Bard Financial Services Inc. reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,340 shares of the information services provider’s stock after selling 1,340 shares during the quarter. Bard Financial Services Inc.’s holdings in Alphabet were worth $8,539,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Live Oak Investment Partners purchased a new stake in Alphabet in the fourth quarter valued at about $26,000. Sanctuary Wealth Management L.L.C. purchased a new stake in Alphabet in the fourth quarter valued at about $34,000. Turim 21 Investimentos Ltda. purchased a new stake in Alphabet in the third quarter valued at about $38,000. IAG Wealth Partners LLC raised its stake in Alphabet by 100.0% in the first quarter. IAG Wealth Partners LLC now owns 400 shares of the information services provider’s stock valued at $41,000 after buying an additional 200 shares during the last quarter. Finally, AM Squared Ltd purchased a new stake in Alphabet in the fourth quarter valued at about $44,000. 35.08% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, CAO Amie Thuener O’toole sold 3,749 shares of Alphabet stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $136.28, for a total transaction of $510,913.72. Following the transaction, the chief accounting officer now owns 25,568 shares in the company, valued at $3,484,407.04. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 3,749 shares of Alphabet stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $136.28, for a total value of $510,913.72. Following the sale, the chief accounting officer now owns 25,568 shares in the company, valued at $3,484,407.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction on Monday, September 11th. The shares were sold at an average price of $137.30, for a total value of $27,460.00. Following the completion of 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. Over the last 90 days, insiders have sold 96,092 shares of company stock worth $12,221,941. 0.88% of the stock is owned by corporate insiders.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings data on Tuesday, July 25th. The information services provider reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.12. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. The firm had revenue of $74.60 billion for the quarter, compared to the consensus estimate of $60.24 billion. During the same quarter last year, the business posted $1.21 earnings per share. On average, research analysts predict that Alphabet Inc. will post 5.68 EPS for the current year.
Analysts Set New Price Targets
Several research analysts have recently issued reports on the company. Credit Suisse Group raised their price objective on Alphabet from $135.00 to $150.00 and gave the stock an “outperform” rating in a research note on Monday, July 17th. Susquehanna restated a “positive” rating and issued a $150.00 price objective on shares of Alphabet in a research note on Thursday, August 31st. Stifel Nicolaus raised their price objective on Alphabet from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. UBS Group lowered Alphabet from a “buy” rating to a “neutral” rating and raised their target price for the stock from $123.00 to $132.00 in a report on Monday, June 26th. Finally, Rosenblatt Securities raised their target price on Alphabet from $132.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, July 26th. Four investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $143.89.
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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