Atwood & Palmer Inc. lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 2.7% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,960 shares of the information services provider’s stock after purchasing an additional 600 shares during the period. Atwood & Palmer Inc.’s holdings in Alphabet were worth $2,748,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. DC Investments Management LLC purchased a new stake in shares of Alphabet during the 1st quarter worth approximately $114,000. Bridgefront Capital LLC purchased a new stake in shares of Alphabet during the 1st quarter worth approximately $225,000. Worth Asset Management LLC purchased a new stake in shares of Alphabet during the 1st quarter worth approximately $206,000. Eudaimonia Advisors LLC lifted its position in shares of Alphabet by 15.1% during the 1st quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after buying an additional 13 shares during the last quarter. Finally, Aspire Capital Advisors LLC purchased a new stake in shares of Alphabet during the 1st quarter worth approximately $281,000. Institutional investors and hedge funds own 35.08% of the company’s stock.
Insider Transactions at Alphabet
In related news, Director Kavitark Ram Shriram sold 31,240 shares of the firm’s 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 transaction, the director now directly owns 5,364 shares in the company, valued at $626,622.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, Director Kavitark Ram Shriram sold 31,240 shares of the firm’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $116.82, for a total value of $3,649,456.80. Following the sale, the director now directly owns 5,364 shares in the company, valued at $626,622.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 42,900 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $136.51, for a total value of $5,856,279.00. Following the completion of the sale, the insider now owns 10,383 shares in the company, valued at $1,417,383.33. The disclosure for this sale can be found here. Over the last quarter, insiders sold 116,248 shares of company stock valued at $15,024,706. 0.88% of the stock is currently owned by corporate insiders.
Alphabet Stock Down 1.3 %
Alphabet (NASDAQ:GOOGL – Get Free Report) last released 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. 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 company earned $1.21 earnings per share. As a group, analysts forecast that Alphabet Inc. will post 5.68 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several analysts recently commented on the stock. Mizuho upped their price target on shares of Alphabet from $135.00 to $155.00 in a research report on Wednesday, July 26th. Royal Bank of Canada boosted their price objective on shares of Alphabet from $145.00 to $155.00 in a research note on Wednesday, July 26th. Barclays boosted their price objective on shares of Alphabet from $160.00 to $200.00 in a research note on Wednesday, July 26th. Sanford C. Bernstein boosted their price objective on shares of Alphabet from $130.00 to $135.00 in a research note on Wednesday, July 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price target on shares of Alphabet in a research note on Wednesday, September 13th. Four investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $143.86.
Read Our Latest Analysis on Alphabet
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.
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