Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Logan Capital Management Inc.

Logan Capital Management Inc. cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 192,323 shares of the information services provider’s stock after selling 612 shares during the quarter. Alphabet accounts for 1.0% of Logan Capital Management Inc.’s investment portfolio, making the stock its 22nd largest position. Logan Capital Management Inc.’s holdings in Alphabet were worth $19,950,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. Spreng Capital Management Inc. boosted its stake in shares of Alphabet by 4.0% in the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after purchasing an additional 5 shares in the last quarter. West Family Investments Inc. boosted its position in Alphabet by 0.3% in the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after buying an additional 6 shares in the last quarter. Maple Capital Management Inc. increased its holdings in shares of Alphabet by 2.1% during the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock worth $823,000 after buying an additional 6 shares in the last quarter. Private Advisory Group LLC raised its stake in shares of Alphabet by 1.8% in the first quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock valued at $1,115,000 after acquiring an additional 7 shares during the last quarter. Finally, Weik Capital Management boosted its holdings in shares of Alphabet by 0.5% in the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock worth $4,264,000 after acquiring an additional 8 shares in the last quarter. Hedge funds and other institutional investors own 35.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GOOGL. Jefferies Financial Group raised their price target on Alphabet from $150.00 to $165.00 in a report on Wednesday, July 26th. JMP Securities reaffirmed a “market outperform” rating and issued a $138.00 price target on shares of Alphabet in a report on Wednesday, August 30th. Rosenblatt Securities increased their price objective on shares of Alphabet from $132.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, July 26th. Wells Fargo & Company raised their price objective on shares of Alphabet from $116.00 to $121.00 in a research report on Wednesday, July 26th. Finally, Credit Suisse Group increased their price target on shares of Alphabet from $135.00 to $150.00 and gave the company an “outperform” rating in a research note on Monday, July 17th. Four investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $143.89.

Insider Buying and Selling

In other news, major shareholder 2019 Gp L.L.C. Gv sold 28,960 shares of the stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $14.87, for a total value of $430,635.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder 2019 Gp L.L.C. Gv sold 28,960 shares of Alphabet stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $14.87, for a total transaction of $430,635.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 31,240 shares of the company’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $116.82, for a total value of $3,649,456.80. Following the completion of the sale, the director now owns 5,364 shares in the company, valued at approximately $626,622.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 185,020 shares of company stock worth $13,551,820. 0.88% of the stock is owned by insiders.

Alphabet Stock Up 0.8 %

Shares of Alphabet stock opened at $136.38 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.14. The company has a market capitalization of $1.72 trillion, a P/E ratio of 28.89, a price-to-earnings-growth ratio of 1.56 and a beta of 1.06. The business has a 50-day moving average of $127.94 and a two-hundred day moving average of $115.89. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $138.00.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.12. The firm had revenue of $74.60 billion for the quarter, compared to the consensus estimate of $60.24 billion. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. During the same quarter last year, the business posted $1.21 EPS. As a group, equities analysts predict that Alphabet Inc. will post 5.68 EPS for the current year.

Alphabet 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.