Global Strategic Investment Solutions LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 2.8% during the 1st quarter, HoldingsChannel reports. The firm owned 471 shares of the information services provider’s stock after purchasing an additional 13 shares during the quarter. Global Strategic Investment Solutions LLC’s holdings in Alphabet were worth $1,310,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently made changes to their positions in GOOGL. Centiva Capital LP bought a new position in Alphabet during the third quarter worth $1,773,000. Amplius Wealth Advisors LLC bought a new position in Alphabet during the fourth quarter worth $1,422,000. Pure Financial Advisors LLC increased its position in Alphabet by 2.2% during the fourth quarter. Pure Financial Advisors LLC now owns 325 shares of the information services provider’s stock worth $942,000 after acquiring an additional 7 shares during the period. Harbour Capital Advisors LLC increased its position in Alphabet by 2.1% during the fourth quarter. Harbour Capital Advisors LLC now owns 1,294 shares of the information services provider’s stock worth $3,749,000 after acquiring an additional 27 shares during the period. Finally, Cottage Street Advisors LLC increased its position in Alphabet by 0.9% during the period. the fourth quarter. Cottage Street Advisors LLC now owns 1,015 shares of the information s ervices provider’s stock worth $2,940,000 after acquiring an additional 9 shares during the period. Institutional investors own 41.70% of the company’s stock.
Shares of GOOGL stock opened at $2,174.75 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.87 and a quick ratio of 2.85. The stock has a market cap of $1.43 trillion, a PE ratio of 19.67 , a price-to-earnings-growth ratio of 1.15 and a beta of 1.13. The stock has a 50-day moving average of $2,261.98 and a 200-day moving average of $2,563.01. Alphabet Inc. has a one year low of $2,037.69 and a one year high of $3,030.93.
Alphabet shares are scheduled to split on the morning of Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly issued shares will be payable to shareholders after the market closes on Friday, July 15th.
Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings results on Tuesday, April 26th. The information services provider reported $24.62 EPS for the quarter, missing analysts’ consensus estimates of $25.70 by ($1.08). The company had revenue of $56.02 billion during the quarter, compared to the consensus estimate of $56.17 billion. Alphabet had a net margin of 27.57% and a return on equity of 30.18%. During the same period last year, the company earned $26.29 earnings per share. As a group, Research analysts anticipate that Alphabet Inc. will post 110.83 earnings per share for the current year.
In related news, CAO Amie Thuener O’toole sold 42 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total value of $91,003.08. Following the completion of the transaction, the chief accounting officer now directly owns 1,192 shares in the company, valued at approximately $2,582,754.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder 2016 Gp LLC Gv sold 544,249 shares of the business’s stock in a transaction that occurred on Monday, April 11th. The shares were sold at an average price of $11.16, for a total value of $6,073,818.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 551,528 shares of company stock valued at $24,397,562. 11.44% of the stock is currently owned by company insiders.
A number of brokerages recently issued reports on GOOGL. Stifel Nicolaus dropped their target price on shares of Alphabet from $3,500.00 to $3,100.00 and set a “buy” rating on the stock in a research report on Wednesday, April 27th. MKM Partners decreased their price target on shares of Alphabet from $3,375.00 to $3,300.00 and set a “buy” rating on the stock in a research note on Thursday, April 14th. Moffett Nathanson decreased their price target on shares of Alphabet to $2,650.00 in a research note on Thursday, May 26th. Rosenblatt Securities started coverage on shares of Alphabet in a research note on Tuesday, April 19th. They set a “buy” rating and a $4,183.00 price target on the stock. Finally, Mizuho decreased their price target on shares of Alphabet from $3,600.00 to $3,500.00 and set a “buy” rating on the stock in a research note on Wednesday, April 27th. One research analyst has rated the stock with a hold rating, thirty-four have assigned a buy rating and one has issued a str ong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $3,277.59.
About Alphabet (Get Rating)
Alphabet Inc provides 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 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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