Saratoga Research & Investment Management trimmed its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 9.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 886,787 shares of the information services provider’s stock after selling 87,245 shares during the period. Alphabet makes up about 4.9% of Saratoga Research & Investment Management’s holdings, making the stock its 6th biggest position. Saratoga Research & Investment Management’s holdings in Alphabet were worth $106,148,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of GOOGL. Spreng Capital Management Inc. grew its holdings in Alphabet by 4.0% in the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after buying an additional 5 shares during the period. West Family Investments Inc. grew its holdings in Alphabet by 0.3% in the 1st quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after buying an additional 6 shares during the period. Maple Capital Management Inc. grew its holdings in Alphabet by 2.1% in the 1st quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock valued at $823,000 after buying an additional 6 shares during the period. Private Advisory Group LLC grew its holdings in Alphabet by 1.8% in the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock valued at $1,115,000 after buying an additional 7 shares during the period. Finally, Weik Capital Management grew its holdings in Alphabet by 0.5% in the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after buying an additional 8 shares during the period. 35.08% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have commented on GOOGL shares. Loop Capital lifted their price target on Alphabet from $125.00 to $140.00 and gave the company a “hold” rating in a report on Friday, August 18th. TD Cowen boosted their target price on Alphabet from $130.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, July 13th. Truist Financial boosted their target price on Alphabet from $122.00 to $160.00 in a report on Wednesday, July 26th. UBS Group cut Alphabet from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $123.00 to $132.00 in a report on Monday, June 26th. Finally, Wells Fargo & Company boosted their target price on Alphabet from $121.00 to $126.00 and gave the stock an “equal weight” rating in a report on Tuesday. Four investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $144.00.
Alphabet Stock Performance
Shares of GOOGL opened at $138.97 on Friday. The business’s fifty day moving average price is $133.33 and its 200 day moving average price is $122.49. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $141.22. The stock has a market capitalization of $1.75 trillion, a PE ratio of 29.44, a price-to-earnings-growth ratio of 1.59 and a beta of 1.06. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.14.
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $60.24 billion. During the same period last year, the company earned $1.21 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 5.68 EPS for the current year.
Insiders Place Their Bets
In other Alphabet news, Director Ann Mather sold 220 shares of the stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $121.75, for a total value of $26,785.00. Following the sale, the director now directly owns 4,759 shares of the company’s stock, valued at $579,408.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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, Director Ann Mather sold 220 shares of the firm’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $121.75, for a total value of $26,785.00. Following the transaction, the director now directly owns 4,759 shares in the company, valued at $579,408.25. The disclosure for this sale can be found here. Insiders have sold 101,091 shares of company stock valued at $13,530,462 over the last three months. Company insiders own 0.88% of the company’s stock.
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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