Flagship Harbor Advisors LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 2.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,283 shares of the information services provider’s stock after purchasing an additional 917 shares during the period. Flagship Harbor Advisors LLC’s holdings in Alphabet were worth $5,301,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. DC Investments Management LLC acquired a new position in Alphabet in the first quarter valued at about $114,000. Bridgefront Capital LLC bought a new position in shares of Alphabet in the first quarter worth about $225,000. Worth Asset Management LLC bought a new position in shares of Alphabet in the first quarter worth about $206,000. Eudaimonia Advisors LLC raised its stake in shares of Alphabet by 15.1% in the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after acquiring an additional 13 shares during the last quarter. Finally, Aspire Capital Advisors LLC bought a new stake in shares of Alphabet during the first quarter worth approximately $281,000. 35.08% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Alphabet
In other news, SVP Prabhakar Raghavan sold 16,083 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $120.31, for a total value of $1,934,945.73. Following the completion of the sale, the senior vice president now directly owns 127,028 shares of the company’s stock, valued at approximately $15,282,738.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Amie Thuener O’toole sold 3,749 shares of the company’s stock in a transaction that occurred 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 approximately $3,484,407.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 16,083 shares of the stock in a transaction 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 sale, the senior vice president now owns 127,028 shares in the company, valued at approximately $15,282,738.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 96,092 shares of company stock valued at $12,221,941. 0.88% of the stock is currently owned by corporate insiders.
Alphabet Price Performance
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly earnings data on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate 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 in the previous year, the business earned $1.21 EPS. Equities analysts expect that Alphabet Inc. will post 5.68 EPS for the current year.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and set a $140.00 price target on shares of Alphabet in a research note on Wednesday, September 13th. Tigress Financial upped their target price on shares of Alphabet from $160.00 to $172.00 and gave the company a “strong-buy” rating in a research note on Friday, July 14th. Credit Suisse Group upped their target price on shares of Alphabet from $135.00 to $150.00 and gave the company an “outperform” rating in a research note on Monday, July 17th. JMP Securities reaffirmed a “market outperform” rating and issued a $138.00 target price on shares of Alphabet in a research note on Wednesday, August 30th. Finally, Robert W. Baird upped their target price on shares of Alphabet from $123.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, July 21st. Four investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average 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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