Teamwork Financial Advisors LLC lessened its stake in shares of Alphabet Inc (NASDAQ:GOOG) by 5.8% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 180 shares of the information services provider’s stock after selling 11 shares during the quarter. Teamwork Financial Advisors LLC’s holdings in Alphabet were worth $265,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Virtus ETF Advisers LLC acquired a new stake in shares of Alphabet during the 2nd quarter worth about $38,000. Campbell Wealth Management acquired a new stake in shares of Alphabet during the 2nd quarter worth about $41,000. Islay Capital Management LLC lifted its stake in shares of Alphabet by 40.0% during the 2nd quarter. Islay Capital Management LLC now owns 35 shares of the information services provider’s stock worth $49,000 after buying an additional 10 shares during the last quarter. Prestige Wealth Management Group LLC lifted its stake in shares of Alphabet by 1,700.0% during the 1st quarter. Prestige Wealth Management Group LLC now owns 36 shares of the information services provider’s stock worth $42,000 after buying an additional 34 shares during the last quarter. Finally, Cedar Mountain Advisors LLC lifted its stake in shares of Alphabet by 34.4% during the 2nd quarter. Cedar Mountain Advisors LLC now owns 43 shares of the information services provider’s stock worth $61,000 after buying an additional 11 shares during the last quarter. Institutional investors own 32.42% of the company’s stock.
In other Alphabet news, Director John L. Hennessy sold 60 shares of the business’s stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $1,473.43, for a total transaction of $88,405.80. Following the sale, the director now directly owns 548 shares of the company’s stock, valued at approximately $807,439.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ann Mather sold 22 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $1,484.27, for a total transaction of $32,653.94. Following the sale, the director now directly owns 1,134 shares in the company, valued at $1,683,162.18. The disclosure for this sale can be found here. Insiders have sold a total of 142 shares of company stock worth $213,357 over the last ninety days. 12.99% of the stock is currently owned by insiders.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, July 30th. The information services provider reported $10.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.43 by $1.70. The company had revenue of $31.60 billion for the quarter, compared to analyst estimates of $30.58 billion. Alphabet had a net margin of 18.99% and a return on equity of 15.62%. As a group, research analysts anticipate that Alphabet Inc will post 44.84 earnings per share for the current year.
A number of research firms have recently issued reports on GOOG. Pivotal Research raised their target price on shares of Alphabet from $1,575.00 to $1,725.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $1,505.00 to $1,700.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. UBS Group reiterated a “buy” rating and issued a $1,970.00 price objective (up previously from $1,600.00) on shares of Alphabet in a research note on Tuesday, August 25th. Raymond James lifted their price objective on shares of Alphabet from $1,425.00 to $1,700.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Finally, Barclays reiterated a “buy” rating on shares of Alphabet in a research note on Monday, August 3rd. Four investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Alphabet presently has an average rating of “Buy” and an average target price of $1,703.33.
Alphabet Company Profile
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.
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