AlphaCore Capital LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 3.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,189 shares of the information services provider’s stock after acquiring an additional 531 shares during the period. AlphaCore Capital LLC’s holdings in Alphabet were worth $1,892,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in GOOG. Totem Point Management LLC lifted its holdings in shares of Alphabet by 22.0% in the 1st quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock valued at $8,857,000 after purchasing an additional 571 shares during the last quarter. Somerville Kurt F lifted its stake in Alphabet by 10.3% in the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after buying an additional 11 shares during the last quarter. BCK Partners Inc. acquired a new stake in shares of Alphabet in the first quarter valued at approximately $2,564,000. Hall Capital Management Co. Inc. grew its position in shares of Alphabet by 53.2% during the first quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock worth $402,000 after acquiring an additional 50 shares during the last quarter. Finally, Fairfield Bush & CO. grew its position in shares of Alphabet by 6.8% during the first quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock worth $9,412,000 after acquiring an additional 214 shares during the last quarter. Institutional investors and hedge funds own 27.13% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts recently commented on GOOG shares. Susquehanna upped their price target on shares of Alphabet from $120.00 to $150.00 in a research report on Wednesday, July 26th. Robert W. Baird upped their target price on shares of Alphabet from $123.00 to $140.00 in a report on Wednesday, July 26th. Wedbush initiated coverage on Alphabet in a report on Monday, August 21st. They set an “outperform” rating on the stock. Finally, Oppenheimer boosted their price target on Alphabet from $145.00 to $160.00 in a research report on Wednesday, July 26th. Thirteen research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alphabet has a consensus rating of “Buy” and an average price target of $132.00.
Alphabet Price Performance
Alphabet stock traded up $0.79 during midday trading on Wednesday, reaching $136.28. The company’s stock had a trading volume of 8,276,863 shares, compared to its average volume of 27,450,201. The firm has a market capitalization of $1.72 trillion, a PE ratio of 28.71, a P/E/G ratio of 1.52 and a beta of 1.06. Alphabet Inc. has a fifty-two week low of $83.45 and a fifty-two week high of $137.29. The stock’s 50 day simple moving average is $126.04 and its 200 day simple moving average is $114.45. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.14 and a current ratio of 2.17.
Alphabet (NASDAQ:GOOG – Get Free Report) last announced its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.12. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The business had revenue of $74.60 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter last year, the firm posted $1.21 EPS. The business’s revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts forecast that Alphabet Inc. will post 5.68 earnings per share for the current year.
In related news, SVP Prabhakar Raghavan sold 16,083 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $120.31, for a total value of $1,934,945.73. Following the completion of the transaction, the senior vice president now directly owns 127,028 shares of the company’s stock, valued at approximately $15,282,738.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Prabhakar Raghavan sold 16,083 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $120.31, for a total value of $1,934,945.73. Following the sale, the senior vice president now directly owns 127,028 shares of the company’s stock, valued at approximately $15,282,738.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 31,240 shares of the firm’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $116.82, for a total transaction of $3,649,456.80. Following the transaction, the director now owns 5,364 shares of the company’s stock, valued at $626,622.48. The disclosure for this sale can be found here. In the last three months, insiders sold 185,787 shares of company stock worth $8,950,675. Company insiders own 12.99% of the company’s stock.
Alphabet Company Profile
Alphabet Inc offers 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 provides products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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