Capital Investment Advisory Services LLC increased its stake in shares of Alphabet Inc. (NASDAQ: GOOGL – Get a rating) by 15.3% in the first quarter, HoldingsChannel reports. The institutional investor held 1,034 shares of the information services provider after purchasing an additional 137 shares during the quarter. Capital Investment Advisory Services LLC’s holdings in Alphabet were worth $2,876,000 at the end of the most recent reporting period.
Other large investors have also recently increased or reduced their stake in the company. Morling Financial Advisors LLC purchased a new stake in Alphabet during the fourth quarter worth approximately $29,000. West Bancorporation Inc. acquired a new position in Alphabet in Q4 worth approximately $29,000. Wealthgate Family Office LLC acquired a new position in Alphabet in Q4 worth approximately $32,000. NS Partners Ltd acquired a new position in Alphabet in Q4 worth approximately $41,000. Finally, AHL Investment Management Inc. acquired a new position in Alphabet in Q4 worth approximately $46,000. 41.70% of the shares are currently held by institutional investors.
Changes to analyst ratings
A number of stock analysts have recently commented on the stock. Citigroup lowered its price target on Alphabet shares from $145.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday. Exane BNP Paribas downgraded Alphabet’s shares from an “outperforming” rating to a “neutral” rating in a Wednesday July 20 research report. Moffett Nathanson cut his price target on Alphabet shares to $132.50 in a Thursday, May 26 research report. Bank of America cut its price target on Alphabet shares from $132.00 to $125.00 and set a “buy” rating for the company in a research report Wednesday. Finally, Morgan Stanley raised its price target on Alphabet shares from $140.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday. Five analysts gave the stock a hold rating, thirty-three gave the stock a buy rating and one gave the stock a strong buy rating. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $147.29.
Insider buying and selling
In related news, please Prabhakar Raghavan sold 490 shares of the company in a transaction that took place on Tuesday, May 3. The shares were sold at an average price of $2,335.30, for a total transaction of $1,144,297.00. Following the completion of the transaction, the Senior Vice President now owns 497 shares of the company, valued at $1,160,644.10. The sale was disclosed in a filing with the SEC, accessible via the SEC website. In other news, major shareholder 2021 Gp LLC Gv acquired 255,647 shares of the company in a transaction that took place on Tuesday, May 10. 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 of the company, valued at $16,621,431.75. The transaction was disclosed in an SEC filing, available at this hyperlink. Also, please Prabhakar Raghavan sold 490 shares of the company in a transaction that took place on Tuesday, May 3. The shares were sold at an average price of $2,335.30, for a total transaction of $1,144,297.00. Following the transaction, the senior vice president now owns 497 shares of the company, valued at approximately $1,160,644.10. Disclosure of this sale can be found here. Insiders sold a total of 7,269 shares of the company valued at $12,792,226 in the past ninety days. Insiders hold 11.44% of the company’s shares.
Alphabet trades up 1.8%
GOOGL opened at $116.32 on Friday. The company has a debt ratio of 0.06, a current ratio of 2.87 and a quick ratio of 2.85. The company has a market cap of $1.53 trillion, a price-to-earnings ratio of 21.04, a growth price-to-earnings ratio of 1.12, and a beta of 1.10. The company has a 50-day simple moving average of $154.46 and a 200-day simple moving average of $138.72. Alphabet Inc. has a fifty-two week low of $101.88 and a fifty-two week high of $151.55.
Alphabet (NASDAQ: GOOGL – Get a rating) last released its quarterly results on Tuesday, July 26. The information services provider reported earnings per share of $1.21 for the quarter, missing analyst consensus estimates of $1.32 per ($0.11). Alphabet had a return on equity of 30.18% and a net margin of 27.57%. During the same quarter of the previous year, the company achieved EPS of $27.26. On average, sell-side analysts expect Alphabet Inc. to post earnings per share of 5.37 for the current year.
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.
Get news and reviews for Alphabet Daily – Enter your email address below to receive a concise daily summary of breaking news and analyst ratings for Alphabet and related companies with MarketBeat.com’s free daily email newsletter.