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Mascoma Wealth Management LLC Raises Position in Alphabet Inc. (NASDAQ:GOOGL)

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Mascoma Wealth Management LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 10.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 221 shares of the information services provider’s stock after buying an additional 21 shares during the quarter. Mascoma Wealth Management LLC’s holdings in Alphabet were worth $615,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Bay Rivers Group lifted its stake in Alphabet by 5.9% in the 1st quarter. Bay Rivers Group now owns 1,418 shares of the information services provider’s stock worth $3,944,000 after purchasing an additional 79 shares in the last quarter. Pinnacle Wealth Management Group Inc. lifted its stake in Alphabet by 2.6% in the 1st quarter. Pinnacle Wealth Management Group Inc. now owns 390 shares of the information services provider’s stock worth $1,085,000 after purchasing an additional 10 shares in the last quarter. Regatta Capital Group LLC purchased a new position in Alphabet in the 4th quarter worth approximately $9,409,000. White Knight Strategic Wealth Advisors LLC lifted its stake in Alphabet by 2.3% in the 1st quarter. White Knight Strategic Wealth Advisors LLC now owns 1,084 shares of the information services provider’s stock worth $3,015,000 after purchasing an additional 24 shares in the last quarter. Finally, Lehman & Derafelo Financial Resources LLC lifted its stake in Alphabet by 14.6% in the 1st quarter. Lehman & Derafelo Financial Resources LLC now owns 275 shares of the information services provider’s stock worth $765,000 after purchasing an additional 35 shares in the last quarter. 41.70% of the stock is currently owned by hedge funds and other institutional investors.

In related news, major shareholder 2021 Gp L.L.C. Gv purchased 255,647 shares of Alphabet stock in a transaction that occurred on Tuesday, May 10th. The stock was purchased at an average cost of $34.65 per share, with a total value of $8,858,168.55. Following the completion of the transaction, the insider now directly owns 479,695 shares in the company, valued at $16,621,431.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 42 shares of the business’s stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $2,335.30, for a total transaction of $98,082.60. Following the completion of the sale, the chief accounting officer now directly owns 1,170 shares of the company’s stock, valued at $2,732,301. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,839 shares of company stock valued at $12,873,739. Corporate insiders own 11.44% of the company’s stock.

A number of research analysts have weighed in on the stock. JMP Securities decreased their target price on shares of Alphabet from $3,300.00 to $3,200.00 and set a “market outperform” rating on the stock in a research note on Thursday, June 30th. BMO Capital Markets decreased their target price on shares of Alphabet from $3,300.00 to $3,000.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 27th. Stifel Nicolaus cut their price target on shares of Alphabet from $3,500.00 to $3,100.00 and set a “buy” rating for the company in a report on Wednesday, April 27th. Wells Fargo & Company cut their price target on shares of Alphabet from $3,600.00 to $3,400.00 in a report on Wednesday, April 27th. Finally, Citigroup cut their price target on shares of Alphabet from $3,500.00 to $3,175.00 in a report on Wednesday, April 27th. One research analyst has rated the stock with a hold rating, thirty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has a consensus rating of “Buy” and an average target price of $3,251.65.

Alphabet stock opened at $2,280.41 on Wednesday. The stock has a market cap of $1.50 trillion, a P/E ratio of 20.63, a price-to-earnings-growth ratio of 1.17 and a beta of 1.10. The company has a fifty day simple moving average of $2,254.71 and a 200-day simple moving average of $2,534.05. Alphabet Inc. has a 12-month low of $2,037.69 and a 12-month high of $3,030.93. The company has a current ratio of 2.87, a quick ratio of 2.85 and a debt-to-equity ratio of 0.06.

Alphabet’s stock is set to split on Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly minted shares will be issued to shareholders after the closing bell on Friday, July 15th.

Alphabet (NASDAQ:GOOGLGet Rating) last released its quarterly earnings data on Tuesday, April 26th. The information services provider reported $24.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $25.70 by ($1.08). The firm had revenue of $56.02 billion for the quarter, compared to analysts’ expectations of $56.17 billion. Alphabet had a return on equity of 30.18% and a net margin of 27.57%. During the same period last year, the firm posted $26.29 earnings per share. As a group, sell-side analysts forecast that Alphabet Inc. will post 110.62 earnings per share for the current fiscal year.

Alphabet Profile (Get Rating)

Alphabet Inc provides 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 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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Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGLGet Rating).

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