Neville Rodie & Shaw Inc. cut its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 0.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 170,355 shares of the information services provider’s stock after selling 1,625 shares during the period. Alphabet comprises approximately 1.8% of Neville Rodie & Shaw Inc.’s portfolio, making the stock its 15th biggest holding. Neville Rodie & Shaw Inc.’s holdings in Alphabet were worth $20,608,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the business. Corrado Advisors LLC bought a new position in Alphabet during the fourth quarter valued at $27,000. Mark Sheptoff Financial Planning LLC grew its holdings in Alphabet by 142.9% during the first quarter. Mark Sheptoff Financial Planning LLC now owns 340 shares of the information services provider’s stock valued at $35,000 after purchasing an additional 200 shares during the period. Milestone Wealth LLC grew its holdings in Alphabet by 1,900.0% during the third quarter. Milestone Wealth LLC now owns 380 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 361 shares during the period. Bbjs Financial Advisors LLC bought a new position in Alphabet during the fourth quarter valued at $48,000. Finally, GW&K Investment Management LLC purchased a new stake in shares of Alphabet during the first quarter worth $50,000. 27.13% of the stock is owned by institutional investors.
Insider Activity at Alphabet
In related news, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of the business’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $15.06, for a total transaction of $563,319.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CAO Amie Thuener O’toole sold 3,749 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $136.28, for a total transaction of $510,913.72. Following the sale, the chief accounting officer now owns 25,568 shares of the company’s stock, valued at $3,484,407.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of the business’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $15.06, for a total transaction of $563,319.30. The disclosure for this sale can be found here. Insiders have sold 133,497 shares of company stock worth $12,785,260 over the last 90 days. 12.99% of the stock is owned by company insiders.
Alphabet Price Performance
Alphabet (NASDAQ:GOOG – Get Free Report) last released its quarterly earnings data 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 firm had revenue of $74.60 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter in the previous year, the company earned $1.21 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, equities analysts predict that Alphabet Inc. will post 5.68 earnings per share for the current year.
Analysts Set New Price Targets
Several research firms have issued reports on GOOG. Susquehanna increased their target price on Alphabet from $120.00 to $150.00 in a research report on Wednesday, July 26th. Robert W. Baird increased their target price on Alphabet from $123.00 to $140.00 in a research report on Wednesday, July 26th. Wedbush assumed coverage on Alphabet in a research report on Monday, August 21st. They issued an “outperform” rating on the stock. Finally, Oppenheimer increased their price objective on Alphabet from $145.00 to $160.00 in a research report on Wednesday, July 26th. Thirteen equities research analysts have rated the stock with a buy rating, According to MarketBeat, Alphabet has an average rating of “Buy” and an average price target of $130.94.
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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