Hutchens & Kramer Investment Management Group LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 7.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,504 shares of the information services provider’s stock after buying an additional 172 shares during the quarter. Hutchens & Kramer Investment Management Group LLC’s holdings in Alphabet were worth $300,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Live Oak Investment Partners purchased a new stake in Alphabet during the 4th quarter worth about $26,000. Sanctuary Wealth Management L.L.C. purchased a new position in shares of Alphabet in the 4th quarter valued at about $34,000. Turim 21 Investimentos Ltda. purchased a new position in shares of Alphabet in the 3rd quarter valued at about $38,000. IAG Wealth Partners LLC increased its holdings in shares of Alphabet by 100.0% in the 1st quarter. IAG Wealth Partners LLC now owns 400 shares of the information services provider’s stock valued at $41,000 after acquiring an additional 200 shares during the last quarter. Finally, Kalos Management Inc. purchased a new position in shares of Alphabet in the 1st quarter valued at about $48,000. Hedge funds and other institutional investors own 35.08% of the company’s stock.
Alphabet Price Performance
Shares of Alphabet stock opened at $132.43 on Wednesday. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $139.16. The stock has a market capitalization of $1.67 trillion, a P/E ratio of 28.06, a PEG ratio of 1.51 and a beta of 1.06. The company has a current ratio of 2.17, a quick ratio of 2.14 and a debt-to-equity ratio of 0.05. The business’s fifty day moving average price is $132.30 and its 200 day moving average price is $121.09.
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its quarterly earnings data on Tuesday, July 25th. The information services provider reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.12. The company had revenue of $74.60 billion for the quarter, compared to analysts’ expectations of $60.24 billion. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. During the same quarter in the previous year, the firm posted $1.21 earnings per share. As a group, research analysts anticipate that Alphabet Inc. will post 5.68 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of research analysts have recently commented on GOOGL shares. Evercore ISI increased their price objective on Alphabet from $130.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, July 26th. Piper Sandler decreased their target price on Alphabet from $148.00 to $147.00 and set an “overweight” rating for the company in a research report on Tuesday. UBS Group cut Alphabet from a “buy” rating to a “neutral” rating and upped their target price for the company from $123.00 to $132.00 in a research report on Monday, June 26th. Truist Financial upped their target price on Alphabet from $122.00 to $160.00 in a research report on Wednesday, July 26th. Finally, The Goldman Sachs Group upped their target price on Alphabet from $132.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, July 17th. Four analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $143.86.
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Insider Transactions at Alphabet
In related news, Director Kavitark Ram Shriram sold 31,240 shares of the business’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $116.82, for a total value of $3,649,456.80. Following the completion of the sale, the director now directly owns 5,364 shares of the company’s stock, valued at $626,622.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $131.14, for a total transaction of $26,228.00. Following the completion of the transaction, the director now directly owns 5,340 shares of the company’s stock, valued at $700,287.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 31,240 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $116.82, for a total value of $3,649,456.80. Following the transaction, the director now owns 5,364 shares of the company’s stock, valued at $626,622.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 116,248 shares of company stock valued at $15,024,706. 0.88% of the stock is currently owned by insiders.
Alphabet 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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
Further Reading
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