Baker Ellis Asset Management LLC raised its stake in Alphabet Inc. (NASDAQ:GOOG) by 4.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,275 shares of the information services provider’s stock after acquiring an additional 130 shares during the period. Alphabet accounts for approximately 1.5% of Baker Ellis Asset Management LLC’s portfolio, making the stock its 13th largest position. Baker Ellis Asset Management LLC’s holdings in Alphabet were worth $6,775,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Resolute Partners Group acquired a new position in Alphabet in the fourth quarter valued at $26,000. Mascoma Wealth Management LLC purchased a new stake in shares of Alphabet in the first quarter valued at about $27,000. Brand Asset Management Group Inc. raised its holdings in shares of Alphabet by 200.0% in the first quarter. Brand Asset Management Group Inc. now owns 15 shares of the information services provider’s stock valued at $31,000 after buying an additional 10 shares during the last quarter. ADE LLC purchased a new stake in shares of Alphabet in the fourth quarter valued at about $32,000. Finally, Carolina Wealth Advisors LLC raised its holdings in shares of Alphabet by 50.0% in the first quarter. Carolina Wealth Advisors LLC now owns 18 shares of the information services provider’s stock valued at $37,000 after buying an additional 6 shares during the last quarter. Institutional investors own 31.94% of the company’s stock.
In other news, CEO Sundar Pichai sold 3,000 shares of Alphabet stock in a transaction dated Wednesday, March 3rd. The shares were sold at an average price of $2,068.50, for a total value of $6,205,500.00. Following the completion of the transaction, the chief executive officer now directly owns 6,757 shares of the company’s stock, valued at approximately $13,976,854.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 70 shares of Alphabet stock in a transaction dated Monday, February 8th. The shares were sold at an average price of $2,085.54, for a total transaction of $145,987.80. Following the completion of the transaction, the director now directly owns 41 shares of the company’s stock, valued at $85,507.14. The disclosure for this sale can be found here. Insiders have sold a total of 20,131 shares of company stock worth $43,393,845 in the last ninety days. 12.99% of the stock is currently owned by insiders.
Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Monday, April 26th. The information services provider reported $26.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $15.74 by $10.55. Alphabet had a net margin of 20.80% and a return on equity of 17.31%. The firm had revenue of $55.30 billion for the quarter, compared to the consensus estimate of $51.40 billion. During the same quarter in the previous year, the firm posted $9.87 EPS. The firm’s quarterly revenue was up 34.4% on a year-over-year basis. Equities research analysts expect that Alphabet Inc. will post 52.19 EPS for the current fiscal year.
GOOG has been the subject of a number of research reports. Canaccord Genuity upped their target price on shares of Alphabet from $2,400.00 to $2,600.00 and gave the company a “buy” rating in a report on Monday, April 26th. Zacks Investment Research raised shares of Alphabet from a “hold” rating to a “strong-buy” rating and set a $2,794.00 target price for the company in a report on Friday. UBS Group reissued a “buy” rating on shares of Alphabet in a report on Wednesday, April 28th. Evercore ISI reissued an “outperform” rating and set a $2,525.00 price target on shares of Alphabet in a report on Tuesday, April 13th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a report on Wednesday, February 3rd. One analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $2,495.63.
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. The company offers performance and brand advertising services. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, such as ads, Android, Chrome, hardware, Google Maps, Google Play, Search, and YouTube, as well as technical infrastructure; and digital content.
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