Asset Allocation & Management Company LLC bought a new stake in shares of Alphabet Inc. (NASDAQ: GOOG – Get Rating) during the first quarter, reports HoldingsChannel.com. The institutional investor purchased 350 shares of the information services provider, valued at approximately $978,000.
Several other institutional investors and hedge funds have also increased or reduced their stakes in GOOG. Hoese & Co LLP increased its stake in Alphabet shares by 400.0% during the fourth quarter. Hoese & Co LLP now owns 10 shares of the information services provider worth $29,000 after acquiring 8 additional shares during the period. Maryland Capital Advisors Inc. acquired a new position in Alphabet in the fourth quarter worth approximately $29,000. Rather & Kittrell Inc. acquired a new position in Alphabet in the fourth quarter worth approximately $34,000. Paragon Capital Management Ltd acquired a new position in Alphabet in the fourth quarter worth approximately $35,000. Finally, Comprehensive Financial Consultants Institutional Inc. acquired a new position in Alphabet in the fourth quarter worth approximately $37,000. 31.20% of the shares are currently held by institutional investors.
Several stock analysts have weighed in on GOOG shares. Canaccord Genuity Group lowered its price target on Alphabet shares from $3,500.00 to $3,300.00 and set a “buy” rating on the stock in a Wednesday 27 research report. april. Tigress Financial raised its price target on Alphabet shares from $3,540.00 to $3,670.00 in a Friday, March 18 research report. Raymond James lowered his price target on Alphabet shares from $3,630.00 to $3,180.00 in a Wednesday, April 27 research report. Deutsche Bank Aktiengesellschaft lowered its price target on Alphabet shares from $3,150.00 to $2,900.00 in a research report on Wednesday, April 27. Finally, JPMorgan Chase & Co. lowered its price target on Alphabet shares from $3,450.00 to $3,200.00 in a Wednesday, April 27 research report. Twenty-nine investment analysts have rated the stock with a buy rating. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Buy” and a consensus price target of $3,315.38.
NASDAQ GOOG opened at $2,240.68 on Thursday. Alphabet Inc. has a 1 year minimum of $2,044.16 and a 1 year maximum of $3,042.00. The company has a debt ratio of 0.06, a current ratio of 2.87 and a quick ratio of 2.85. The company has a market capitalization of $1.48 trillion, a price/earnings ratio of 20.27, a PEG ratio of 1.04 and a beta of 1.13. The company has a fifty-day moving average price of $2,308.00 and a 200-day moving average price of $2,604.33.
Alphabet shares are set to split on the morning of Monday, July 18. The 20-1 split was announced on Tuesday, February 1. The newly created shares will be payable to shareholders after market close on Friday July 15.
Alphabet (NASDAQ:GOOG – Get Rating) last released its quarterly results on Tuesday, April 26. The information services provider reported earnings per share of $24.62 for the quarter, missing the consensus estimate of $25.70 per ($1.08). The company posted revenue of $56.02 billion for the quarter, versus a consensus estimate of $56.17 billion. Alphabet had a net margin of 27.57% and a return on equity of 30.18%. In the same quarter a year earlier, the company posted EPS of $26.29. On average, research analysts expect Alphabet Inc. to post an EPS of 111.86 for the current fiscal year.
In other news, major shareholder 2021 Gp LLC Gv purchased 13,528 shares in a transaction dated Tuesday, May 24. The shares were purchased at an average cost of $33.72 per share, with a total value of $456,164.16. Following the completion of the acquisition, the insider now owns 593,402 shares of the company, valued at approximately $20,009,515.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. Additionally, major shareholder 2016 Gp LLC Gv sold 544,249 shares in a transaction dated Monday, April 11. The stock was sold at an average price of $11.16, for a total transaction of $6,073,818.84. The disclosure of this sale can be found here. In the past ninety days, insiders have sold 551,675 shares of the company worth $25,567,428. Insiders own 12.99% of the shares of the company.
Alphabet Company Profile (Get an assessment)
Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, 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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