Hemington Wealth Management boosted its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 43.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 317 shares of the information services provider’s stock after purchasing an additional 96 shares during the quarter. Hemington Wealth Management’s holdings in Alphabet were worth $882,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Morling Financial Advisors LLC acquired a new position in shares of Alphabet during the 4th quarter worth $29,000. West Bancorporation Inc. acquired a new position in Alphabet in the 4th quarter worth about $29,000. Wealthgate Family Office LLC acquired a new position in Alphabet in the 4th quarter worth about $32,000. NS Partners Ltd acquired a new position in Alphabet in the 4th quarter worth about $41,000. Finally, AHL Investment Management Inc. acquired a new position in Alphabet in the 4th quarter worth about $46,000. 41.70% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other news, major shareholder 2021 Gp L.L.C. Gv purchased 255,647 shares of the company’s stock in a transaction on Tuesday, May 10th. The stock was purchased at an average price of $34.65 per share, with a total value of $8,858,168.55. Following the completion of the purchase, the insider now directly owns 479,695 shares in the company, valued at approximately $16,621,431.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, major shareholder 2021 Gp L.L.C. Gv acquired 255,647 shares of the firm’s stock in a transaction dated Tuesday, May 10th. The shares were purchased at an average price of $34.65 per share, for a total transaction of $8,858,168.55. Following the completion of the acquisition, the insider now owns 479,695 shares in the company, valued at $16,621,431.75. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 31 shares of Alphabet stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $2,280.98, for a total value of $70,710.38. Following the completion of the transaction, the director now owns 265 shares in the company, valued at approximately $604,459.70. The disclosure for this sale can be found here. Insiders sold a total of 42,383 shares of company stock valued at $15,761,666 over the last 90 days. Insiders own 11.44% of the company’s stock.
Analyst Ratings Changes
Several brokerages have recently weighed in on GOOGL. MKM Partners decreased their price target on Alphabet from $165.00 to $140.00 and set a “buy” rating for the company in a research note on Monday, July 18th. Piper Sandler cut their target price on Alphabet from $139.00 to $135.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 27th. UBS Group cut their target price on Alphabet from $133.00 to $132.00 and set a “buy” rating on the stock in a research report on Wednesday, July 27th. Itau BBA Securities began coverage on Alphabet in a research report on Tuesday, July 26th. They set a “market perform” rating and a $113.00 target price on the stock. Finally, Canaccord Genuity Group cut their price target on Alphabet from $175.00 to $165.00 and set a “buy” rating on the stock in a report on Wednesday, April 27th. Five research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $147.36.
Alphabet Price Performance
NASDAQ:GOOGL opened at $117.47 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.78 and a current ratio of 2.81. The stock has a fifty day moving average of $155.27 and a 200 day moving average of $137.96. Alphabet Inc. has a 52-week low of $101.88 and a 52-week high of $151.55. The firm has a market capitalization of $1.55 trillion, a price-to-earnings ratio of 21.85, a P/E/G ratio of 1.91 and a beta of 1.08.
Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.11). Alphabet had a return on equity of 28.65% and a net margin of 25.89%. During the same period in the prior year, the business posted $27.26 EPS. On average, research analysts expect that Alphabet Inc. will post 5.22 EPS for the current fiscal year.
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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