Monarch Capital Management Inc. increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1.3% during the 1st quarter, according to the company in its latest 13F filing with the Securities and Exchange Commission. The company held 1,898 shares of the information services provider after purchasing an additional 25 shares during the period. Alphabet represents 1.4% of Monarch Capital Management Inc.’s portfolio, making the stock its 29th-largest position. Monarch Capital Management Inc.’s holdings in Alphabet were worth $5,301,000 when it last filed with the Securities and Exchange Commission.
Other institutional investors have also recently increased or reduced their stake in the company. Minot Wealth Management LLC increased its stake in Alphabet by 3.9% in the 1st quarter. Minot Wealth Management LLC now owns 721 shares of the information services provider valued at $2,014,000 after purchasing 27 additional shares during the period. Thomasville National Bank increased its stake in Alphabet by 2.0% during the 1st quarter. Thomasville National Bank now owns 13,586 shares of the information services provider valued at $37,946,000 after purchasing an additional 261 shares during the period. InTrack Investment Management Inc increased its stake in Alphabet by 23.7% during the 1st quarter. InTrack Investment Management Inc now owns 919 shares of the information services provider valued at $2,568,000 after purchasing an additional 176 shares during the period. C2C Wealth Management LLC acquired a new position in Alphabet during the 4th quarter worth approximately $1,438,000. Finally, Schrum Private Wealth Management LLC acquired a new position in Alphabet during Q4 valued at approximately $387,000. 31.20% of the shares are currently held by hedge funds and other institutional investors.
In other Alphabet news, SVP Prabhakar Raghavan sold 1,109 shares of Alphabet in a trade that took place on Friday, July 1. The shares were sold at an average price of $2,166.74, for a total value of $2,402,914.66. Following the completion of the sale, the Senior Vice President now directly owns 1,608 shares of the company, valued at $3,484,117.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. Additionally, CAO Amie Thuener O’toole sold 42 shares of Alphabet in a trade that took place on Friday, July 1. The shares were sold at an average price of $2,166.74, for a total transaction of $91,003.08. Following the completion of the sale, the accounting director now owns 1,192 shares of the company, valued at $2,582,754.08. The disclosure of this sale can be found here. Insiders sold 552,804 shares of the company valued at $27,991,403 during the last quarter. Company insiders hold 12.99% of the company’s stock.
Several stock analysts have recently published reports on GOOG stocks. JPMorgan Chase & Co. lowered its price target on Alphabet shares from $3,450.00 to $3,200.00 in a Wednesday, April 27 research note. Oppenheimer reaffirmed an “outperform” rating and posted a price target of $3,290.00 on Alphabet shares in a research note on Thursday, April 28. Wedbush reaffirmed an “outperforming” rating on Alphabet shares in a Wednesday, April 20 research note. Deutsche Bank Aktiengesellschaft lowered its price target on Alphabet shares from $3,150.00 to $2,900.00 in a Wednesday, April 27 research note. Finally, Raymond James lowered his price target on Alphabet shares from $3,630.00 to $3,180.00 in a Wednesday, April 27 research note. Twenty-nine analysts rated the stock with a buy rating. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $3,315.38.
GOOG stock opened at $2,181.62 on Friday. The company has a debt ratio of 0.06, a quick ratio of 2.85 and a current ratio of 2.87. The stock has a market capitalization of $1.44 trillion, a P/E ratio of 19.73, a P/E/G ratio of 1.16 and a beta of 1.13. The company has a 50-day simple moving average of $2,270.13 and a 200-day simple moving average of $2,568.66. Alphabet Inc. has a 52-week low of $2,044.16 and a 52-week high of $3,042.00.
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 created shares will be distributed to shareholders after market close on Friday July 15.
Alphabet (NASDAQ:GOOG – Get Rating) last released its results on Tuesday, April 26. The information services provider reported earnings per share (EPS) of $24.62 for the quarter, missing analyst consensus estimates of $25.70 per ($1.08). The company posted revenue of $56.02 billion in the quarter, versus analyst estimates of $56.17 billion. Alphabet had a net margin of 27.57% and a return on equity of 30.18%. In the same quarter last year, the company earned earnings per share of $26.29. Sell-side analysts expect Alphabet Inc. to post EPS of 110.83 for the current year.
Alphabet Company Profile (Get an assessment)
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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