Heritage Wealth Advisors lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 2.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 41,155 shares of the information services provider’s stock after acquiring an additional 840 shares during the quarter. Heritage Wealth Advisors’ holdings in Alphabet were worth $4,269,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in GOOGL. Spreng Capital Management Inc. boosted its holdings in Alphabet by 4.0% during the first quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after acquiring an additional 5 shares during the period. West Family Investments Inc. lifted its stake in shares of Alphabet by 0.3% in the first 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. lifted its stake in shares of Alphabet by 2.1% in the first 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 lifted its stake in shares of Alphabet by 1.8% in the first 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 lifted its stake in shares of Alphabet by 0.5% in the first 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. 35.38% of the stock is currently owned by institutional investors.
Alphabet Price Performance
Shares of GOOGL stock opened at $129.66 on Thursday. The firm’s 50 day moving average price is $123.73 and its two-hundred day moving average price is $110.84. The stock has a market cap of $1.63 trillion, a PE ratio of 27.47, a PEG ratio of 1.52 and a beta of 1.06. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $133.74. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.14 and a current ratio of 2.17.
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $60.24 billion. During the same period last year, the firm posted $1.21 earnings per share. As a group, analysts forecast that Alphabet Inc. will post 5.64 EPS for the current year.
Insider Buying and Selling
In related news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total transaction of $25,130.00. Following the sale, the director now directly owns 5,740 shares in the company, valued at $721,231. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Alphabet news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction on Friday, July 28th. The shares were sold at an average price of $130.95, for a total value of $30,118.50. Following the sale, the director now directly owns 13,329 shares in the company, valued at approximately $1,745,432.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total transaction of $25,130.00. Following the completion of the sale, the director now owns 5,740 shares in the company, valued at $721,231. The disclosure for this sale can be found here. Insiders have sold a total of 615,832 shares of company stock worth $22,776,264 over the last ninety days. Company insiders own 0.88% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts recently weighed in on the stock. KeyCorp increased their target price on shares of Alphabet from $140.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, July 26th. StockNews.com assumed coverage on shares of Alphabet in a research note on Thursday, May 18th. They issued a “buy” rating for the company. Stifel Nicolaus increased their target price on shares of Alphabet from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, July 21st. Citigroup increased their price target on shares of Alphabet from $130.00 to $153.00 in a research report on Wednesday, July 26th. Finally, Credit Suisse Group increased their price target on shares of Alphabet from $135.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, July 17th. Four investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $142.19.
Check Out Our Latest Research Report on Alphabet
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.
Read More
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL – Free Report).
Receive News & Ratings for Alphabet Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Alphabet and related companies with MarketBeat.com’s FREE daily email newsletter.