Lafayette Investments Inc. bought a new stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,745 shares of the information services provider’s stock, valued at approximately $209,000.
A number of other hedge funds have also modified their holdings of GOOGL. Modera Wealth Management LLC increased its position in Alphabet by 11.4% during the first quarter. Modera Wealth Management LLC now owns 43,230 shares of the information services provider’s stock worth $4,484,000 after purchasing an additional 4,420 shares during the last quarter. Atria Investments Inc increased its position in Alphabet by 7.4% during the first quarter. Atria Investments Inc now owns 316,800 shares of the information services provider’s stock worth $32,918,000 after purchasing an additional 21,907 shares during the last quarter. Cadent Capital Advisors LLC increased its position in Alphabet by 3.4% during the second quarter. Cadent Capital Advisors LLC now owns 4,158 shares of the information services provider’s stock worth $498,000 after purchasing an additional 136 shares during the last quarter. Hallmark Capital Management Inc. increased its position in Alphabet by 8.9% during the first quarter. Hallmark Capital Management Inc. now owns 167,148 shares of the information services provider’s stock worth $17,338,000 after purchasing an additional 13,605 shares during the last quarter. Finally, Marcum Wealth LLC increased its position in Alphabet by 4.8% during the first quarter. Marcum Wealth LLC now owns 20,372 shares of the information services provider’s stock worth $2,113,000 after purchasing an additional 927 shares during the last quarter. 35.08% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the stock. 51job restated a “downgrade” rating on shares of Alphabet in a research report on Tuesday, June 27th. Susquehanna reiterated a “positive” rating and set a $150.00 price target on shares of Alphabet in a research report on Thursday, August 31st. Rosenblatt Securities lifted their price target on shares of Alphabet from $132.00 to $163.00 and gave the company a “buy” rating in a research report on Wednesday, July 26th. Credit Suisse Group lifted their price target on shares of Alphabet from $135.00 to $150.00 and gave the company an “outperform” rating in a research report on Monday, July 17th. Finally, Evercore ISI lifted their price target on shares of Alphabet from $130.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, July 26th. Four analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $144.27.
Insider Buying and Selling at Alphabet
In other Alphabet news, CAO Amie Thuener O’toole sold 3,749 shares of the business’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 25,568 shares of the company’s stock, valued at approximately $3,484,407.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 3,749 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now directly owns 25,568 shares in the company, valued at approximately $3,484,407.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann Mather sold 220 shares of the business’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $121.75, for a total transaction of $26,785.00. Following the sale, the director now owns 4,759 shares in the company, valued at $579,408.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,091 shares of company stock valued at $13,530,462. 0.88% of the stock is owned by company insiders.
Alphabet Stock Performance
Shares of Alphabet stock opened at $137.36 on Friday. The firm’s fifty day simple moving average is $133.51 and its 200-day simple moving average is $122.88. The stock has a market capitalization of $1.73 trillion, a price-to-earnings ratio of 29.10, a PEG ratio of 1.59 and a beta of 1.06. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $141.22. 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 announced 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. The company had revenue of $74.60 billion for the quarter, compared to analysts’ expectations of $60.24 billion. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. During the same period in the previous year, the company posted $1.21 EPS. As a group, equities analysts forecast that Alphabet Inc. will post 5.68 earnings per share for the current year.
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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