Salvus Wealth Management LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 7.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,768 shares of the information services provider’s stock after purchasing an additional 194 shares during the quarter. Alphabet comprises about 5.9% of Salvus Wealth Management LLC’s portfolio, making the stock its 2nd biggest position. Salvus Wealth Management LLC’s holdings in Alphabet were worth $7,731,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of GOOG. C2C Wealth Management LLC purchased a new position in Alphabet in the 4th quarter worth $1,438,000. Schrum Private Wealth Management LLC purchased a new position in Alphabet in the 4th quarter worth $387,000. Essex Savings Bank raised its stake in Alphabet by 0.5% in the 4th quarter. Essex Savings Bank now owns 1,245 shares of the information services provider’s stock worth $3,602,000 after acquiring an additional 6 shares during the last quarter. Beacon Financial Group raised its stake in Alphabet by 4.9% in the 1st quarter. Beacon Financial Group now owns 427 shares of the information services provider’s stock worth $1,205,000 after acquiring an additional 20 shares during the last quarter. Finally, Nellore Capital Management LLC raised its stake in shares of Alphabet by 9.0% during the 4th quarter. Nellore Capital Management LLC now owns 18,760 shares of the information services provider’s stock valued at $54,284,000 after buying an additional 1,550 shares during the last quarter. 31.20% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have weighed in on GOOG. Oppenheimer reiterated an “outperform” rating and set a $3,290.00 price objective on shares of Alphabet in a research note on Thursday, April 28th. Canaccord Genuity Group reduced their price objective on Alphabet from $3,500.00 to $3,300.00 and set a “buy” rating for the company in a research note on Wednesday, April 27th. JPMorgan Chase & Co. reduced their price objective on Alphabet from $3,450.00 to $3,200.00 in a research note on Wednesday, April 27th. Deutsche Bank Aktiengesellschaft reduced their price objective on Alphabet from $3,150.00 to $2,900.00 in a research note on Wednesday, April 27th. Finally, Tigress Financial lifted their price objective on Alphabet from $3,540.00 to $3,670.00 in a research note on Friday, March 18th. Twenty-nine research analysts have rated the stock with a buy rating, According to MarketBeat, Alphabet presently has an average rating of “Buy” and an average price target of $3,315.38.
GOOG stock opened at $2,240.68 on Thursday. The company has a current ratio of 2.87, a quick ratio of 2.85 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 12-month low of $2,044.16 and a 12-month high of $3,042.00. The stock has a market cap of $1.48 trillion, a price-to-earnings ratio of 20.27, a PEG ratio of 1.04 and a beta of 1.13. The business’s 50-day moving average is $2,308.00 and its 200 day moving average is $2,604.33.
Alphabet’s stock is going to split on the morning of Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly minted shares will be issued to shareholders after the closing bell on Friday, July 15th.
Alphabet (NASDAQ:GOOG – Get Rating) last posted its quarterly earnings data on Tuesday, April 26th. The information services provider reported $24.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $25.70 by ($1.08). The firm had revenue of $56.02 billion during the quarter, compared to analyst estimates of $56.17 billion. Alphabet had a return on equity of 30.18% and a net margin of 27.57%. During the same quarter in the previous year, the firm posted $26.29 earnings per share. As a group, equities analysts forecast that Alphabet Inc. will post 111.86 EPS for the current fiscal year.
In other news, major shareholder 2016 Gp L.L.C. Gv sold 544,249 shares of the business’s stock in a transaction that occurred on Monday, April 11th. The stock was sold at an average price of $11.16, for a total transaction of $6,073,818.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ann Mather sold 21 shares of the business’s stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $2,102.84, for a total value of $44,159.64. Following the transaction, the director now owns 565 shares in the company, valued at $1,188,104.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 551,675 shares of company stock worth $25,567,428. Insiders own 12.99% of the company’s stock.
About Alphabet (Get Rating)
Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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