Activest Wealth Management Sells 6 Shares of Alphabet Inc. (NASDAQ:GOOGL)

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Activest Wealth Management lessened its position in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 403 shares of the information services provider’s stock after selling 6 shares during the period. Alphabet accounts for about 0.7% of Activest Wealth Management’s portfolio, making the stock its 12th biggest holding. Activest Wealth Management’s holdings in Alphabet were worth $1,120,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GOOGL. Amplius Wealth Advisors LLC acquired a new position in Alphabet in the 4th quarter worth about $1,422,000. Edge Wealth Management LLC increased its holdings 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 purchasing an additional 146 shares in the last quarter. CRA Financial Services LLC increased its stake in shares of Alphabet by 0.9% in the fourth quarter. CRA Financial Services LLC now owns 3,088 shares of the information services provider’s stock valued at $8,946,000 after buying an additional 28 shares during the period. Sound View Wealth Advisors Group LLC increased its stake in shares of Alphabet by 1.7% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 1,176 shares of the information services provider’s stock valued at $3,407,000 after buying an additional 20 shares during the period. Finally, Transcend Wealth Collective LLC increased its stake in shares of Alphabet by 10.7% in the fourth quarter. Transcend Wealth Collective LLC now owns 4,705 shares of the information services provider’s stock valued at $13,631,000 after buying an additional 455 shares during the period. Institutional investors and hedge funds own 41.70% of the company’s stock.

Alphabet Stock Up 1.3 %

GOOGL stock opened at $2,235.55 on Friday. Alphabet Inc. has a twelve month low of $2,037.69 and a twelve month high of $3,030.93. The company has a quick ratio of 2.85, a current ratio of 2.87 and a debt-to-equity ratio of 0.06. The stock’s 50 day moving average is $154.79 and its 200-day moving average is $140.84. The firm has a market capitalization of $1.47 trillion, a PE ratio of 20.22, a P/E/G ratio of 1.12 and a beta of 1.10.

Alphabet shares are set to split before the market opens on Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly issued shares will be distributed to shareholders after the market closes on Friday, July 15th.

Alphabet (NASDAQ:GOOGLGet Rating) last issued its quarterly earnings results on Tuesday, April 26th. The information services provider reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.05). The business 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 in the previous year, the business posted $1.31 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 110.17 EPS for the current fiscal year.

Insider Activity at Alphabet

In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv purchased 255,647 shares of the firm’s stock in a transaction that occurred on Tuesday, May 10th. The stock was bought at an average cost of $34.65 per share, with a total value of $8,858,168.55. Following the completion of the transaction, the insider now owns 479,695 shares of the company’s stock, valued at approximately $16,621,431.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder 2021 Gp L.L.C. Gv bought 255,647 shares of the firm’s stock in a transaction on Tuesday, May 10th. The stock was acquired at an average cost of $34.65 per share, with a total value of $8,858,168.55. Following the completion of the transaction, the insider now directly owns 479,695 shares of the company’s stock, valued at approximately $16,621,431.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 75 shares of the firm’s stock in a transaction on Monday, July 11th. The stock was sold at an average price of $2,337.13, for a total value of $175,284.75. Following the completion of the sale, the director now directly owns 233 shares of the company’s stock, valued at $544,551.29. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,839 shares of company stock valued at $12,873,739. 11.44% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GOOGL. Piper Sandler decreased their price target on Alphabet from $145.00 to $138.75 and set an “overweight” rating for the company in a research note on Thursday, June 2nd. Stifel Nicolaus decreased their price target on Alphabet from $175.00 to $155.00 and set a “buy” rating for the company in a research note on Wednesday, April 27th. UBS Group decreased their price target on Alphabet from $180.00 to $132.50 and set a “buy” rating for the company in a research note on Thursday, June 16th. Mizuho decreased their price target on Alphabet from $180.00 to $175.00 and set a “buy” rating for the company in a research note on Wednesday, April 27th. Finally, Citigroup decreased their price target on Alphabet from $158.75 to $145.00 in a research note on Thursday. One research analyst has rated the stock with a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Alphabet currently has a consensus rating of “Buy” and an average target price of $162.21.

Alphabet Profile

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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.

Further Reading

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