Advisor Resource Council cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 72.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,130 shares of the information services provider’s stock after selling 10,950 shares during the quarter. Advisor Resource Council’s holdings in Alphabet were worth $494,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the company. Spreng Capital Management Inc. raised its stake in Alphabet by 4.0% during the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock worth $364,000 after acquiring an additional 5 shares during the period. West Family Investments Inc. increased its stake in shares of Alphabet by 0.3% in the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock worth $4,878,000 after purchasing an additional 6 shares in the last quarter. Maple Capital Management Inc. raised its position in shares of Alphabet by 2.1% during the 1st quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock valued at $823,000 after purchasing an additional 6 shares during the period. Private Advisory Group LLC raised its position in shares of Alphabet by 1.8% during the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock valued at $1,115,000 after purchasing an additional 7 shares during the period. Finally, Weik Capital Management lifted its stake in shares of Alphabet by 0.5% during the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after buying an additional 8 shares in the last quarter. 35.08% of the stock is owned by institutional investors.
Insider Transactions at Alphabet
In other Alphabet news, Director Kavitark Ram Shriram sold 31,240 shares of Alphabet stock in a transaction on Monday, July 10th. The stock was sold at an average price of $116.82, for a total transaction of $3,649,456.80. Following the completion of the sale, the director now directly owns 5,364 shares of the company’s stock, valued at approximately $626,622.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred 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 transaction, the director now directly 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 is available through the SEC website. Also, Director Kavitark Ram Shriram sold 31,240 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $116.82, for a total transaction of $3,649,456.80. Following the completion of the transaction, the director now directly owns 5,364 shares of the company’s stock, valued at approximately $626,622.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 95,712 shares of company stock valued at $12,175,801. 0.88% of the stock is currently owned by company insiders.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 EPS for the quarter, topping the consensus estimate of $1.32 by $0.12. The company had revenue of $74.60 billion for the quarter, compared to the consensus estimate of $60.24 billion. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. During the same quarter last year, the firm posted $1.21 EPS. Analysts predict that Alphabet Inc. will post 5.68 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on the company. Mizuho boosted their price objective on Alphabet from $135.00 to $155.00 in a research report on Wednesday, July 26th. Piper Sandler boosted their price target on Alphabet from $140.00 to $148.00 in a report on Wednesday, July 26th. JMP Securities reaffirmed a “market outperform” rating and set a $138.00 price objective on shares of Alphabet in a report on Wednesday, August 30th. Wells Fargo & Company boosted their target price on shares of Alphabet from $116.00 to $121.00 in a report on Wednesday, July 26th. Finally, Jefferies Financial Group upped their target price on shares of Alphabet from $150.00 to $165.00 in a research report on Wednesday, July 26th. Four 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $143.89.
Read Our Latest Research Report on Alphabet
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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