AllSquare Wealth Management LLC lessened its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 12.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 210 shares of the information services provider’s stock after selling 30 shares during the quarter. AllSquare Wealth Management LLC’s holdings in Alphabet were worth $244,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of GOOG. Lighthouse Financial Advisors Inc. bought a new position in shares of Alphabet during the 4th quarter worth approximately $25,000. Cox Capital Mgt LLC bought a new position in shares of Alphabet during the 1st quarter worth approximately $27,000. Wealthcare Capital Management LLC lifted its position in shares of Alphabet by 300.0% during the 4th quarter. Wealthcare Capital Management LLC now owns 32 shares of the information services provider’s stock worth $43,000 after buying an additional 24 shares during the period. Cedar Mountain Advisors LLC bought a new position in Alphabet in the 4th quarter valued at $43,000. Finally, Cordasco Financial Network raised its position in Alphabet by 32.1% in the 1st quarter. Cordasco Financial Network now owns 37 shares of the information services provider’s stock valued at $43,000 after purchasing an additional 9 shares during the last quarter. Institutional investors and hedge funds own 32.99% of the company’s stock.
GOOG has been the subject of a number of research analyst reports. Raymond James cut their price target on Alphabet from $1,580.00 to $1,425.00 and set an “outperform” rating for the company in a report on Tuesday, April 21st. They noted that the move was a valuation call. Deutsche Bank reiterated a “buy” rating and set a $1,700.00 target price on shares of Alphabet in a research report on Tuesday, May 5th. Zacks Investment Research lowered shares of Alphabet from a “hold” rating to a “sell” rating in a report on Thursday, April 30th. Susquehanna Bancshares upped their price objective on Alphabet from $1,550.00 to $1,800.00 in a report on Wednesday, April 29th. Finally, DZ Bank reiterated a “buy” rating on shares of Alphabet in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company. Alphabet presently has a consensus rating of “Buy” and a consensus target price of $1,580.52.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, April 28th. The information services provider reported $9.87 earnings per share for the quarter, missing analysts’ consensus estimates of $11.27 by ($1.40). Alphabet had a return on equity of 17.43% and a net margin of 20.71%. The firm had revenue of $41.16 billion for the quarter, compared to the consensus estimate of $40.29 billion. During the same period in the prior year, the business earned $9.50 earnings per share. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. Analysts anticipate that Alphabet Inc will post 41.47 EPS for the current fiscal year.
In other news, Director John L. Hennessy sold 60 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $1,363.61, for a total value of $81,816.60. Following the completion of the transaction, the director now owns 592 shares in the company, valued at $807,257.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 61 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $1,397.68, for a total transaction of $85,258.48. Following the sale, the chief accounting officer now directly owns 388 shares of the company’s stock, valued at approximately $542,299.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 325 shares of company stock valued at $409,753. Insiders own 12.99% of the company’s stock.
Alphabet Company Profile
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.
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