Van Strum & Towne Inc. grew its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 117.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,398 shares of the information services provider's stock after buying an additional 1,838 shares during the period. Van Strum & Towne Inc.'s holdings in Alphabet were worth $531,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Principia Wealth Advisory LLC boosted its stake in Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after purchasing an additional 85 shares during the period. MorganRosel Wealth Management LLC acquired a new stake in Alphabet during the 1st quarter worth $26,000. LSV Asset Management acquired a new stake in shares of Alphabet in the 4th quarter worth $27,000. Goodman Advisory Group LLC acquired a new stake in shares of Alphabet in the 1st quarter worth $32,000. Finally, WealthTrak Capital Management LLC acquired a new stake in shares of Alphabet in the 4th quarter worth $38,000. Institutional investors and hedge funds own 27.26% of the company's stock.
Insiders Place Their Bets
In other Alphabet news, Director John L. Hennessy sold 400 shares of the firm's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $181.98, for a total transaction of $72,792.00. Following the sale, the director directly owned 6,013 shares of the company's stock, valued at $1,094,245.74. This trade represents a 6.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the sale, the director directly owned 243,400 shares in the company, valued at $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 249,409 shares of company stock valued at $43,523,710 in the last ninety days. Insiders own 12.99% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the stock. Westpark Capital restated a "buy" rating and issued a $210.00 target price on shares of Alphabet in a research note on Friday, April 25th. Roth Capital restated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Scotiabank raised their target price on shares of Alphabet from $200.00 to $240.00 and gave the stock a "sector outperform" rating in a research note on Tuesday. Oppenheimer restated an "outperform" rating and issued a $220.00 target price (up previously from $200.00) on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Tigress Financial restated a "strong-buy" rating on shares of Alphabet in a research note on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $212.69.
Check Out Our Latest Stock Analysis on Alphabet
Alphabet Price Performance
NASDAQ:GOOG traded up $2.66 during mid-day trading on Thursday, hitting $194.17. 32,443,234 shares of the company's stock traded hands, compared to its average volume of 24,142,451. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The firm's 50 day simple moving average is $175.77 and its 200 day simple moving average is $174.72. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The company has a market cap of $2.36 trillion, a PE ratio of 21.64, a price-to-earnings-growth ratio of 1.33 and a beta of 1.01.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. During the same period last year, the firm posted $1.89 EPS. The firm's revenue for the quarter was up 13.8% on a year-over-year basis. Sell-side analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.
About Alphabet
(
Free Report)
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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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