Grant GrossMendelsohn LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 251 shares of the information services provider’s stock, valued at approximately $652,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in GOOGL. Amplius Wealth Advisors LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at about $1,422,000. Edge Wealth Management LLC lifted its stake in shares of Alphabet by 1.4% in the fourth quarter. Edge Wealth Management LLC now owns 10,641 shares of the information services provider’s stock worth $30,826,000 after buying an additional 146 shares in the last quarter. BNC Wealth Management LLC lifted its stake in shares of Alphabet by 4.2% in the fourth quarter. BNC Wealth Management LLC now owns 3,422 shares of the information services provider’s stock worth $9,914,000 after buying an additional 138 shares in the last quarter. Moser Wealth Advisors LLC lifted its stake in shares of Alphabet by 4.1% in the fourth quarter. Moser Wealth Advisors LLC now owns 176 shares of the information services provider’s stock worth $510,000 after buying an additional 7 shares in the last quarter. Finally, Trek Financial LLC lifted its stake in shares of Alphabet by 3.4% in the fourth quarter. Trek Financial LLC now owns 1,065 shares of the information services provider’s stock worth $3,085,000 after buying an additional 35 shares in the last quarter. Institutional investors and hedge funds own 41.70% of the company’s stock.
In related news, CAO Amie Thuener O’toole sold 42 shares of the company’s stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $2,335.30, for a total value of $98,082.60. Following the completion of the sale, the chief accounting officer now owns 1,170 shares in the company, valued at approximately $2,732,301. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv purchased 13,528 shares of Alphabet stock in a transaction that occurred on Tuesday, May 24th. The stock was acquired at an average price of $33.72 per share, with a total value of $456,164.16. Following the transaction, the insider now owns 593,402 shares in the company, valued at $20,009,515.44. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 5,839 shares of company stock valued at $12,873,739. Company insiders own 11.44% of the company’s stock.
GOOGL has been the topic of several research reports. Wolfe Research decreased their price target on shares of Alphabet from $3,500.00 to $2,900.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 27th. Mizuho reduced their target price on shares of Alphabet from $3,600.00 to $3,500.00 and set a “buy” rating on the stock in a research note on Wednesday, April 27th. Wedbush reduced their target price on shares of Alphabet from $3,800.00 to $3,113.00 in a research note on Wednesday, April 27th. Piper Sandler reduced their target price on shares of Alphabet from $2,900.00 to $2,775.00 and set an “overweight” rating on the stock in a research note on Thursday, June 2nd. Finally, Rosenblatt Securities initiated coverage on shares of Alphabet in a research note on Tuesday, April 19th. They set a “buy” rating and a $4,183.00 target price on the stock. One investment analyst has rated the stock with a hold rating, thirty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $3,244.22.
NASDAQ GOOGL opened at $2,227.07 on Thursday. The company has a quick ratio of 2.85, a current ratio of 2.87 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 52 week low of $2,037.69 and a 52 week high of $3,030.93. The stock has a market capitalization of $1.47 trillion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 1.17 and a beta of 1.10. The firm has a 50 day moving average of $2,250.35 and a two-hundred day moving average of $2,531.92.
Alphabet shares are going to split before the market opens on Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly issued shares will be issued to shareholders after the closing bell on Friday, July 15th.
Alphabet (NASDAQ:GOOGL – Get Rating) last issued its earnings results on Tuesday, April 26th. The information services provider reported $24.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $25.70 by ($1.08). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. The company had revenue of $56.02 billion during the quarter, compared to analyst estimates of $56.17 billion. During the same quarter in the previous year, the company posted $26.29 EPS. On average, equities research analysts expect that Alphabet Inc. will post 110.62 earnings per share for the current fiscal year.
About Alphabet (Get Rating)
Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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