Nisa Investment Advisors LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 13.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 97,577 shares of the information services provider’s stock after selling 15,556 shares during the period. Alphabet accounts for approximately 1.9% of Nisa Investment Advisors LLC’s holdings, making the stock its 6th biggest position. Nisa Investment Advisors LLC’s holdings in Alphabet were worth $271,396,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Morling Financial Advisors LLC acquired a new position in Alphabet during the 4th quarter valued at about $29,000. West Bancorporation Inc. bought a new stake in shares of Alphabet during the 4th quarter worth about $29,000. Wealthgate Family Office LLC bought a new stake in shares of Alphabet during the 4th quarter worth about $32,000. NS Partners Ltd bought a new stake in shares of Alphabet during the 4th quarter worth about $41,000. Finally, Schubert & Co bought a new stake in shares of Alphabet during the 4th quarter worth about $43,000. 41.70% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Alphabet
In related news, Director Ann Mather sold 20 shares of the company’s stock in a transaction on 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 directly owns 565 shares in the company, valued at approximately $1,346,575.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv acquired 13,528 shares of the company’s stock in a transaction dated Tuesday, May 24th. The stock was bought at an average price of $33.72 per share, for a total transaction of $456,164.16. Following the purchase, the insider now owns 593,402 shares in the company, valued at approximately $20,009,515.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ann Mather sold 20 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $1,346,575.80. The disclosure for this sale can be found here. Insiders sold a total of 5,739 shares of company stock worth $12,616,323 in the last ninety days. 11.44% of the stock is currently owned by insiders.
Analyst Ratings Changes
A number of research firms have commented on GOOGL. BNP Paribas downgraded shares of Alphabet from an “outperform” rating to a “neutral” rating and set a $118.00 price target on the stock. in a research report on Wednesday. MKM Partners dropped their target price on shares of Alphabet from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, July 18th. Wedbush dropped their target price on shares of Alphabet from $190.00 to $155.65 in a report on Wednesday, April 27th. JPMorgan Chase & Co. dropped their target price on shares of Alphabet from $160.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, June 29th. Finally, Citigroup dropped their target price on shares of Alphabet from $158.75 to $145.00 in a report on Thursday, July 14th. Three investment analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $158.36.
Alphabet Price Performance
Shares of Alphabet stock opened at $107.90 on Friday. The firm has a fifty day simple moving average of $154.58 and a 200-day simple moving average of $139.69. The company has a current ratio of 2.87, a quick ratio of 2.85 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 1-year low of $101.88 and a 1-year high of $151.55. The stock has a market capitalization of $1.42 trillion, a price-to-earnings ratio of 19.52, a PEG ratio of 1.18 and a beta of 1.10.
Alphabet (NASDAQ:GOOGL – Get Rating) last released its earnings results on Tuesday, April 26th. The information services provider reported $1.23 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.05). The company had revenue of $56.02 billion for the quarter, compared to analyst estimates of $56.17 billion. Alphabet had a net margin of 27.57% and a return on equity of 30.18%. During the same quarter in the previous year, the company earned $1.31 earnings per share. On average, sell-side analysts expect that Alphabet Inc. will post 5.4 earnings per share for the current year.
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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