Oakworth Capital Inc. lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 4.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,280 shares of the information services provider’s stock after acquiring an additional 552 shares during the quarter. Alphabet accounts for about 3.4% of Oakworth Capital Inc.’s holdings, making the stock its 7th largest position. Oakworth Capital Inc.’s holdings in Alphabet were worth $39,884,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Ridgewood Investments LLC increased its position in shares of Alphabet by 3.5% during the first quarter. Ridgewood Investments LLC now owns 706 shares of the information services provider’s stock valued at $1,971,000 after acquiring an additional 24 shares during the last quarter. Richard P Slaughter Associates Inc increased its position in shares of Alphabet by 15.3% during the first quarter. Richard P Slaughter Associates Inc now owns 1,084 shares of the information services provider’s stock valued at $3,029,000 after acquiring an additional 144 shares during the last quarter. Asset Allocation & Management Company LLC purchased a new stake in shares of Alphabet during the first quarter valued at approximately $978,000. Veriti Management LLC increased its position in Alphabet by 6.2% in the first quarter. Veriti Management LLC now owns 2,461 shares of the information services provider’s stock worth $6,874,000 after buying an additional 144 shares during the last quarter. Finally, 360 Financial Inc. increased its position in Alphabet by 6.2% in the first quarter. 360 Financial Inc. now owns 154 shares of the information services provider’s stock worth $442,000 after buying an additional 9 shares during the last quarter. 31.20% of the stock is owned by institutional investors.
A number of research firms have issued reports on GOOG. Raymond James decreased their target price on Alphabet from $3,630.00 to $3,180.00 in a research report on Wednesday, April 27th. JPMorgan Chase & Co. decreased their target price on Alphabet from $3,450.00 to $3,200.00 in a research report on Wednesday, April 27th. Wedbush reissued an “outperform” rating on shares of Alphabet in a research report on Wednesday, April 20th. Tigress Financial raised their target price on Alphabet from $3,540.00 to $3,670.00 in a research report on Friday, March 18th. Finally, Canaccord Genuity Group decreased their target price on Alphabet from $3,500.00 to $3,300.00 and set a “buy” rating for the company in a research report on Wednesday, April 27th. Twenty-nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alphabet has an average rating of “Buy” and a consensus price target of $3,315.38.
Alphabet shares are scheduled to split on the morning of Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly minted shares will be issued to shareholders after the closing bell on Friday, July 15th.
Alphabet (NASDAQ:GOOG – Get Rating) last issued its quarterly earnings results on Tuesday, April 26th. The information services provider reported $24.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $25.70 by ($1.08). Alphabet had a return on equity of 30.18% and a net margin of 27.57%. The firm had revenue of $56.02 billion for the quarter, compared to the consensus estimate of $56.17 billion. During the same period last year, the firm earned $26.29 EPS. Equities analysts forecast that Alphabet Inc. will post 111.86 earnings per share for the current fiscal year.
In other news, CAO Amie Thuener O’toole sold 42 shares of Alphabet stock in a transaction dated Friday, April 1st. The stock was sold at an average price of $2,800.20, for a total value of $117,608.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder 2016 Gp L.L.C. Gv sold 544,249 shares of Alphabet stock in a transaction dated Monday, April 11th. The stock was sold at an average price of $11.16, for a total value of $6,073,818.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 551,675 shares of company stock valued at $25,567,428. Corporate insiders own 12.99% of the company’s stock.
About Alphabet (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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