Sargent Investment Group LLC cut its holdings in shares of Alphabet Inc (NASDAQ:GOOG) by 7.5% during the first quarter, Holdings Channel.com reports. The fund owned 2,270 shares of the information services provider’s stock after selling 184 shares during the period. Alphabet accounts for approximately 1.2% of Sargent Investment Group LLC’s portfolio, making the stock its 23rd largest position. Sargent Investment Group LLC’s holdings in Alphabet were worth $2,640,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also bought and sold shares of the business. TLW Wealth Management LLC increased its holdings in shares of Alphabet by 0.5% in the fourth quarter. TLW Wealth Management LLC now owns 5,319 shares of the information services provider’s stock worth $7,112,000 after purchasing an additional 26 shares during the last quarter. CWM LLC grew its position in Alphabet by 14.9% in the fourth quarter. CWM LLC now owns 2,293 shares of the information services provider’s stock worth $3,066,000 after acquiring an additional 297 shares in the last quarter. Empirical Finance LLC grew its position in Alphabet by 57.2% in the fourth quarter. Empirical Finance LLC now owns 1,143 shares of the information services provider’s stock worth $1,528,000 after acquiring an additional 416 shares in the last quarter. Steigerwald Gordon & Koch Inc. purchased a new position in Alphabet in the fourth quarter worth about $258,000. Finally, Doliver Advisors LP grew its position in Alphabet by 1.2% in the fourth quarter. Doliver Advisors LP now owns 2,942 shares of the information services provider’s stock worth $3,934,000 after acquiring an additional 35 shares in the last quarter. 32.99% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently commented on the company. Wedbush reiterated an “outperform” rating and issued a $1,625.00 price target on shares of Alphabet in a research report on Tuesday, February 4th. Nomura Securities lifted their price target on Alphabet from $1,560.00 to $1,680.00 in a research report on Tuesday, February 4th. Piper Sandler lifted their price target on Alphabet from $1,500.00 to $1,600.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Oppenheimer dropped their target price on Alphabet from $1,465.00 to $1,445.00 and set an “outperform” rating for the company in a research report on Friday, April 17th. Finally, UBS Group boosted their target price on Alphabet from $1,530.00 to $1,600.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company. Alphabet has a consensus rating of “Buy” and a consensus price target 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 (EPS) for the quarter, missing analysts’ consensus estimates of $11.27 by ($1.40). The firm had revenue of $41.16 billion during the quarter, compared to analysts’ expectations of $40.29 billion. Alphabet had a net margin of 20.71% and a return on equity of 17.43%. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $9.50 EPS. Equities research analysts anticipate that Alphabet Inc will post 41.47 earnings per share for the current fiscal year.
In related news, Director John L. Hennessy sold 60 shares of the business’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 of the company’s stock, valued at $807,257.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 61 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, 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. Insiders sold 325 shares of company stock valued at $409,753 in the last three months. 12.99% of the stock is currently owned by insiders.
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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