Carolina Wealth Advisors LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 50.0% in the first quarter, Holdings Channel reports. The fund owned 18 shares of the information services provider’s stock after buying an additional 6 shares during the period. Carolina Wealth Advisors LLC’s holdings in Alphabet were worth $37,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the business. Paragon Wealth Strategies LLC acquired a new stake in Alphabet in the 1st quarter valued at about $703,000. CHURCHILL MANAGEMENT Corp acquired a new stake in Alphabet in the 1st quarter valued at about $201,000. Hoffman Alan N Investment Management raised its holdings in Alphabet by 1.5% in the 1st quarter. Hoffman Alan N Investment Management now owns 1,516 shares of the information services provider’s stock valued at $3,136,000 after acquiring an additional 22 shares during the last quarter. Summit Financial Group Inc. acquired a new stake in Alphabet in the 1st quarter valued at about $203,000. Finally, Silverleafe Capital Partners LLC raised its holdings in Alphabet by 2.8% in the 1st quarter. Silverleafe Capital Partners LLC now owns 181 shares of the information services provider’s stock valued at $374,000 after acquiring an additional 5 shares during the last quarter. Institutional investors own 31.94% of the company’s stock.
In other news, Director John L. Hennessy sold 70 shares of the firm’s stock in a transaction on Wednesday, April 7th. The shares were sold at an average price of $2,243.44, for a total value of $157,040.80. Following the sale, the director now directly owns 64 shares in the company, valued at approximately $143,580.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 3,000 shares of the firm’s stock in a transaction on Wednesday, April 7th. The shares were sold at an average price of $2,232.66, for a total transaction of $6,697,980.00. Following the completion of the sale, the chief executive officer now owns 6,407 shares in the company, valued at $14,304,652.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,104 shares of company stock worth $35,725,438. 12.99% of the stock is owned by company insiders.
Alphabet stock opened at $2,285.88 on Monday. The firm has a market cap of $1.54 trillion, a PE ratio of 44.17, a price-to-earnings-growth ratio of 1.66 and a beta of 0.98. Alphabet Inc. has a 52-week low of $1,187.60 and a 52-week high of $2,289.04. The company has a quick ratio of 3.39, a current ratio of 3.41 and a debt-to-equity ratio of 0.07. The company’s 50 day moving average is $2,083.69 and its two-hundred day moving average is $1,828.11.
Alphabet (NASDAQ:GOOG) last released its earnings results on Monday, February 1st. The information services provider reported $22.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $15.91 by $6.39. The company had revenue of $56.90 billion for the quarter, compared to analyst estimates of $52.86 billion. Alphabet had a net margin of 20.80% and a return on equity of 17.31%. The firm’s quarterly revenue was up 23.5% on a year-over-year basis. During the same period in the prior year, the business earned $15.35 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 52.19 earnings per share for the current fiscal year.
Several research firms have recently weighed in on GOOG. Wolfe Research began coverage on shares of Alphabet in a research note on Wednesday, March 31st. They issued an “outperform” rating and a $2,450.00 price target for the company. The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, February 3rd. Canaccord Genuity increased their price target on shares of Alphabet from $2,250.00 to $2,400.00 and gave the company a “buy” rating in a research note on Wednesday, February 3rd. They noted that the move was a valuation call. Raymond James increased their price target on shares of Alphabet from $1,800.00 to $2,440.00 and gave the company an “outperform” rating in a research note on Wednesday, February 3rd. They noted that the move was a valuation call. Finally, Barclays reissued a “buy” rating on shares of Alphabet in a research note on Thursday, February 4th. One analyst has rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. Alphabet has an average rating of “Buy” and an average price target of $2,244.11.
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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