Angeles Wealth Management LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 6.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,902 shares of the information services provider’s stock after buying an additional 859 shares during the quarter. Angeles Wealth Management LLC’s holdings in Alphabet were worth $1,442,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in GOOGL. Live Oak Investment Partners purchased a new stake in Alphabet during the 4th quarter worth approximately $26,000. Sanctuary Wealth Management L.L.C. acquired a new position in Alphabet in the 4th quarter valued at $34,000. Turim 21 Investimentos Ltda. purchased a new position in Alphabet in the 3rd quarter valued at $38,000. IAG Wealth Partners LLC boosted its stake in Alphabet by 100.0% during the 1st quarter. IAG Wealth Partners LLC now owns 400 shares of the information services provider’s stock worth $41,000 after purchasing an additional 200 shares during the last quarter. Finally, AM Squared Ltd purchased a new stake in shares of Alphabet during the fourth quarter worth $44,000. Hedge funds and other institutional investors own 35.08% of the company’s stock.
Analyst Upgrades and Downgrades
GOOGL has been the topic of several research reports. 51job reissued a “downgrade” rating on shares of Alphabet in a research note on Tuesday, June 27th. Wedbush assumed coverage on Alphabet in a research note on Monday, August 21st. They set an “outperform” rating and a $160.00 price objective on the stock. Truist Financial raised their target price on Alphabet from $122.00 to $160.00 in a research note on Wednesday, July 26th. Stifel Nicolaus boosted their price target on shares of Alphabet from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Finally, Robert W. Baird raised their price objective 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. Four research 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 company. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.89.
Insider Transactions at Alphabet
In other news, SVP Prabhakar Raghavan sold 16,083 shares of the firm’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 sale, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet 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 transaction, the senior vice president now directly owns 127,028 shares in the company, valued at $15,282,738.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 16,031 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $14.98, for a total transaction of $240,144.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 154,043 shares of company stock valued at $7,411,558. 0.88% of the stock is currently owned by corporate insiders.
Alphabet Trading Down 0.4 %
NASDAQ GOOGL opened at $135.66 on Friday. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $138.00. The firm has a 50 day moving average of $126.30 and a two-hundred day moving average of $114.63. The company has a quick ratio of 2.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $1.71 trillion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 1.51 and a beta of 1.06.
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its 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. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The firm had revenue of $74.60 billion during the quarter, compared to the consensus estimate of $60.24 billion. During the same quarter in the previous year, the firm posted $1.21 earnings per share. As a group, research analysts expect that Alphabet Inc. will post 5.68 EPS for the current fiscal 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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