Alera Investment Advisors LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 105.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 679 shares of the information services provider’s stock after acquiring an additional 348 shares during the period. Alphabet comprises approximately 0.4% of Alera Investment Advisors LLC’s holdings, making the stock its 27th biggest holding. Alera Investment Advisors LLC’s holdings in Alphabet were worth $1,889,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Dravo Bay LLC acquired a new position in shares of Alphabet during the first quarter worth about $28,000. West Bancorporation Inc. acquired a new position in Alphabet during the 4th quarter worth approximately $29,000. Wealthgate Family Office LLC purchased a new position in Alphabet in the 4th quarter worth approximately $32,000. NS Partners Ltd acquired a new stake in Alphabet in the fourth quarter valued at approximately $41,000. Finally, Greenspring Advisors LLC raised its stake in shares of Alphabet by 76.6% during the first quarter. Greenspring Advisors LLC now owns 491 shares of the information services provider’s stock valued at $49,000 after purchasing an additional 213 shares during the period. Institutional investors and hedge funds own 41.70% of the company’s stock.
Alphabet Trading Down 2.5 %
Shares of NASDAQ:GOOGL opened at $117.21 on Monday. The company has a 50 day moving average of $156.18 and a 200-day moving average of $136.97. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt-to-equity ratio of 0.06. The firm has a market cap of $1.54 trillion, a P/E ratio of 21.81, a P/E/G ratio of 1.90 and a beta of 1.08. Alphabet Inc. has a twelve month low of $101.88 and a twelve month high of $151.55.
Alphabet (NASDAQ:GOOGL – Get Rating) last announced its earnings results on Tuesday, July 26th. The information services provider reported $1.21 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.11). Alphabet had a return on equity of 28.65% and a net margin of 25.89%. During the same period in the prior year, the firm posted $27.26 EPS. As a group, analysts anticipate that Alphabet Inc. will post 5.2 earnings per share for the current fiscal year.
In other news, Director Ann Mather sold 20 shares of the firm’s stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $2,383.32, for a total transaction of $47,666.40. Following the completion of the transaction, the director now owns 565 shares in the company, valued at approximately $1,346,575.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Alphabet news, Director Ann Mather sold 20 shares of the company’s stock in a transaction on Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total value of $47,666.40. Following the transaction, the director now owns 565 shares of the company’s stock, valued at $1,346,575.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 33 shares of the stock in a transaction on Thursday, June 9th. The shares were sold at an average price of $2,348.39, for a total value of $77,496.87. Following the sale, the director now owns 78 shares of the company’s stock, valued at approximately $183,174.42. The disclosure for this sale can be found here. Insiders sold a total of 42,852 shares of company stock worth $15,750,955 over the last 90 days. 11.44% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on GOOGL shares. Rosenblatt Securities lowered their price target on shares of Alphabet from $205.00 to $154.00 and set a “buy” rating for the company in a report on Monday, July 25th. KeyCorp dropped their target price on Alphabet from $153.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 26th. Mizuho reduced their price target on Alphabet from $175.00 to $150.00 and set a “buy” rating for the company in a report on Friday, July 22nd. Morgan Stanley lifted their price objective on Alphabet from $140.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, July 27th. Finally, Truist Financial reduced their target price on Alphabet from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, July 27th. Five research analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.36.
Alphabet Company Profile
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 Bets 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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