Sugarloaf Wealth Management LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 9.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 805 shares of the information services provider’s stock after acquiring an additional 67 shares during the period. Sugarloaf Wealth Management LLC’s holdings in Alphabet were worth $2,256,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Morling Financial Advisors LLC acquired a new position in shares of Alphabet during the 4th quarter valued at about $29,000. West Bancorporation Inc. acquired a new stake in Alphabet in the 4th quarter valued at approximately $29,000. Wealthgate Family Office LLC acquired a new stake in Alphabet in the 4th quarter valued at approximately $32,000. NS Partners Ltd acquired a new stake in Alphabet in the 4th quarter valued at approximately $41,000. Finally, Schubert & Co acquired a new stake in Alphabet in the 4th quarter valued at approximately $43,000. 41.70% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ GOOGL opened at $2,227.07 on Thursday. The stock has a fifty day moving average of $2,250.35 and a 200-day moving average of $2,531.92. The stock has a market capitalization of $1.47 trillion, a P/E ratio of 20.14, a price-to-earnings-growth ratio of 1.17 and a beta of 1.10. Alphabet Inc. has a 52 week low of $2,037.69 and a 52 week high of $3,030.93. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.85 and a current ratio of 2.87.
Shares of Alphabet are scheduled to split on Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly issued shares will be issued to shareholders after the market closes on Friday, July 15th.
Alphabet (NASDAQ:GOOGL – Get Rating) last released its earnings results on Tuesday, April 26th. The information services provider reported $24.62 EPS for the quarter, missing the consensus estimate of $25.70 by ($1.08). The firm had revenue of $56.02 billion during the quarter, compared to analyst estimates 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 business posted $26.29 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 110.62 earnings per share for the current fiscal year.
In related news, Director John L. Hennessy sold 75 shares of Alphabet stock in a transaction on Monday, July 11th. The stock was sold at an average price of $2,337.13, for a total transaction of $175,284.75. Following the completion of the sale, the director now directly owns 233 shares of the company’s stock, valued at $544,551.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Lawrence Page sold 100 shares of Alphabet stock in a transaction on Monday, April 18th. The stock was sold at an average price of $2,574.16, for a total value of $257,416.00. Following the sale, the director now directly owns 19,527,502 shares of the company’s stock, valued at $50,266,914,548.32. The disclosure for this sale can be found here. Insiders sold a total of 5,839 shares of company stock valued at $12,873,739 over the last three months. Insiders own 11.44% of the company’s stock.
A number of research firms have issued reports on GOOGL. Mizuho lowered their target price on Alphabet from $3,600.00 to $3,500.00 and set a “buy” rating on the stock in a report on Wednesday, April 27th. Wells Fargo & Company lowered their target price on Alphabet from $3,600.00 to $3,400.00 in a report on Wednesday, April 27th. Stifel Nicolaus lowered their target price on Alphabet from $3,500.00 to $3,100.00 and set a “buy” rating on the stock in a report on Wednesday, April 27th. Canaccord Genuity Group reduced their price objective on Alphabet from $3,500.00 to $3,300.00 and set a “buy” rating for the company in a research report on Wednesday, April 27th. Finally, Jefferies Financial Group reduced their price objective on Alphabet from $3,400.00 to $3,100.00 in a research report on Tuesday, May 24th. One equities research analyst has rated the stock with a hold rating, thirty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $3,244.22.
Alphabet Profile (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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