CCG Wealth Management LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 16.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 173 shares of the information services provider’s stock after purchasing an additional 25 shares during the quarter. CCG Wealth Management LLC’s holdings in Alphabet were worth $481,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Grassi Investment Management lifted its stake in shares of Alphabet by 17.4% in the 1st quarter. Grassi Investment Management now owns 1,040 shares of the information services provider’s stock valued at $2,893,000 after purchasing an additional 154 shares during the period. DBK Financial Counsel LLC acquired a new stake in Alphabet during the 1st quarter worth $223,000. Affiance Financial LLC raised its stake in Alphabet by 3.3% during the 1st quarter. Affiance Financial LLC now owns 410 shares of the information services provider shares’s stock worth $1,140,000 after buying an additional 13 during the period. Bowling Portfolio Management LLC raised its stake in Alphabet by 1.3% during the 1st quarter. Bowling Portfolio Management LLC now owns 6,761 shares of the information services provider’s stock worth $18,805,000 after buying an additional 90 shares during the period. Finally, Icapital Wealth LLC raised its stake in Alphabet by 67.0% during the 1st quarter. Icapital Wealth LLC now owns 436 shares of the information services provider’s stock worth $1,185,000 after buying an additional 175 shares during the period. 41.70% of the stock is currently owned by institutional investors.
In other Alphabet news, SVP Prabhakar Raghavan sold 490 shares of the business’s stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $2,335.30, for a total transaction of $1,144,297.00. Following the completion of the transaction, the senior vice president now directly owns 497 shares in the company, valued at $1,160,644.10. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder 2016 Gp LLC Gv sold 544,249 shares of the business’s stock in a transaction that occurred on Monday, April 11th. The shares were sold at an average price of $11.16, for a total transaction of $6,073,818.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 550,357 shares of company stock valued at $21,855,978. 11.44% of the stock is owned by company insiders.
GOOGL has been the topic of several research analyst reports. Credit Suisse Group dropped their objective price on Alphabet from $3,450.00 to $3,400.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 27th. BMO Capital Markets dropped their objective price on Alphabet from $3,300.00 to $3,000.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 27th. Trustee Financial dropped their price objective on Alphabet from $3,600.00 to $3,500.00 and set a “buy” rating on the stock in a research note on Wednesday, April 27th. Mizuho lowered their target price on Alphabet from $3,600.00 to $3,500.00 and set a “buy” rating for the company in a report on Wednesday, April 27th. Finally, Rosenblatt Securities initiated coverage on Alphabet in a report on Tuesday, April 19th. They set a “buy” rating and a $4,183.00 target price for the company. One research analyst has rated the stock with a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Buy” and an average price target of $3,297.86.
Shares of GOOGL stock opened at $2,244.84 on Friday. The firm has a 50 day moving average price of $2,294.65 and a two-hundred day moving average price of $2,594.11. 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 company has a market capitalization of $1.48 trillion, a PE ratio of 20.30, a price-to-earnings-growth ratio of 1.09 and a beta of 1.13. Alphabet Inc. has a 12-month low of $2,037.69 and a 12-month high of $3,030.93.
Alphabet’s stock is set to split before the market opens on Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly minted shares will be payable to shareholders after the closing bell on Friday, July 15th.
Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings results on Tuesday, April 26th. The information services provider reported $24.62 earnings per share for the quarter, missing analysts’ consensus estimates of $25.70 by ($1.08). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. The business had revenue of $56.02 billion during the quarter, compared to analyst estimates of $56.17 billion. During the same quarter in the previous year, the firm posted $26.29 earnings per share. As a group, research analysts expect that Alphabet Inc. will post 110.83 EPS for the current year.
Alphabet 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 Pets 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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