Affiance Financial LLC buys 13 shares of Alphabet Inc. (NASDAQ:GOOGL)
Affiance Financial LLC increased its stake in shares of Alphabet Inc. (NASDAQ: GOOGL – Get a rating) by 3.3% in the 1st quarter, HoldingsChannel reports. The institutional investor held 410 shares of the information services provider after buying 13 additional shares during the quarter. Affiance Financial LLC’s holdings in Alphabet were worth $1,140,000 at the end of the most recent reporting period.
Other institutional investors have also recently increased or reduced their stake in the company. Bowling Portfolio Management LLC increased its holdings of Alphabet shares 1.3% in the first quarter. Bowling Portfolio Management LLC now owns 6,761 shares of the information services provider valued at $18,805,000 after buying 90 additional shares last quarter. Icapital Wealth LLC increased its holdings of Alphabet shares by 67.0% in the first quarter. Icapital Wealth LLC now owns 436 shares of the information services provider valued at $1,185,000 after buying an additional 175 shares last quarter. Beese Fulmer Investment Management Inc. increased its holdings of Alphabet shares 0.9% in the first quarter. Beese Fulmer Investment Management Inc. now owns 6,299 shares of the information services provider valued at $17,520,000 after buying 57 additional shares last quarter. Brookstone Capital Management increased its holdings of Alphabet shares by 0.5% in the first quarter. Brookstone Capital Management now owns 4,699 shares of the information services provider valued at $12,107,000 after buying 23 more shares last quarter. Finally, Fortune 45 LLC increased its holdings of Alphabet shares by 10.2% in the first quarter. Fortune 45 LLC now owns 248 shares of the information services provider valued at $689,000 after buying 23 more shares in the last quarter. Hedge funds and other institutional investors own 41.70% of the company’s shares.
GOOGL has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered its price target on Alphabet shares from $3,200.00 to $2,800.00 and set an “overweight” rating for the company in a research note on Wednesday. JMP Securities cut its price target on Alphabet shares from $3,300.00 to $3,200.00 and set a “market outperformance” rating on the stock in a report released Thursday. Truist Financial cut its price target on Alphabet shares from $3,600.00 to $3,500.00 and set a “buy” rating on the stock in a Wednesday, April 27 report. BMO Capital Markets cut its price target on Alphabet shares from $3,300.00 to $3,000.00 and set an “outperform” rating on the stock in a Wednesday, April 27 report. Finally, MKM Partners reduced its price target on Alphabet shares from $3,375.00 to $3,300.00 and set a “buy” rating on the stock in a Thursday, April 14 report. One research analyst rated the stock with a hold rating, thirty-four gave the company a buy rating and one gave the company a strong buy rating. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $3,277.59.
In related news, CAD Amie Thuener O’toole sold 42 shares in a trade that took place on Tuesday, May 3. The shares were sold at an average price of $2,335.30, for a total value of $98,082.60. Following the transaction, the chief accountant now owns 1,170 shares of the company, valued at approximately $2,732,301. The sale was disclosed in a filing with the SEC, which is available via this link. Additionally, 2016 major shareholder Gp LLC Gv sold 544,249 shares in a transaction that took place on Monday, April 11. The stock was sold at an average price of $11.16, for a total transaction of $6,073,818.84. Disclosure of this sale can be found here. Insiders sold a total of 551,528 shares of the company worth $24,397,562 in the past ninety days. 11.44% of the shares are currently held by insiders.
Shares of Alphabetical stock opened at $2,174.75 on Friday. The company has a market capitalization of $1.43 trillion, a P/E ratio of 19.67, a PEG ratio of 1.15 and a beta of 1.13. The company has a quick ratio of 2.85, a current ratio of 2.87 and a leverage ratio of 0.06. The company has a 50-day moving average price of $2,261.98 and a 200-day moving average price of $2,563.01. Alphabet Inc. has a 52-week low of $2,037.69 and a 52-week high of $3,030.93.
Alphabet shares are set to split before the market opens on Monday, July 18. The 20-1 split was announced on Tuesday, February 1. The newly issued shares will be payable to shareholders after market close on Friday July 15.
Alphabet (NASDAQ: GOOGL – Get a rating) last reported quarterly earnings data on Tuesday, April 26. The information services provider reported EPS of $24.62 for the quarter, missing the consensus estimate of $25.70 per ($1.08). The company posted revenue of $56.02 billion in the quarter, compared to $56.17 billion expected by analysts. Alphabet had a net margin of 27.57% and a return on equity of 30.18%. In the same period a year earlier, the company had earned earnings per share of $26.29. As a group, research analysts expect Alphabet Inc. to post earnings per share of 110.83 for the current fiscal year.
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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