Flaharty Asset Management LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 7.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,809 shares of the information services provider’s stock after selling 220 shares during the quarter. Flaharty Asset Management LLC’s holdings in Alphabet were worth $291,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Modera Wealth Management LLC lifted its position in Alphabet by 11.4% in the 1st quarter. Modera Wealth Management LLC now owns 43,230 shares of the information services provider’s stock valued at $4,484,000 after acquiring an additional 4,420 shares in the last quarter. FourThought Financial Partners LLC bought a new stake in Alphabet in the 4th quarter valued at $5,415,000. Glenview Trust Co lifted its position in Alphabet by 10.7% in the 4th quarter. Glenview Trust Co now owns 458,830 shares of the information services provider’s stock valued at $40,483,000 after acquiring an additional 44,278 shares in the last quarter. Hallmark Capital Management Inc. lifted its position in Alphabet by 8.9% in the 1st quarter. Hallmark Capital Management Inc. now owns 167,148 shares of the information services provider’s stock valued at $17,338,000 after acquiring an additional 13,605 shares in the last quarter. Finally, Marcum Wealth LLC lifted its position in Alphabet by 4.8% in the 1st quarter. Marcum Wealth LLC now owns 20,372 shares of the information services provider’s stock valued at $2,113,000 after acquiring an additional 927 shares in the last quarter. 35.38% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms recently commented on GOOGL. Jefferies Financial Group boosted their price objective on shares of Alphabet from $150.00 to $165.00 in a research report on Wednesday, July 26th. Robert W. Baird boosted their price target on shares of Alphabet from $123.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, July 21st. Piper Sandler boosted their price target on shares of Alphabet from $140.00 to $148.00 in a research report on Wednesday, July 26th. StockNews.com began coverage on shares of Alphabet in a research report on Thursday, August 17th. They set a “buy” rating on the stock. Finally, Evercore ISI boosted their price target on shares of Alphabet from $130.00 to $160.00 and gave the stock an “outperform” rating 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $143.08.
Insider Buying and Selling
In related news, SVP Prabhakar Raghavan sold 16,083 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the sale, the senior vice president now owns 127,028 shares in the company, valued at approximately $15,282,738.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Prabhakar Raghavan sold 16,083 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $120.31, for a total value of $1,934,945.73. Following the completion of the transaction, the senior vice president now owns 127,028 shares of the company’s stock, valued at approximately $15,282,738.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 16,633 shares of the firm’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $13.65, for a total transaction of $227,040.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 180,006 shares of company stock worth $8,804,132. Corporate insiders own 0.88% of the company’s stock.
Alphabet Stock Performance
Shares of NASDAQ:GOOGL opened at $129.88 on Friday. The company’s 50 day moving average price is $125.09 and its two-hundred day moving average price is $113.27. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $134.25. The firm has a market cap of $1.64 trillion, a PE ratio of 27.52, a PEG ratio of 1.49 and a beta of 1.06. The company has a quick ratio of 2.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.05.
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.12. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The firm had revenue of $74.60 billion for the quarter, compared to analyst estimates of $60.24 billion. During the same quarter in the prior year, the business posted $1.21 EPS. Equities research analysts predict that Alphabet Inc. will post 5.68 earnings per share for the current year.
Alphabet Company Profile
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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