Leelyn Smith LLC Has $5.79 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Leelyn Smith LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,468 shares of the information services provider's stock after selling 3,587 shares during the quarter. Alphabet makes up about 1.0% of Leelyn Smith LLC's holdings, making the stock its 20th biggest position. Leelyn Smith LLC's holdings in Alphabet were worth $5,794,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. von Borstel & Associates Inc. acquired a new position in shares of Alphabet during the 1st quarter worth $28,000. Financial Gravity Asset Management Inc. acquired a new position in Alphabet in the 1st quarter valued at $39,000. Elite Financial Inc. acquired a new position in Alphabet in the 1st quarter valued at $42,000. Anderson Financial Strategies LLC acquired a new position in Alphabet in the 4th quarter valued at $49,000. Finally, EQ Wealth Advisors LLC acquired a new position in Alphabet in the 1st quarter valued at $49,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GOOGL shares. Barclays raised their target price on shares of Alphabet from $220.00 to $235.00 and gave the company an "overweight" rating in a research note on Thursday. Wells Fargo & Company raised their target price on shares of Alphabet from $177.00 to $184.00 and gave the company an "equal weight" rating in a research note on Thursday. Truist Financial reiterated a "buy" rating and issued a $200.00 target price on shares of Alphabet in a research note on Wednesday, July 2nd. Wedbush raised their target price on shares of Alphabet from $200.00 to $225.00 and gave the company an "outperform" rating in a research note on Thursday. Finally, BNP Paribas Exane reiterated a "neutral" rating and issued a $172.00 target price on shares of Alphabet in a research note on Friday, June 27th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $211.32.

Alphabet Trading Up 1.0%

Shares of NASDAQ:GOOGL traded up $1.94 during trading on Thursday, hitting $192.17. 74,740,490 shares of the company's stock were exchanged, compared to its average volume of 39,272,972. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The firm has a 50-day moving average price of $175.23 and a two-hundred day moving average price of $173.10. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.33 trillion, a P/E ratio of 20.47, a PEG ratio of 1.33 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 31.12% and a return on equity of 35.22%. The company had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter in the previous year, the company earned $1.89 EPS. Equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the sale, the director owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 400 shares of Alphabet stock in a transaction that occurred on Monday, July 14th. The stock was sold at an average price of $181.98, for a total transaction of $72,792.00. Following the sale, the director owned 6,013 shares of the company's stock, valued at approximately $1,094,245.74. This represents a 6.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 249,409 shares of company stock worth $43,523,710 in the last quarter. 11.64% of the stock is owned by company insiders.

Alphabet Company Profile

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.