RE Dickinson Investment Advisors LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 4.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,272 shares of the information services provider’s stock after purchasing an additional 140 shares during the quarter. RE Dickinson Investment Advisors LLC’s holdings in Alphabet were worth $339,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Bornite Capital Management LP purchased a new position in Alphabet during the first quarter valued at approximately $16,688,000. Markel Corp raised its position in Alphabet by 17.0% during the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after acquiring an additional 2,250 shares in the last quarter. United Bank raised its position in Alphabet by 5.9% during the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after acquiring an additional 113 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Alphabet by 23.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after acquiring an additional 61,427 shares in the last quarter. Finally, Dakota Wealth Management raised its position in Alphabet by 20.4% during the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after acquiring an additional 1,570 shares in the last quarter. 35.38% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several analysts have commented on the company. Piper Sandler raised their price objective on Alphabet from $140.00 to $148.00 in a report on Wednesday, July 26th. Morgan Stanley raised their price objective on Alphabet from $150.00 to $155.00 in a report on Wednesday, July 26th. 51job reissued a “downgrade” rating on shares of Alphabet in a report on Tuesday, June 27th. Jefferies Financial Group raised their price objective on Alphabet from $150.00 to $165.00 in a report on Wednesday, July 26th. Finally, The Goldman Sachs Group raised their price objective on Alphabet from $132.00 to $140.00 and gave the company a “buy” rating in a report on Monday, July 17th. Four analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $143.08.
Alphabet Trading Down 2.0 %
GOOGL opened at $129.78 on Friday. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $134.25. The stock has a market capitalization of $1.64 trillion, a price-to-earnings ratio of 27.50, a PEG ratio of 1.49 and a beta of 1.06. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.14. The business has a fifty day moving average price of $124.96 and a 200 day moving average price of $113.04.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its earnings results on Tuesday, July 25th. The information services provider reported $1.44 EPS for the quarter, topping the consensus estimate of $1.32 by $0.12. The firm had revenue of $74.60 billion during the quarter, compared to analysts’ expectations of $60.24 billion. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. During the same period 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 fiscal year.
Insider Transactions at Alphabet
In other news, SVP Prabhakar Raghavan sold 16,083 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the completion of the transaction, the senior vice president now directly owns 127,028 shares of the company’s stock, valued at approximately $15,282,738.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, SVP Prabhakar Raghavan sold 16,083 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the completion of the transaction, the senior vice president now directly owns 127,028 shares of the company’s stock, valued at approximately $15,282,738.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 16,633 shares of the company’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $13.65, for a total value of $227,040.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 180,006 shares of company stock valued at $8,804,132. 0.88% of the stock is currently owned by corporate insiders.
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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