Leisure Capital Management reduced its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 7.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,198 shares of the information services provider’s stock after selling 1,450 shares during the period. Alphabet comprises approximately 1.1% of Leisure Capital Management’s holdings, making the stock its 23rd largest position. Leisure Capital Management’s holdings in Alphabet were worth $2,059,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. DC Investments Management LLC acquired a new position in Alphabet in the 1st quarter worth approximately $114,000. Bridgefront Capital LLC acquired a new position in Alphabet in the 1st quarter worth approximately $225,000. Worth Asset Management LLC purchased a new stake in Alphabet in the 1st quarter worth approximately $206,000. Eudaimonia Advisors LLC lifted its position in Alphabet by 15.1% in the 1st quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after buying an additional 13 shares in the last quarter. Finally, Aspire Capital Advisors LLC purchased a new stake in Alphabet in the 1st quarter worth approximately $281,000. Hedge funds and other institutional investors own 35.08% of the company’s stock.
Analysts Set New Price Targets
GOOGL has been the subject of a number of research analyst reports. UBS Group downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and increased their target price for the stock from $123.00 to $132.00 in a research report on Monday, June 26th. Truist Financial raised their price target on shares of Alphabet from $122.00 to $160.00 in a report on Wednesday, July 26th. Mizuho raised their price target on shares of Alphabet from $135.00 to $155.00 in a report on Wednesday, July 26th. 888 restated a “downgrade” rating on shares of Alphabet in a report on Monday, June 26th. Finally, JPMorgan Chase & Co. raised their price target on shares of Alphabet from $121.00 to $150.00 in a report on Wednesday, July 26th. 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $144.27.
Alphabet Price Performance
Shares of GOOGL opened at $135.60 on Monday. The firm has a market capitalization of $1.71 trillion, a PE ratio of 28.73, a PEG ratio of 1.55 and a beta of 1.06. The company’s 50-day moving average is $134.28 and its 200-day moving average is $124.24. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week 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 issued its quarterly earnings data 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 net margin of 21.05% and a return on equity of 23.49%. The business had revenue of $74.60 billion during the quarter, compared to analysts’ expectations of $60.24 billion. During the same quarter in the previous year, the company earned $1.21 EPS. Equities analysts forecast that Alphabet Inc. will post 5.68 EPS for the current year.
Insiders Place Their Bets
In other Alphabet news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $131.14, for a total value of $26,228.00. Following the transaction, the director now directly owns 5,340 shares of the company’s stock, valued at approximately $700,287.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Alphabet news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $131.14, for a total value of $26,228.00. Following the transaction, the director now directly owns 5,340 shares of the company’s stock, valued at approximately $700,287.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $510,913.72. Following the sale, the chief accounting officer now directly owns 25,568 shares in the company, valued at $3,484,407.04. The disclosure for this sale can be found here. Insiders sold 101,091 shares of company stock worth $13,530,462 in the last quarter. 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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