American Financial Advisors LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.4% in the second quarter, Holdings Channel reports. The institutional investor owned 19,347 shares of the information services provider’s stock after selling 273 shares during the period. American Financial Advisors LLC’s holdings in Alphabet were worth $2,316,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in the stock. Modera Wealth Management LLC increased 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 acquiring an additional 4,420 shares during the period. Atria Investments Inc increased its stake in Alphabet by 7.4% in the first quarter. Atria Investments Inc now owns 316,800 shares of the information services provider’s stock valued at $32,918,000 after acquiring an additional 21,907 shares during the period. Hallmark Capital Management Inc. increased 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 acquiring an additional 13,605 shares during the period. Marcum Wealth LLC increased 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 acquiring an additional 927 shares during the period. Finally, Soltis Investment Advisors LLC grew its stake in Alphabet by 17.1% during the first quarter. Soltis Investment Advisors LLC now owns 46,675 shares of the information services provider’s stock worth $4,842,000 after buying an additional 6,825 shares during the last quarter. Institutional investors and hedge funds own 35.08% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on GOOGL. Rosenblatt Securities upped their price objective on shares of Alphabet from $132.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price objective on shares of Alphabet in a research note on Wednesday, September 13th. Credit Suisse Group upped their price objective on shares of Alphabet from $135.00 to $150.00 and gave the stock an “outperform” rating in a research note on Monday, July 17th. Loop Capital increased their price target on shares of Alphabet from $125.00 to $140.00 and gave the company a “hold” rating in a research note on Friday, August 18th. Finally, Stifel Nicolaus increased their price target on shares of Alphabet from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, July 21st. Four investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.89.
Alphabet Stock Down 0.1 %
Alphabet stock opened at $130.25 on Friday. The company has a market cap of $1.64 trillion, a P/E ratio of 27.60, a price-to-earnings-growth ratio of 1.50 and a beta of 1.06. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $139.16. The company has a fifty day simple moving average of $130.97 and a 200 day simple moving average of $118.95. The company has a current ratio of 2.17, a quick ratio of 2.14 and a debt-to-equity ratio of 0.05.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, beating 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 business had revenue of $74.60 billion during the quarter, compared to the consensus estimate of $60.24 billion. During the same quarter last year, the firm earned $1.21 earnings per share. Research analysts anticipate that Alphabet Inc. will post 5.68 earnings per share for the current fiscal year.
Insider Transactions at Alphabet
In other news, SVP Prabhakar Raghavan sold 16,083 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now directly 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 can be accessed through the SEC website. In other news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $131.14, for a total transaction of $26,228.00. Following the transaction, the director now directly owns 5,340 shares in the company, valued at approximately $700,287.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 16,083 shares of Alphabet 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 directly owns 127,028 shares of the company’s stock, valued at approximately $15,282,738.68. The disclosure for this sale can be found here. Insiders have sold 96,092 shares of company stock worth $12,221,941 in the last ninety days. Insiders own 0.88% of the company’s stock.
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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