Magnus Financial Group LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 518 shares of the information services provider’s stock after buying an additional 6 shares during the period. Magnus Financial Group LLC’s holdings in Alphabet were worth $1,501,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Morling Financial Advisors LLC acquired a new stake in Alphabet in the fourth quarter valued at approximately $29,000. West Bancorporation Inc. acquired a new position in shares of Alphabet during the fourth quarter worth $29,000. J Arnold Wealth Management Co acquired a new position in shares of Alphabet during the third quarter worth $40,000. NS Partners Ltd acquired a new position in shares of Alphabet during the fourth quarter worth $41,000. Finally, Schubert & Co acquired a new position in shares of Alphabet during the fourth quarter worth $43,000. Hedge funds and other institutional investors own 41.70% of the company’s stock.
A number of equities analysts have recently commented on GOOGL shares. Evercore ISI cut their price target on shares of Alphabet from $3,500.00 to $3,300.00 and set an “outperform” rating on the stock in a report on Wednesday, April 27th. Wedbush cut their price target on shares of Alphabet from $3,800.00 to $3,113.00 in a report on Wednesday, April 27th. StockNews.com lowered shares of Alphabet from a “buy” rating to a “hold” rating in a report on Friday, April 29th. Barclays lowered their target price on shares of Alphabet from $3,300.00 to $3,200.00 and set an “overweight” rating for the company in a research note on Wednesday, April 27th. Finally, UBS Group lowered their target price on shares of Alphabet from $3,850.00 to $3,600.00 and set a “buy” rating for the company in a research note on Wednesday, April 27th. Four research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $3,314.08.
Alphabet shares are going to split on the morning of Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly created shares will be issued to shareholders after the closing bell on Friday, July 15th.
Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings results on Tuesday, April 26th. The information services provider reported $24.62 earnings per share for the quarter, missing the consensus estimate of $25.51 by ($0.89). Alphabet had a return on equity of 30.18% and a net margin of 27.57%. During the same quarter in the previous year, the firm earned $26.29 EPS. On average, sell-side analysts predict that Alphabet Inc. will post 112.62 earnings per share for the current fiscal year.
In other Alphabet news, CAO Amie Thuener O’toole sold 42 shares of the business’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 1,170 shares in the company, valued at $2,732,301. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv bought 255,647 shares of the company’s stock in a transaction on Tuesday, May 10th. The stock was bought at an average price of $34.65 per share, for a total transaction of $8,858,168.55. Following the completion of the purchase, the insider now owns 479,695 shares of the company’s stock, valued at $16,621,431.75. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 550,261 shares of company stock worth $21,637,779. 13.20% of the stock is owned by corporate insiders.
Alphabet Profile (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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