Xponance Inc. grew its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 6.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,405,917 shares of the information services provider’s stock after acquiring an additional 88,251 shares during the quarter. Alphabet comprises approximately 2.2% of Xponance Inc.’s portfolio, making the stock its 5th biggest holding. Xponance Inc.’s holdings in Alphabet were worth $168,288,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also made changes to their positions in the company. DC Investments Management LLC acquired a new position in Alphabet in the 1st quarter valued at $114,000. Bridgefront Capital LLC acquired a new position in Alphabet in the 1st quarter valued at $225,000. Worth Asset Management LLC acquired a new position in Alphabet in the 1st quarter valued at $206,000. Eudaimonia Advisors LLC raised its holdings in Alphabet by 15.1% in the 1st quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock valued at $275,000 after acquiring an additional 13 shares during the last quarter. Finally, Aspire Capital Advisors LLC acquired a new position in Alphabet in the 1st quarter valued at $281,000. Institutional investors and hedge funds own 35.08% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have recently commented on GOOGL. Wolfe Research upped their price objective on shares of Alphabet from $130.00 to $140.00 in a research note on Monday, July 10th. Loop Capital upped their price objective on Alphabet from $125.00 to $140.00 and gave the stock a “hold” rating in a report on Friday, August 18th. Citigroup upped their price objective on Alphabet from $130.00 to $153.00 in a report on Wednesday, July 26th. StockNews.com started coverage on Alphabet in a report on Thursday, August 17th. They set a “buy” rating for the company. Finally, Needham & Company LLC reissued a “buy” rating and set a $140.00 target price on shares of Alphabet in a research report on Wednesday, September 13th. 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. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $143.89.
Alphabet Stock Down 0.1 %
Shares of Alphabet stock opened at $130.25 on Monday. 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 firm has a market cap 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 fifty-two week low of $83.34 and a fifty-two week high of $139.16. The business has a 50-day moving average price of $130.97 and a 200 day moving average price of $119.13.
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings data on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $60.24 billion. During the same period in the previous year, the company earned $1.21 earnings per share. On average, sell-side analysts forecast 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 business’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $137.30, for a total transaction of $27,460.00. Following the completion of the sale, the director now owns 7,584 shares in the company, valued at $1,041,283.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $137.30, for a total transaction of $27,460.00. Following the completion of the transaction, the director now directly owns 7,584 shares of the company’s stock, valued at $1,041,283.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 3,749 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $136.28, for a total value of $510,913.72. Following the completion of the sale, the chief accounting officer now directly owns 25,568 shares in the company, valued at approximately $3,484,407.04. The disclosure for this sale can be found here. Insiders sold a total of 95,712 shares of company stock worth $12,175,801 over the last 90 days. Insiders own 0.88% of the company’s stock.
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.
Featured Stories
- Five stocks we like better than Alphabet
- Stock Market Holidays 2022-2025 – Here’s When the NYSE and NASDAQ Will be Closed
- 3 Reasons This Sleeping Giant Is About To Wake Up
- How to Use High Beta Stocks to Maximize Your Investing Profits
- MarketBeat Week in Review – 9/18 – 9/22
- How to Read Stock Charts for Beginners
- 52-week Low Names To Tip The Upside Scale In Your Favor
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL – Free Report).
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.
