Csenge Advisory Group raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 3.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 56,529 shares of the information services provider’s stock after purchasing an additional 1,779 shares during the quarter. Csenge Advisory Group’s holdings in Alphabet were worth $6,767,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. Modera Wealth Management LLC boosted its holdings in Alphabet by 11.4% during the first 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 stake in shares of Alphabet by 7.4% in the first quarter. Atria Investments Inc now owns 316,800 shares of the information services provider’s stock valued at $32,918,000 after acquiring an additional 21,907 shares during the last quarter. Cadent Capital Advisors LLC raised its stake in shares of Alphabet by 3.4% in the second quarter. Cadent Capital Advisors LLC now owns 4,158 shares of the information services provider’s stock valued at $498,000 after acquiring an additional 136 shares during the last quarter. Hallmark Capital Management Inc. raised its stake in shares of Alphabet by 8.9% in the first quarter. Hallmark Capital Management Inc. now owns 167,148 shares of the information services provider’s stock valued at $17,338,000 after acquiring an additional 13,605 shares during the last quarter. Finally, Marcum Wealth LLC raised its stake in shares of Alphabet by 4.8% in the first 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 during the last quarter. 35.08% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, Director Kavitark Ram Shriram sold 31,240 shares of the company’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $116.82, for a total value 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Prabhakar Raghavan sold 16,083 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $133.82, for a total transaction of $2,152,227.06. Following the completion of the transaction, the senior vice president now directly owns 75,621 shares in the company, valued at approximately $10,119,602.22. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Kavitark Ram Shriram sold 31,240 shares of the stock in a transaction dated 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 owns 5,364 shares of the company’s stock, valued at $626,622.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 132,331 shares of company stock valued at $17,176,933. Company insiders own 0.88% of the company’s stock.
Alphabet Price Performance
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its 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 during the quarter, compared to analyst estimates of $60.24 billion. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. During the same period in the prior year, the business earned $1.21 EPS. Research analysts predict that Alphabet Inc. will post 5.68 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of research analysts have recently issued reports on GOOGL shares. Royal Bank of Canada lifted their target price on shares of Alphabet from $145.00 to $155.00 in a research note on Wednesday, July 26th. Jefferies Financial Group lifted their target price on shares of Alphabet from $150.00 to $165.00 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 report on Wednesday, July 26th. TD Cowen boosted their price objective on shares of Alphabet from $130.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, July 13th. Finally, Rosenblatt Securities boosted their price objective on shares of Alphabet from $132.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Four research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $143.86.
Check Out Our Latest Report on Alphabet
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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