Stephens Consulting LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 220.6% in the second quarter, HoldingsChannel reports. The fund owned 4,360 shares of the information services provider’s stock after buying an additional 3,000 shares during the period. Stephens Consulting LLC’s holdings in Alphabet were worth $522,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the business. Live Oak Investment Partners acquired a new stake in shares of Alphabet in the fourth quarter valued at $26,000. Armor Investment Advisors LLC acquired a new stake in shares of Alphabet in the second quarter valued at $28,000. Sanctuary Wealth Management L.L.C. acquired a new stake in shares of Alphabet in the fourth quarter valued at $34,000. Turim 21 Investimentos Ltda. acquired a new stake in shares of Alphabet in the third quarter valued at $38,000. Finally, IAG Wealth Partners LLC lifted its holdings in shares of Alphabet by 100.0% in the first quarter. IAG Wealth Partners LLC now owns 400 shares of the information services provider’s stock valued at $41,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 35.08% of the company’s stock.
Insiders Place Their Bets
In other Alphabet news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $131.14, for a total value of $26,228.00. Following the completion of the sale, the director now owns 5,340 shares in the company, valued at approximately $700,287.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, 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 transaction, the senior vice president now directly owns 75,621 shares in the company, valued at approximately $10,119,602.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $131.14, for a total value of $26,228.00. Following the completion of the transaction, the director now owns 5,340 shares in the company, valued at $700,287.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,091 shares of company stock worth $13,527,476. 0.88% of the stock is currently owned by company insiders.
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, beating the consensus estimate of $1.32 by $0.12. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. The firm had revenue of $74.60 billion during the quarter, compared to the consensus estimate of $60.24 billion. During the same quarter in the prior year, the company earned $1.21 EPS. Research analysts predict that Alphabet Inc. will post 5.68 earnings per share for the current year.
Analyst Ratings Changes
Several analysts have recently weighed in on the company. Evercore ISI upped their price objective on Alphabet from $130.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, July 26th. StockNews.com initiated coverage on Alphabet in a research report on Thursday, October 5th. They set a “buy” rating on the stock. Jefferies Financial Group boosted their target price on Alphabet from $150.00 to $165.00 in a research report on Wednesday, July 26th. Wolfe Research boosted their target price on Alphabet from $130.00 to $140.00 in a research report on Monday, July 10th. Finally, Wells Fargo & Company boosted their target price on Alphabet from $116.00 to $121.00 in a research report on Wednesday, July 26th. Four 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 currently has an average rating of “Moderate Buy” and a consensus price target of $143.86.
Read Our Latest Stock Analysis 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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