BerganKDV Wealth Management LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 5.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,056 shares of the information services provider’s stock after selling 759 shares during the quarter. BerganKDV Wealth Management LLC’s holdings in Alphabet were worth $1,443,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bornite Capital Management LP acquired a new stake in Alphabet in the 1st quarter valued at about $16,688,000. Markel Corp grew its stake in Alphabet by 17.0% in the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after acquiring an additional 2,250 shares during the last quarter. United Bank grew its stake in Alphabet by 5.9% in the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after acquiring an additional 113 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Alphabet by 23.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after acquiring an additional 61,427 shares during the last quarter. Finally, Dakota Wealth Management grew its stake in Alphabet by 20.4% in the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after acquiring an additional 1,570 shares during the last quarter. 35.08% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $140.00 price objective on shares of Alphabet in a research note on Wednesday, September 13th. Morgan Stanley raised their price target on shares of Alphabet from $150.00 to $155.00 in a research note on Wednesday, July 26th. Rosenblatt Securities raised their price target on shares of Alphabet from $132.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Sanford C. Bernstein raised their price target on shares of Alphabet from $130.00 to $135.00 in a research note on Wednesday, July 26th. Finally, StockNews.com started coverage on shares of Alphabet in a research note on Thursday, October 5th. They set a “buy” rating on the stock. Four investment 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $144.27.
Alphabet Stock Down 1.2 %
Shares of NASDAQ:GOOGL opened at $137.36 on Friday. The company has a quick ratio of 2.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $141.22. The company has a 50 day moving average of $133.51 and a two-hundred day moving average of $122.88. The company has a market capitalization of $1.73 trillion, a price-to-earnings ratio of 29.10, a price-to-earnings-growth ratio of 1.59 and a beta of 1.06.
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its quarterly earnings data 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. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The company had revenue of $74.60 billion during the quarter, compared to the consensus estimate of $60.24 billion. During the same quarter last year, the company earned $1.21 earnings per share. As a group, analysts forecast that Alphabet Inc. will post 5.68 earnings per share for the current fiscal year.
Insider Transactions at Alphabet
In other news, SVP Prabhakar Raghavan sold 16,083 shares of the firm’s stock in a transaction that occurred on 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 sale, the senior vice president now owns 75,621 shares of the company’s stock, valued at $10,119,602.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of Alphabet stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $133.82, for a total value of $2,152,227.06. Following the completion of the transaction, the senior vice president now owns 75,621 shares of the company’s stock, valued at $10,119,602.22. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 42,900 shares of Alphabet stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $136.51, for a total transaction of $5,856,279.00. Following the completion of the transaction, the insider now directly owns 10,383 shares of the company’s stock, valued at approximately $1,417,383.33. The disclosure for this sale can be found here. Over the last quarter, insiders sold 101,091 shares of company stock valued at $13,530,462. 0.88% of the stock is currently owned by corporate insiders.
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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