Benjamin F. Edwards & Company Inc. Raises Stake in Alphabet Inc. (NASDAQ:GOOGL)

Benjamin F. Edwards & Company Inc. lifted its position in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 18.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,534 shares of the information services provider’s stock after acquiring an additional 397 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Alphabet were worth $7,048,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bay Rivers Group raised its holdings in Alphabet by 5.9% in the first quarter. Bay Rivers Group now owns 1,418 shares of the information services provider’s stock worth $3,944,000 after purchasing an additional 79 shares in the last quarter. Pinnacle Wealth Management Group Inc. raised its holdings in Alphabet by 2.6% in the first quarter. Pinnacle Wealth Management Group Inc. now owns 390 shares of the information services provider’s stock worth $1,085,000 after purchasing an additional 10 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in Alphabet by 4.8% in the first quarter. Steward Partners Investment Advisory LLC now owns 40,211 shares of the information services provider’s stock worth $111,841,000 after purchasing an additional 1,857 shares in the last quarter. Landmark Wealth Management LLC bought a new position in Alphabet in the first quarter worth about $312,000. Finally, Pittenger & Anderson Inc. raised its holdings in Alphabet by 2.3% in the first quarter. Pittenger & Anderson Inc. now owns 11,591 shares of the information services provider’s stock worth $32,239,000 after purchasing an additional 263 shares in the last quarter. 41.70% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 31 shares of the firm’s stock in a transaction on Monday, May 9th. The stock was sold at an average price of $2,280.98, for a total value of $70,710.38. Following the completion of the sale, the director now directly owns 265 shares of the company’s stock, valued at approximately $604,459.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 31 shares of the firm’s stock in a transaction on Monday, May 9th. The stock was sold at an average price of $2,280.98, for a total value of $70,710.38. Following the completion of the sale, the director now directly owns 265 shares of the company’s stock, valued at approximately $604,459.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Prabhakar Raghavan sold 1,109 shares of the firm’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total value of $2,402,914.66. Following the completion of the sale, the senior vice president now directly owns 1,608 shares of the company’s stock, valued at $3,484,117.92. The disclosure for this sale can be found here. Insiders sold 7,584 shares of company stock valued at $11,646,684 in the last three months. 11.44% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on GOOGL shares. Canaccord Genuity Group reduced their target price on shares of Alphabet from $175.00 to $165.00 and set a “buy” rating for the company in a report on Wednesday, April 27th. Moffett Nathanson dropped their price target on Alphabet to $132.50 in a research note on Thursday, May 26th. Truist Financial dropped their price target on Alphabet from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, July 27th. Barclays dropped their price target on Alphabet from $160.00 to $150.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 5th. Finally, Wells Fargo & Company dropped their price target on Alphabet from $170.00 to $160.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 27th. Five analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $147.36.

Alphabet Stock Up 2.6 %

NASDAQ GOOGL opened at $118.08 on Thursday. The business has a fifty day moving average price of $154.96 and a 200 day moving average price of $138.24. Alphabet Inc. has a one year low of $101.88 and a one year high of $151.55. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.78 and a current ratio of 2.81. The company has a market cap of $1.56 trillion, a P/E ratio of 21.97, a P/E/G ratio of 1.85 and a beta of 1.08.

Alphabet (NASDAQ:GOOGLGet Rating) last posted its quarterly earnings data on Tuesday, July 26th. The information services provider reported $1.21 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.11). Alphabet had a net margin of 25.89% and a return on equity of 28.65%. During the same period last year, the company earned $27.26 earnings per share. Research analysts anticipate that Alphabet Inc. will post 5.22 EPS for the current fiscal year.

Alphabet Company Profile

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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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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