Jones Financial Companies Lllp decreased its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 299,816 shares of the information services provider’s stock after selling 1,147 shares during the period. Jones Financial Companies Lllp’s holdings in Alphabet were worth $31,100,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. DC Investments Management LLC purchased a new stake in Alphabet in the first quarter worth $114,000. Bridgefront Capital LLC purchased a new stake in Alphabet in the first quarter worth $225,000. Worth Asset Management LLC purchased a new stake in Alphabet in the first quarter worth $206,000. Eudaimonia Advisors LLC lifted its stake in Alphabet by 15.1% in the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after acquiring an additional 13 shares during the period. Finally, Aspire Capital Advisors LLC purchased a new stake in Alphabet in the first quarter worth $281,000. Institutional investors own 35.08% of the company’s stock.
Wall Street Analyst Weigh In
GOOGL has been the subject of a number of research analyst reports. Citigroup raised their price target on Alphabet from $130.00 to $153.00 in a research note on Wednesday, July 26th. Credit Suisse Group raised their price objective on Alphabet from $135.00 to $150.00 and gave the company an “outperform” rating in a research report on Monday, July 17th. Sanford C. Bernstein raised their price objective on Alphabet from $130.00 to $135.00 in a research report on Wednesday, July 26th. Wolfe Research raised their price objective on Alphabet from $130.00 to $140.00 in a research report on Monday, July 10th. Finally, Loop Capital raised their price objective on Alphabet from $125.00 to $140.00 and gave the company a “hold” rating in a research report on Friday, August 18th. Four 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $143.89.
Insider Buying and Selling at Alphabet
In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 15,672 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $14.48, for a total transaction of $226,930.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $135.56, for a total value of $31,178.80. Following the completion of the transaction, the director now directly owns 13,618 shares in the company, valued at $1,846,056.08. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 15,672 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $14.48, for a total transaction of $226,930.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 154,043 shares of company stock valued at $7,411,558. Insiders own 0.88% of the company’s stock.
Alphabet Price Performance
NASDAQ GOOGL opened at $135.66 on Friday. Alphabet Inc. has a one year low of $83.34 and a one year high of $138.00. The stock has a 50-day moving average of $126.30 and a 200 day moving average of $114.63. The company has a market capitalization of $1.71 trillion, a price-to-earnings ratio of 28.74, a PEG ratio of 1.51 and a beta of 1.06. 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 (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (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 business had revenue of $74.60 billion during the quarter, compared to the consensus estimate of $60.24 billion. During the same period in the previous year, the company posted $1.21 EPS. On average, sell-side analysts forecast that Alphabet Inc. will post 5.68 EPS for the current year.
Alphabet 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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