Adviser Investments LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,301 shares of the information services provider’s stock after buying an additional 18 shares during the period. Adviser Investments LLC’s holdings in Alphabet were worth $2,690,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. Leelyn Smith LLC boosted its stake in Alphabet by 440.0% in the 1st quarter. Leelyn Smith LLC now owns 81 shares of the information services provider’s stock worth $168,000 after purchasing an additional 66 shares during the period. Ballast Inc. boosted its position in shares of Alphabet by 24.4% during the first quarter. Ballast Inc. now owns 158 shares of the information services provider’s stock worth $326,000 after buying an additional 31 shares during the period. D Orazio & Associates Inc. grew its holdings in shares of Alphabet by 4.7% during the first quarter. D Orazio & Associates Inc. now owns 270 shares of the information services provider’s stock worth $559,000 after buying an additional 12 shares in the last quarter. Cadence Bank NA raised its position in Alphabet by 12.0% in the 1st quarter. Cadence Bank NA now owns 793 shares of the information services provider’s stock valued at $1,640,000 after buying an additional 85 shares during the last quarter. Finally, Wade G W & Inc. lifted its stake in Alphabet by 51.3% in the 1st quarter. Wade G W & Inc. now owns 5,799 shares of the information services provider’s stock valued at $11,997,000 after acquiring an additional 1,965 shares in the last quarter. Hedge funds and other institutional investors own 31.94% of the company’s stock.
GOOG has been the topic of a number of recent research reports. Citigroup downgraded shares of Alphabet from a “buy” rating to a “neutral” rating in a report on Monday, May 10th. Evercore ISI reaffirmed an “outperform” rating and set a $2,525.00 price target on shares of Alphabet in a research report on Tuesday, April 13th. The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a report on Wednesday, February 3rd. Mizuho lifted their price objective on shares of Alphabet from $2,350.00 to $2,600.00 and gave the company a “buy” rating in a research report on Monday, April 19th. Finally, Barclays reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, April 28th. Three equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Alphabet currently has a consensus rating of “Buy” and a consensus target price of $2,495.63.
Alphabet (NASDAQ:GOOG) last issued its earnings results on Monday, April 26th. The information services provider reported $26.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $15.74 by $10.55. Alphabet had a return on equity of 17.31% and a net margin of 20.80%. The firm had revenue of $55.30 billion during the quarter, compared to the consensus estimate of $51.40 billion. During the same quarter in the previous year, the firm earned $9.87 earnings per share. The business’s quarterly revenue was up 34.4% on a year-over-year basis. On average, sell-side analysts anticipate that Alphabet Inc. will post 52.19 EPS for the current fiscal year.
In related news, Director Ann Mather sold 27 shares of the firm’s stock in a transaction that occurred on Monday, May 3rd. The stock was sold at an average price of $2,402.16, for a total transaction of $64,858.32. Following the completion of the sale, the director now owns 462 shares of the company’s stock, valued at $1,109,797.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 18 shares of Alphabet stock in a transaction that occurred on Friday, May 7th. The stock was sold at an average price of $2,400.00, for a total value of $43,200.00. Following the completion of the sale, the chief accounting officer now owns 979 shares of the company’s stock, valued at $2,349,600. The disclosure for this sale can be found here. In the last three months, insiders sold 41,036 shares of company stock worth $91,551,013. 12.99% of the stock is currently owned by insiders.
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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