Sigma Planning Corp cut its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 137,321 shares of the information services provider’s stock after selling 689 shares during the quarter. Sigma Planning Corp’s holdings in Alphabet were worth $14,244,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Live Oak Investment Partners purchased a new position in shares of Alphabet in the fourth quarter worth about $26,000. Sanctuary Wealth Management L.L.C. acquired a new stake in Alphabet during the fourth quarter worth about $34,000. Turim 21 Investimentos Ltda. acquired a new stake in Alphabet in the third quarter valued at approximately $38,000. IAG Wealth Partners LLC grew its holdings in Alphabet by 100.0% in the first quarter. IAG Wealth Partners LLC now owns 400 shares of the information services provider’s stock valued at $41,000 after purchasing an additional 200 shares during the period. Finally, AM Squared Ltd acquired a new stake in Alphabet in the fourth quarter valued at approximately $44,000. 35.38% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total value of $25,130.00. Following the completion of the sale, the director now directly owns 5,740 shares of the company’s stock, valued at $721,231. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total value of $25,130.00. Following the completion of the sale, the director now directly owns 5,740 shares of the company’s stock, valued at $721,231. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,922 shares of the business’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $14.13, for a total value of $1,242,337.86. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 430,790 shares of company stock valued at $20,443,054. 0.88% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Several analysts have commented on GOOGL shares. Wells Fargo & Company raised their price objective on Alphabet from $116.00 to $121.00 in a report on Wednesday, July 26th. StockNews.com began coverage on Alphabet in a report on Thursday, May 18th. They issued a “buy” rating on the stock. Rosenblatt Securities raised their target price on Alphabet from $132.00 to $163.00 and gave the company a “buy” rating in a research report on Wednesday, July 26th. Loop Capital downgraded Alphabet from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. in a research report on Monday, May 15th. Finally, Jefferies Financial Group raised their target price on Alphabet from $150.00 to $165.00 in a research report on Wednesday, July 26th. Four research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $142.19.
View Our Latest Report on Alphabet
Alphabet Price Performance
NASDAQ:GOOGL opened at $129.56 on Monday. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $133.74. The company has a quick ratio of 2.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $1.63 trillion, a P/E ratio of 27.45, a P/E/G ratio of 1.50 and a beta of 1.06. The stock’s fifty day moving average is $123.95 and its two-hundred day moving average is $111.38.
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its earnings results on Tuesday, July 25th. The information services provider reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.12. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. The company had revenue of $74.60 billion for the quarter, compared to the consensus estimate of $60.24 billion. During the same quarter in the previous year, the business earned $1.21 earnings per share. Equities analysts expect that Alphabet Inc. will post 5.67 EPS for the current year.
Alphabet Company 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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