Allred Capital Management LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,089 shares of the information services provider’s stock after purchasing an additional 195 shares during the period. Alphabet makes up approximately 0.8% of Allred Capital Management LLC’s investment portfolio, making the stock its 25th biggest position. Allred Capital Management LLC’s holdings in Alphabet were worth $1,565,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in GOOGL. DC Investments Management LLC acquired a new position in shares of Alphabet during the first quarter worth $114,000. Bridgefront Capital LLC acquired a new position in shares of Alphabet during the first quarter worth $225,000. Worth Asset Management LLC acquired a new position in shares of Alphabet during the first quarter worth $206,000. Eudaimonia Advisors LLC increased its holdings in shares of Alphabet by 15.1% during the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after buying an additional 13 shares in the last quarter. Finally, Aspire Capital Advisors LLC acquired a new position in shares of Alphabet during the first quarter worth $281,000. 35.38% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
GOOGL has been the subject of a number of recent research reports. Piper Sandler increased their price objective on Alphabet from $140.00 to $148.00 in a report on Wednesday, July 26th. Robert W. Baird upped their price target on shares of Alphabet from $123.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, July 21st. Sanford C. Bernstein lifted their price objective on Alphabet from $130.00 to $135.00 in a research report on Wednesday, July 26th. Rosenblatt Securities lifted their price objective on Alphabet from $132.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Finally, Citigroup lifted their price objective on Alphabet from $130.00 to $153.00 in a research report on Wednesday, July 26th. Four research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $143.08.
Insider Buying and Selling at Alphabet
In other Alphabet news, Director Frances Arnold sold 240 shares of the business’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $123.73, for a total transaction of $29,695.20. Following the sale, the director now owns 12,800 shares of the company’s stock, valued at approximately $1,583,744. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $131.14, for a total transaction of $26,228.00. Following the sale, the director now owns 5,340 shares of the company’s stock, valued at approximately $700,287.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frances Arnold sold 240 shares of the business’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $123.73, for a total transaction of $29,695.20. Following the sale, the director now directly owns 12,800 shares in the company, valued at approximately $1,583,744. The disclosure for this sale can be found here. Insiders have sold 180,006 shares of company stock valued at $8,804,132 in the last 90 days. 0.88% of the stock is currently owned by company insiders.
Alphabet Trading Down 2.0 %
NASDAQ:GOOGL opened at $129.78 on Friday. The company has a current ratio of 2.17, a quick ratio of 2.14 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $1.64 trillion, a PE ratio of 27.50, a price-to-earnings-growth ratio of 1.49 and a beta of 1.06. The firm’s 50 day moving average is $124.96 and its 200 day moving average is $113.04. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $134.25.
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.12. The company had revenue of $74.60 billion for the quarter, compared to analysts’ expectations of $60.24 billion. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. During the same quarter in the previous year, the firm posted $1.21 EPS. Sell-side analysts expect that Alphabet Inc. will post 5.67 earnings per share for the current year.
About Alphabet
Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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