HighTower Trust Services LTA reduced its stake in shares of Alphabet Inc. (NASDAQ: GOOGL – Get a rating) by 16.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The company held 221 shares of the information services provider after selling 44 shares during the period. HighTower Trust Services LTA’s holdings in Alphabet were worth $615,000 at the end of the last reporting period.
Several other hedge funds also changed their holdings in the company. BT Wealth Management LLC increased its stake in Alphabet shares by 4.5% in Q1. BT Wealth Management LLC now owns 280 shares of the information services provider valued at $779,000 after acquiring 12 additional shares during the period. Financial Management Network Inc. increased its stake in Alphabet shares by 10.8% in Q1. Financial Management Network Inc. now owns 957 shares of the information services provider valued at $2,736,000 after acquiring 93 additional shares during the period. Chicago Capital LLC increased its stake in Alphabet shares by 1.6% in Q1. Chicago Capital LLC now owns 30,377 shares of the information services provider valued at $84,489,000 after acquiring an additional 483 shares during the period. Zhang Financial LLC increased its stake in Alphabet shares by 11.6% in Q1. Zhang Financial LLC now owns 1,351 shares of the information services provider valued at $3,757,000 after acquiring an additional 140 shares during the period. Finally, apricus Wealth LLC increased its stake in Alphabet shares by 1.9% in Q1. Apricus Wealth LLC now owns 317 shares of the information services provider valued at $812,000 after acquiring 6 additional shares during the period. 41.70% of the shares are currently held by institutional investors and hedge funds.
GOOGL has been the subject of a number of recent analyst reports. Monness Crespi & Hardt lowered their price target on Alphabet shares to $2,900.00 in a report on Tuesday. JMP Securities lowered its price target on Alphabet shares from $3,300.00 to $3,200.00 and set a “market outperformance” rating for the company in a Thursday, June 30 report. Truist Financial lowered its price target on Alphabet shares from $3,600.00 to $3,500.00 and set a “buy” rating for the company in a Wednesday, April 27 report. Guggenheim lowered its price target on Alphabet shares from $3,350.00 to $3,000.00 in a Wednesday, April 27 report. Finally, Morgan Stanley lowered its price target on Alphabet shares from $3,270.00 to $3,000.00 in a Wednesday, June 1 report. One research analyst gave the stock a hold rating, thirty-four gave the company a buy rating and one gave the company a strong buy rating. According to MarketBeat, the stock currently has an average buy rating and a consensus target price of $3,251.65.
GOOGL Stock opened at $2,387.07 on Friday. Alphabet Inc. has a 52-week low of $2,037.69 and a 52-week high of $3,030.93. The company has a market cap of $1.57 trillion, a price-to-earnings ratio of 21.59, a growth price-to-earnings ratio of 1.12, and a beta of 1.10. The company’s 50-day moving average is $2,256.40 and its two-hundred-day moving average is $2,545.69. The company has a current ratio of 2.87, a quick ratio of 2.85 and a debt ratio of 0.06.
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 issued shares will be payable to shareholders after the closing bell on Friday July 15.
Alphabet (NASDAQ: GOOGL – Get a rating) last released its quarterly results on Tuesday, April 26. The information services provider reported EPS of $24.62 for the quarter, missing analyst consensus estimates of $25.70 per ($1.08). Alphabet had a return on equity of 30.18% and a net margin of 27.57%. The company posted revenue of $56.02 billion for the quarter, versus a consensus estimate of $56.17 billion. In the same quarter last year, the company posted earnings per share of $26.29. On average, stock research analysts expect Alphabet Inc. to post earnings per share of 110.62 for the current year.
In other news, please Philip Schindler sold 3,834 shares of Alphabet in a trade that took place on Tuesday, July 5. The shares were sold at an average price of $2,182.62, for a total value of $8,368,165.08. As a result of the transaction, the senior vice president now owns 12,676 shares of the company, valued at approximately $27,666,891.12. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC website. Also, please Prabhakar Raghavan sold 490 shares of Alphabet in a trade that took place on Tuesday, May 3. The stock was sold at an average price of $2,335.30, for a total transaction of $1,144,297.00. Following the completion of the transaction, the Senior Vice President now directly owns 497 shares of the company, valued at approximately $1,160,644.10. Disclosure of this sale can be found here. Insiders sold a total of 555,362 shares of the company worth $32,765,727 in the past 90 days. 11.44% of the shares are held by insiders.
Alphabet Company Profile (Get a rating)
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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