Page Arthur B reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,336 shares of the information services provider’s stock after selling 129 shares during the quarter. Alphabet accounts for 3.9% of Page Arthur B’s holdings, making the stock its 6th biggest holding. Page Arthur B’s holdings in Alphabet were worth $4,184,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of the stock. Modera Wealth Management LLC boosted its stake in Alphabet by 11.4% in the first quarter. Modera Wealth Management LLC now owns 43,230 shares of the information services provider’s stock valued at $4,484,000 after buying an additional 4,420 shares in the last quarter. FourThought Financial Partners LLC acquired a new stake in Alphabet in the fourth quarter valued at about $5,415,000. Glenview Trust Co boosted its stake in Alphabet by 10.7% in the fourth quarter. Glenview Trust Co now owns 458,830 shares of the information services provider’s stock valued at $40,483,000 after buying an additional 44,278 shares in the last quarter. Hallmark Capital Management Inc. boosted its stake in Alphabet by 8.9% in the first quarter. Hallmark Capital Management Inc. now owns 167,148 shares of the information services provider’s stock valued at $17,338,000 after buying an additional 13,605 shares in the last quarter. Finally, Marcum Wealth LLC boosted its stake in Alphabet by 4.8% in the first quarter. Marcum Wealth LLC now owns 20,372 shares of the information services provider’s stock valued at $2,113,000 after buying an additional 927 shares in the last quarter. 35.38% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
GOOGL has been the topic of several research analyst reports. Wolfe Research raised their price objective on Alphabet from $130.00 to $140.00 in a research note on Monday, July 10th. Tigress Financial increased their target price on Alphabet from $160.00 to $172.00 and gave the company a “strong-buy” rating in a research report on Friday, July 14th. Morgan Stanley increased their target price on Alphabet from $150.00 to $155.00 in a research report on Wednesday, July 26th. Sanford C. Bernstein increased their target price on Alphabet from $130.00 to $135.00 in a research report on Wednesday, July 26th. Finally, StockNews.com initiated coverage on Alphabet in a research report on Thursday, August 17th. They issued a “buy” rating for the company. Four investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $143.08.
Alphabet Trading Up 0.9 %
Shares of Alphabet stock opened at $131.01 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.14 and a current ratio of 2.17. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $134.25. The stock has a 50 day moving average price of $125.24 and a two-hundred day moving average price of $113.62. The stock has a market capitalization of $1.65 trillion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 1.50 and a beta of 1.06.
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings data on Tuesday, July 25th. The information services provider reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.12. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. The firm had revenue of $74.60 billion during the quarter, compared to analysts’ expectations of $60.24 billion. During the same quarter last year, the firm posted $1.21 earnings per share. As a group, equities analysts anticipate that Alphabet Inc. will post 5.68 earnings per share for the current fiscal year.
Insider Buying and Selling at Alphabet
In other Alphabet news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total value of $25,130.00. Following the completion of the sale, the director now owns 5,740 shares of the company’s stock, valued at $721,231. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total transaction of $25,130.00. Following the transaction, the director now owns 5,740 shares of the company’s stock, valued at $721,231. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $130.95, for a total value of $30,118.50. Following the transaction, the director now directly owns 13,329 shares in the company, valued at approximately $1,745,432.55. The disclosure for this sale can be found here. Over the last quarter, insiders sold 180,006 shares of company stock valued at $8,804,132. Company insiders own 0.88% of the company’s stock.
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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