Capital Management Corp VA trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.1% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 44,322 shares of the information services provider's stock after selling 1,423 shares during the quarter. Capital Management Corp VA's holdings in Alphabet were worth $7,811,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of GOOGL. Guardian Wealth Management Inc. lifted its position in shares of Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after buying an additional 119 shares during the last quarter. IMA Advisory Services Inc. bought a new position in Alphabet in the first quarter valued at about $28,000. von Borstel & Associates Inc. bought a new position in shares of Alphabet during the first quarter worth about $28,000. NBZ Investment Advisors LLC raised its position in shares of Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock worth $30,000 after acquiring an additional 90 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. raised its position in shares of Alphabet by 36.4% during the second quarter. CarsonAllaria Wealth Management Ltd. now owns 251 shares of the information services provider's stock worth $44,000 after acquiring an additional 67 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.
Alphabet Trading Up 2.7%
NASDAQ GOOGL opened at $259.92 on Friday. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $261.68. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average of $236.72 and a 200-day moving average of $195.60. The firm has a market cap of $3.14 trillion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 1.75 and a beta of 1.00.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The company had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.
Wall Street Analysts Forecast Growth
GOOGL has been the subject of several recent analyst reports. HSBC initiated coverage on Alphabet in a research note on Tuesday, October 7th. They set a "buy" rating and a $285.00 target price for the company. Barclays lifted their target price on Alphabet from $235.00 to $250.00 and gave the company an "overweight" rating in a research report on Wednesday, September 3rd. Cantor Fitzgerald lifted their price target on Alphabet from $201.00 to $265.00 and gave the stock a "neutral" rating in a report on Monday, October 13th. Citizens Jmp boosted their target price on Alphabet from $250.00 to $290.00 and gave the company an "outperform" rating in a research note on Friday, September 19th. Finally, New Street Research boosted their target price on Alphabet from $275.00 to $295.00 in a research note on Friday. Four investment analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and a consensus price target of $263.55.
View Our Latest Research Report on GOOGL
Insider Buying and Selling at Alphabet
In other Alphabet news, CAO Amie Thuener O'toole sold 2,778 shares of the company's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer owned 17,293 shares of the company's stock, valued at $4,236,785. This represents a 13.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John Kent Walker sold 23,820 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares of the company's stock, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 246,150 shares of company stock valued at $55,805,379 in the last 90 days. Insiders own 11.64% of the company's stock.
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.
Further Reading
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