Avantax Planning Partners Inc. lessened its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 33,099 shares of the information services provider’s stock after selling 320 shares during the quarter. Avantax Planning Partners Inc.’s holdings in Alphabet were worth $3,962,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of GOOGL. Spreng Capital Management Inc. increased its position in shares of Alphabet by 4.0% during the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after purchasing an additional 5 shares during the last quarter. West Family Investments Inc. grew its position in Alphabet by 0.3% during the 1st quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock worth $4,878,000 after acquiring an additional 6 shares during the last quarter. Maple Capital Management Inc. grew its position in Alphabet by 2.1% during the 1st quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock worth $823,000 after acquiring an additional 6 shares during the last quarter. Private Advisory Group LLC grew its position in Alphabet by 1.8% during the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock worth $1,115,000 after acquiring an additional 7 shares during the last quarter. Finally, Weik Capital Management grew its position in Alphabet by 0.5% during the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock worth $4,264,000 after acquiring an additional 8 shares during the last quarter. Institutional investors own 35.08% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on GOOGL. Citigroup raised their price target on Alphabet from $130.00 to $153.00 in a research report on Wednesday, July 26th. UBS Group lowered Alphabet from a “buy” rating to a “neutral” rating and raised their price target for the stock from $123.00 to $132.00 in a research report on Monday, June 26th. Royal Bank of Canada raised their price target on Alphabet from $145.00 to $155.00 in a research report on Wednesday, July 26th. Stifel Nicolaus increased their price objective on Alphabet from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, July 21st. Finally, TD Cowen increased their price objective on Alphabet from $130.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, July 13th. Four investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $143.89.
Alphabet Stock Down 1.1 %
Shares of NASDAQ:GOOGL opened at $130.86 on Friday. The stock has a market capitalization of $1.65 trillion, a price-to-earnings ratio of 27.72, a PEG ratio of 1.52 and a beta of 1.06. The stock has a fifty day simple moving average of $131.84 and a two-hundred day simple moving average of $120.46. Alphabet Inc. has a 12-month low of $83.34 and a 12-month 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 posted its earnings results on Tuesday, July 25th. The information services provider reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.12. The business had revenue of $74.60 billion during the quarter, compared to analyst estimates 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 company earned $1.21 EPS. On average, research analysts anticipate that Alphabet Inc. will post 5.68 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Alphabet news, Director Frances Arnold sold 240 shares of Alphabet stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $130.85, for a total value of $31,404.00. Following the completion of the sale, the director now owns 13,917 shares of the company’s stock, valued at approximately $1,821,039.45. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider John Kent Walker sold 35,799 shares of Alphabet stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $130.54, for a total value of $4,673,201.46. Following the completion of the sale, the insider now owns 17,484 shares of the company’s stock, valued at $2,282,361.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frances Arnold sold 240 shares of Alphabet stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $130.85, for a total value of $31,404.00. Following the completion of the sale, the director now directly owns 13,917 shares of the company’s stock, valued at approximately $1,821,039.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 131,731 shares of company stock valued at $16,880,398. Corporate insiders own 0.88% of the company’s stock.
About Alphabet
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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