BCS Wealth Management grew its holdings in Alphabet Inc. (NASDAQ:GOOG) by 16.3% in the 1st quarter, Holdings Channel reports. The institutional investor owned 171 shares of the information services provider’s stock after buying an additional 24 shares during the quarter. BCS Wealth Management’s holdings in Alphabet were worth $354,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of GOOG. Resolute Partners Group purchased a new position in Alphabet during the fourth quarter worth $26,000. Mascoma Wealth Management LLC purchased a new stake in shares of Alphabet in the first quarter valued at $27,000. Brand Asset Management Group Inc. grew its position in shares of Alphabet by 200.0% in the first quarter. Brand Asset Management Group Inc. now owns 15 shares of the information services provider’s stock valued at $31,000 after purchasing an additional 10 shares during the period. ADE LLC purchased a new stake in shares of Alphabet in the fourth quarter valued at $32,000. Finally, Carolina Wealth Advisors LLC grew its position in shares of Alphabet by 50.0% in the first quarter. Carolina Wealth Advisors LLC now owns 18 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 6 shares during the period. 31.94% of the stock is owned by institutional investors and hedge funds.
GOOG has been the topic of a number of research analyst reports. Mizuho lifted their target price on Alphabet from $2,350.00 to $2,600.00 and gave the company a “buy” rating in a report on Monday, April 19th. Cowen boosted their price target on Alphabet from $2,600.00 to $2,700.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 28th. Evercore ISI reiterated an “outperform” rating and issued a $2,525.00 price target on shares of Alphabet in a research note on Tuesday, April 13th. Deutsche Bank Aktiengesellschaft boosted their price target on Alphabet from $2,600.00 to $3,050.00 and gave the stock a “buy” rating in a research note on Wednesday, April 28th. Finally, Raymond James upped their target price on Alphabet from $2,440.00 to $2,750.00 and gave the company an “outperform” rating in a report on Tuesday. One investment analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. Alphabet has an average rating of “Buy” and a consensus target price of $2,495.63.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Monday, April 26th. The information services provider reported $26.29 earnings per share for the quarter, topping the consensus estimate of $15.74 by $10.55. The company had revenue of $55.30 billion for the quarter, compared to analyst estimates of $51.40 billion. Alphabet had a net margin of 20.80% and a return on equity of 17.31%. Alphabet’s revenue for the quarter was up 34.4% compared to the same quarter last year. During the same period in the previous year, the business earned $9.87 EPS. As a group, equities research analysts forecast that Alphabet Inc. will post 52.19 EPS for the current fiscal year.
In related news, Director John L. Hennessy sold 70 shares of the company’s stock in a transaction dated Monday, February 8th. The shares were sold at an average price of $2,085.54, for a total value of $145,987.80. Following the transaction, the director now owns 41 shares in the company, valued at approximately $85,507.14. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Philipp Schindler sold 1,385 shares of the business’s stock in a transaction dated Friday, April 30th. The shares were sold at an average price of $2,403.54, for a total transaction of $3,328,902.90. Following the completion of the sale, the senior vice president now directly owns 18,465 shares of the company’s stock, valued at approximately $44,381,366.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,131 shares of company stock worth $43,393,845. 12.99% of the stock is owned by company insiders.
Alphabet Company Profile
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. The company offers performance and brand advertising services. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, such as ads, Android, Chrome, hardware, Google Maps, Google Play, Search, and YouTube, as well as technical infrastructure; and digital content.
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