Tran Capital Management L.P. raised its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 4.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 346,622 shares of the information services provider’s stock after purchasing an additional 15,100 shares during the period. Alphabet comprises approximately 4.9% of Tran Capital Management L.P.’s holdings, making the stock its 11th largest holding. Tran Capital Management L.P.’s holdings in Alphabet were worth $41,491,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Modera Wealth Management LLC raised its position in shares of 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 purchasing an additional 4,420 shares in the last quarter. Atria Investments Inc raised its position in shares of Alphabet by 7.4% in the 1st quarter. Atria Investments Inc now owns 316,800 shares of the information services provider’s stock valued at $32,918,000 after purchasing an additional 21,907 shares in the last quarter. Hallmark Capital Management Inc. raised its position in shares of 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 purchasing an additional 13,605 shares in the last quarter. Marcum Wealth LLC raised its position in shares of Alphabet by 4.8% during 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. Finally, Soltis Investment Advisors LLC raised its position in shares of Alphabet by 17.1% during the 1st quarter. Soltis Investment Advisors LLC now owns 46,675 shares of the information services provider’s stock valued at $4,842,000 after acquiring an additional 6,825 shares in the last quarter. 35.08% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the company. Morgan Stanley upped their price target on Alphabet from $150.00 to $155.00 in a research report on Wednesday, July 26th. StockNews.com assumed coverage on Alphabet in a research report on Thursday, August 17th. They set a “buy” rating on the stock. Jefferies Financial Group upped their price target on Alphabet from $150.00 to $165.00 in a research report on Wednesday, July 26th. Evercore ISI upped their price target on Alphabet from $130.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, July 26th. Finally, Barclays increased their target price on Alphabet from $160.00 to $200.00 in a research report on Wednesday, July 26th. Four investment 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 stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.89.
Alphabet Trading Down 0.1 %
Shares of GOOGL opened at $130.25 on Friday. The business’s 50-day moving average price is $130.97 and its 200 day moving average price is $118.95. The stock has a market capitalization of $1.64 trillion, a P/E ratio of 27.60, a P/E/G 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 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 issued its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.12. The firm had revenue of $74.60 billion for the quarter, compared to analysts’ expectations of $60.24 billion. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. During the same quarter last year, the business posted $1.21 EPS. Analysts expect that Alphabet Inc. will post 5.68 earnings per share for the current year.
Insiders Place Their Bets
In other Alphabet news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $131.14, for a total transaction of $26,228.00. Following the completion of the sale, the director now directly owns 5,340 shares in the company, valued at approximately $700,287.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider John Kent Walker sold 42,900 shares of Alphabet stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $136.51, for a total transaction of $5,856,279.00. Following the completion of the sale, the insider now directly owns 10,383 shares in the company, valued at approximately $1,417,383.33. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $131.14, for a total value of $26,228.00. Following the sale, the director now owns 5,340 shares of the company’s stock, valued at $700,287.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 96,092 shares of company stock worth $12,221,941. 0.88% of the stock is currently owned by company insiders.
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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