PDS Planning Inc boosted its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 8.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 26,778 shares of the information services provider’s stock after purchasing an additional 2,195 shares during the period. PDS Planning Inc’s holdings in Alphabet were worth $3,205,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Altus Wealth Management LLC increased its stake in shares of Alphabet by 4.4% during the 2nd quarter. Altus Wealth Management LLC now owns 2,380 shares of the information services provider’s stock valued at $285,000 after acquiring an additional 100 shares during the last quarter. SkyOak Wealth LLC increased its stake in shares of Alphabet by 3.6% during the 2nd quarter. SkyOak Wealth LLC now owns 21,824 shares of the information services provider’s stock valued at $2,612,000 after acquiring an additional 766 shares during the last quarter. Cassia Capital Partners LLC increased its stake in shares of Alphabet by 16.4% during the 2nd quarter. Cassia Capital Partners LLC now owns 3,523 shares of the information services provider’s stock valued at $422,000 after acquiring an additional 497 shares during the last quarter. Scissortail Wealth Management LLC increased its stake in shares of Alphabet by 5.4% during the 2nd quarter. Scissortail Wealth Management LLC now owns 4,559 shares of the information services provider’s stock valued at $556,000 after acquiring an additional 232 shares during the last quarter. Finally, Osborne Partners Capital Management LLC increased its stake in shares of Alphabet by 1.2% during the 2nd quarter. Osborne Partners Capital Management LLC now owns 112,287 shares of the information services provider’s stock valued at $13,441,000 after acquiring an additional 1,364 shares during the last quarter. Institutional investors and hedge funds own 35.08% of the company’s stock.
Insider Activity at Alphabet
In related news, SVP Prabhakar Raghavan sold 16,083 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $133.82, for a total transaction of $2,152,227.06. Following the sale, the senior vice president now directly owns 75,621 shares of the company’s stock, valued at approximately $10,119,602.22. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 3,749 shares of the stock in a transaction 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 sale, the chief accounting officer now directly owns 25,568 shares of the company’s stock, valued at $3,484,407.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Prabhakar Raghavan sold 16,083 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $133.82, for a total value of $2,152,227.06. Following the completion of the sale, the senior vice president now directly owns 75,621 shares in the company, valued at $10,119,602.22. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 101,091 shares of company stock valued at $13,527,476. Corporate insiders own 0.88% of the company’s stock.
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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.12. The business had revenue of $74.60 billion for 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 period in the prior year, the company posted $1.21 EPS. On average, analysts expect that Alphabet Inc. will post 5.68 EPS for the current fiscal year.
Analyst Ratings Changes
A number of research analysts have recently commented on GOOGL shares. TD Cowen upped their price objective on shares of Alphabet from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, July 13th. JPMorgan Chase & Co. boosted their target price on Alphabet from $121.00 to $150.00 in a report on Wednesday, July 26th. Susquehanna reiterated a “positive” rating and set a $150.00 target price on shares of Alphabet in a report on Thursday, August 31st. Credit Suisse Group boosted their target price on Alphabet from $135.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, July 17th. Finally, Evercore ISI boosted their target price on Alphabet from $130.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, July 26th. Four equities research 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 stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.86.
Check Out Our Latest Report on GOOGL
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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