Cidel Asset Management Inc. lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 2.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 10,740 shares of the information services provider’s stock after selling 300 shares during the quarter. Cidel Asset Management Inc.’s holdings in Alphabet were worth $1,117,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of GOOG. Corrado Advisors LLC bought a new position in shares of Alphabet during the 4th quarter worth $27,000. Milestone Wealth LLC grew its position in shares of Alphabet by 1,900.0% during the 3rd quarter. Milestone Wealth LLC now owns 380 shares of the information services provider’s stock worth $37,000 after buying an additional 361 shares in the last quarter. Bbjs Financial Advisors LLC bought a new position in shares of Alphabet during the 4th quarter worth $48,000. NewSquare Capital LLC grew its position in shares of Alphabet by 81.3% during the 4th quarter. NewSquare Capital LLC now owns 580 shares of the information services provider’s stock worth $51,000 after buying an additional 260 shares in the last quarter. Finally, Schubert & Co grew its position in shares of Alphabet by 54.7% during the 1st quarter. Schubert & Co now owns 498 shares of the information services provider’s stock worth $52,000 after buying an additional 176 shares in the last quarter. Institutional investors own 27.17% of the company’s stock.
Alphabet Trading Up 0.1 %
Shares of NASDAQ:GOOG opened at $128.77 on Friday. Alphabet Inc. has a 52-week low of $83.45 and a 52-week high of $134.07. The stock has a market cap of $1.63 trillion, a price-to-earnings ratio of 27.28, a PEG ratio of 1.49 and a beta of 1.06. The company has a quick ratio of 2.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average price of $123.83 and a 200-day moving average price of $110.29.
Alphabet (NASDAQ:GOOG – Get Free Report) last posted its earnings results on Tuesday, July 25th. The information services provider reported $1.44 EPS for the quarter, topping the consensus estimate of $1.32 by $0.12. The firm had revenue of $74.60 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. Alphabet’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the company earned $1.21 earnings per share. Equities analysts predict that Alphabet Inc. will post 5.64 EPS for the current year.
Insider Buying and Selling
In related news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $130.95, for a total transaction of $30,118.50. Following the sale, the director now directly owns 13,329 shares of the company’s stock, valued at $1,745,432.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Alphabet news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $130.95, for a total value of $30,118.50. Following the sale, the director now directly owns 13,329 shares of the company’s stock, valued at $1,745,432.55. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $12.72, for a total value of $347,128.80. Following the completion of the sale, the insider now directly owns 10,958,925 shares in the company, valued at $139,397,526. The disclosure for this sale can be found here. Insiders have sold a total of 826,435 shares of company stock valued at $25,801,000 over the last ninety days. Company insiders own 12.99% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on GOOG. Oppenheimer upped their price objective on Alphabet from $145.00 to $160.00 in a research note on Wednesday, July 26th. Robert W. Baird upped their price objective on Alphabet from $123.00 to $140.00 in a research note on Wednesday, July 26th. Susquehanna upped their price objective on Alphabet from $120.00 to $150.00 in a research note on Wednesday, July 26th. Deutsche Bank Aktiengesellschaft upped their price objective on Alphabet from $120.00 to $125.00 in a research note on Wednesday, April 26th. Finally, Raymond James upped their price objective on Alphabet from $119.00 to $130.00 in a research note on Wednesday, April 26th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $132.00.
Get Our Latest Stock Report on GOOG
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.
See Also
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