BloombergSen Inc. decreased its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 1.5% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 634,380 shares of the information services provider’s stock after selling 9,379 shares during the period. Alphabet comprises 4.5% of BloombergSen Inc.’s portfolio, making the stock its 11th biggest position. BloombergSen Inc.’s holdings in Alphabet were worth $65,976,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the company. DC Investments Management LLC bought a new position in Alphabet in the first quarter valued at $115,000. Guardian Wealth Management Inc. acquired a new stake in shares of Alphabet in the first quarter valued at about $184,000. Turim 21 Investimentos Ltda. raised its holdings in Alphabet by 10.8% during the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after acquiring an additional 8 shares in the last quarter. qPULA Trading Management LP acquired a new position in Alphabet during the first quarter valued at approximately $279,000. Finally, Wayfinding Financial LLC acquired a new position in Alphabet during the fourth quarter valued at approximately $294,000. Institutional investors and hedge funds own 27.13% of the company’s stock.
Analysts Set New Price Targets
Several research firms have issued reports on GOOG. Oppenheimer upped their price target on shares of Alphabet from $145.00 to $160.00 in a research report on Wednesday, July 26th. Susquehanna raised their price objective on Alphabet from $120.00 to $150.00 in a research report on Wednesday, July 26th. Robert W. Baird boosted their target price on Alphabet from $123.00 to $140.00 in a report on Wednesday, July 26th. Finally, Wedbush began coverage on Alphabet in a report on Monday, August 21st. They set an “outperform” rating for the company. Thirteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Alphabet currently has an average rating of “Buy” and an average price target of $130.94.
Insiders Place Their Bets
In other news, SVP Prabhakar Raghavan sold 16,083 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the completion of the sale, the senior vice president now directly owns 127,028 shares in the company, valued at approximately $15,282,738.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Prabhakar Raghavan sold 16,083 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $120.31, for a total value of $1,934,945.73. Following the completion of the transaction, the senior vice president now directly owns 127,028 shares in the company, valued at approximately $15,282,738.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $137.30, for a total transaction of $27,460.00. Following the sale, the director now owns 7,584 shares in the company, valued at approximately $1,041,283.20. The disclosure for this sale can be found here. Insiders have sold a total of 168,989 shares of company stock worth $13,314,006 in the last 90 days. Company insiders own 12.99% of the company’s stock.
Alphabet Trading Up 0.4 %
GOOG stock opened at $137.74 on Tuesday. Alphabet Inc. has a 52 week low of $83.45 and a 52 week high of $138.58. The company has a market capitalization of $1.74 trillion, a PE ratio of 29.18, a price-to-earnings-growth ratio of 1.57 and a beta of 1.06. The company’s 50-day simple moving average is $128.89 and its 200 day simple moving average is $117.16. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.14 and a current ratio of 2.17.
Alphabet (NASDAQ:GOOG – Get Free Report) last announced its earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $72.85 billion. During the same quarter in the prior year, the business posted $1.21 EPS. The business’s revenue was up 7.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alphabet Inc. will post 5.68 earnings per share for the current year.
Alphabet Company Profile
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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