RNC Capital Management LLC lessened its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 33.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,730 shares of the information services provider’s stock after selling 15,271 shares during the quarter. RNC Capital Management LLC’s holdings in Alphabet were worth $3,678,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in GOOGL. Modera Wealth Management LLC grew its stake in shares of 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 buying an additional 4,420 shares during the last quarter. Atria Investments Inc grew its stake in shares of Alphabet by 7.4% during the first quarter. Atria Investments Inc now owns 316,800 shares of the information services provider’s stock valued at $32,918,000 after buying an additional 21,907 shares during the last quarter. Cadent Capital Advisors LLC grew its stake in shares of Alphabet by 3.4% during the second quarter. Cadent Capital Advisors LLC now owns 4,158 shares of the information services provider’s stock valued at $498,000 after buying an additional 136 shares during the last quarter. Hallmark Capital Management Inc. grew its stake in shares of Alphabet by 8.9% during 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 buying an additional 13,605 shares during the last quarter. Finally, Marcum Wealth LLC grew its stake in shares of Alphabet by 4.8% during the first quarter. Marcum Wealth LLC now owns 20,372 shares of the information services provider’s stock valued at $2,113,000 after buying an additional 927 shares during the last quarter. Institutional investors own 35.08% of the company’s stock.
Insider Activity at Alphabet
In related news, CAO Amie Thuener O’toole sold 3,749 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $136.28, for a total transaction of $510,913.72. Following the completion of the sale, the chief accounting officer now owns 25,568 shares of the company’s stock, valued at $3,484,407.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 3,749 shares of Alphabet stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $136.28, for a total value of $510,913.72. Following the completion of the sale, the chief accounting officer now owns 25,568 shares of the company’s stock, valued at approximately $3,484,407.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $131.14, for a total transaction of $26,228.00. Following the completion of the sale, the director now directly owns 5,340 shares of the company’s stock, valued at approximately $700,287.60. The disclosure for this sale can be found here. Insiders sold 101,091 shares of company stock valued at $13,527,476 over the last 90 days. Corporate insiders own 0.88% of the company’s stock.
Alphabet Price Performance
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly 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. The company had revenue of $74.60 billion during the quarter, compared to the consensus estimate of $60.24 billion. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. During the same quarter last year, the firm earned $1.21 earnings per share. As a group, equities research analysts anticipate that Alphabet Inc. will post 5.68 earnings per share for the current fiscal year.
Analyst Ratings Changes
GOOGL has been the subject of a number of analyst reports. Sanford C. Bernstein increased their target price on shares of Alphabet from $130.00 to $135.00 in a report on Wednesday, July 26th. 888 reiterated a “downgrade” rating on shares of Alphabet in a report on Monday, June 26th. Tigress Financial increased their target price on shares of Alphabet from $160.00 to $172.00 and gave the stock a “strong-buy” rating in a report on Friday, July 14th. TD Cowen increased their target price on shares of Alphabet from $130.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, July 13th. Finally, Credit Suisse Group increased their target price on shares of Alphabet from $135.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, July 17th. 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 company. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $143.86.
View 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.
See Also
- Five stocks we like better than Alphabet
- How is Compound Interest Calculated?
- MarketBeat ‘Stock of the Week’ Ford, Strike Presents Opportunity
- How to Invest in Blue Chip Stocks
- Healthcare Giant Outperforms: A Healthy Dose of Market Resilience
- How the NYSE and NASDAQ are Different, Why That Matters to Investors
- 5 Reasons Rivian is a Buy on Shaken Investor Sentiment
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL – Free Report).
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.
