Castle Rock Wealth Management LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 126.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 635 shares of the information services provider’s stock after acquiring an additional 354 shares during the quarter. Castle Rock Wealth Management LLC’s holdings in Alphabet were worth $1,651,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Amplius Wealth Advisors LLC purchased a new position in Alphabet in the 4th quarter worth about $1,422,000. Edge Wealth Management LLC increased its stake in Alphabet by 1.4% in the 4th quarter. Edge Wealth Management LLC now owns 10,641 shares of the information services provider’s stock worth $30,826,000 after buying an additional 146 shares during the period. Clear Street Markets LLC purchased a new position in Alphabet in the 4th quarter worth about $629,000. HNP Capital LLC increased its stake in Alphabet by 11.3% in the 4th quarter. HNP Capital LLC now owns 89 shares of the information services provider’s stock worth $258,000 after buying an additional 9 shares during the period. Finally, Alpha Cubed Investments LLC increased its stake in Alphabet by 28.3% in the 4th quarter. Alpha Cubed Investments LLC now owns 9,650 shares of the information services provider’s stock worth $27,955,000 after buying an additional 2,131 shares during the period. Hedge funds and other institutional investors own 41.70% of the company’s stock.
Shares of NASDAQ GOOGL opened at $2,313.53 on Tuesday. 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 $2,037.69 and a 12 month high of $3,030.93. The company has a 50 day simple moving average of $2,256.04 and a two-hundred day simple moving average of $2,535.83. The stock has a market cap of $1.52 trillion, a price-to-earnings ratio of 20.93, a PEG ratio of 1.17 and a beta of 1.10.
Shares of Alphabet are going to split before the market opens on Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly created shares will be issued to shareholders after the market closes on Friday, July 15th.
Alphabet (NASDAQ:GOOGL – Get Rating) last posted its earnings results on Tuesday, April 26th. The information services provider reported $24.62 earnings per share for the quarter, missing the consensus estimate of $25.70 by ($1.08). The firm had revenue of $56.02 billion for the quarter, compared to analysts’ expectations of $56.17 billion. Alphabet had a net margin of 27.57% and a return on equity of 30.18%. During the same period last year, the firm earned $26.29 earnings per share. Analysts forecast that Alphabet Inc. will post 110.62 EPS for the current year.
Several research analysts recently commented on GOOGL shares. UBS Group reduced their price target on shares of Alphabet from $3,600.00 to $2,650.00 and set a “buy” rating on the stock in a research note on Thursday, June 16th. StockNews.com downgraded shares of Alphabet from a “buy” rating to a “hold” rating in a research report on Friday, April 29th. Mizuho cut their target price on shares of Alphabet from $3,600.00 to $3,500.00 and set a “buy” rating on the stock in a research report on Wednesday, April 27th. Tigress Financial raised their target price on shares of Alphabet from $3,540.00 to $3,670.00 and gave the company a “strong-buy” rating in a research report on Friday, March 18th. Finally, Moffett Nathanson cut their target price on shares of Alphabet to $2,650.00 in a research report on Thursday, May 26th. One equities research analyst has rated the stock with a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Alphabet currently has an average rating of “Buy” and a consensus target price of $3,251.65.
In other news, Director Brin Sergey sold 2,710 shares of Alphabet stock in a transaction that occurred on Wednesday, April 13th. The shares were sold at an average price of $2,600.32, for a total transaction of $7,046,867.20. Following the completion of the transaction, the director now directly owns 18,571,041 shares of the company’s stock, valued at approximately $48,290,649,333.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ann Mather sold 20 shares of the business’s stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $2,383.32, for a total transaction of $47,666.40. Following the transaction, the director now directly owns 565 shares in the company, valued at approximately $1,346,575.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,549 shares of company stock valued at $19,920,606. Insiders own 11.44% of the company’s stock.
Alphabet Company Profile (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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