Alphabet Inc. shares (NASDAQ:GOOGL) sold by CWA Asset Management Group LLC
CWA Asset Management Group LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 4.2% in the first quarter, according to its latest disclosure to the Securities & Exchange Commission. The fund held 1,517 shares of the information services provider after selling 66 shares during the period. CWA Asset Management Group LLC’s holdings in Alphabet were worth $4,219,000 when it last filed with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also changed their stakes in the company. Morling Financial Advisors LLC acquired a new stake in Alphabet stock in the fourth quarter worth approximately $29,000. West Bancorporation Inc. acquired a new stake in Alphabet during the fourth quarter valued at approximately $29,000. Wealthgate Family Office LLC acquired a new stake in Alphabet during the fourth quarter worth approximately $32,000. NS Partners Ltd acquired a new stake in Alphabet during the fourth quarter worth approximately $41,000. Finally, Schubert & Co acquired a new stake in Alphabet during the fourth quarter worth approximately $43,000. Institutional investors and hedge funds hold 41.70% of the company’s shares.
Separately, 2016 major shareholder Gp LLC Gv sold 544,249 shares of Alphabet in a transaction on Monday, April 11. The shares were sold at an average price of $11.16, for a total value of $6,073,818.84. The sale was disclosed in a legal filing with the SEC, accessible via this hyperlink. Additionally, SVP Philipp Schindler sold 3,834 shares of Alphabet in a trade on Tuesday, July 5. The shares were sold at an average price of $2,182.62, for a total transaction of $8,368,165.08. Following the completion of the transaction, the Senior Vice President now directly owns 12,676 shares of the company, valued at $27,666,891.12. The disclosure of this sale can be found here. Insiders sold a total of 555,362 shares of the company worth $32,765,727 in the past ninety days. Company insiders hold 11.44% of the company’s shares.
GOOGL stock opened at $2,387.07 on Friday. The company has a current ratio of 2.87, a quick ratio of 2.85 and a debt ratio of 0.06. Alphabet Inc. has a 12-month low of $2,037.69 and a 12-month high of $3,030.93. The company’s 50-day moving average is $2,256.40 and its two-hundred-day moving average is $2,545.69. The stock has a market capitalization of $1.57 trillion, a P/E ratio of 21.59, a PEG ratio of 1.12 and a beta of 1.10.
Alphabet shares will split before the market opens on Monday, July 18. The 20-1 split was announced on Tuesday, February 1. The newly created shares will be payable to shareholders after the closing bell on Friday July 15.
Alphabet (NASDAQ:GOOGL – Get Rating) last announced its results on Tuesday, April 26. The information services provider reported EPS of $24.62 for the quarter, missing analyst consensus estimates of $25.70 per ($1.08). The company posted revenue of $56.02 billion in the quarter, versus analyst estimates of $56.17 billion. Alphabet had a net margin of 27.57% and a return on equity of 30.18%. In the same period a year earlier, the company earned earnings per share of $26.29. On average, stock research analysts expect Alphabet Inc. to post earnings per share of 110.62 for the current year.
Several research companies have recently published reports on GOOGL. KeyCorp cut its price target on Alphabet shares from $3,400.00 to $3,075.00 and set an “overweight” rating for the company in a Wednesday, April 20 research report. Stifel Nicolaus lowered his price target on Alphabet shares from $3,500.00 to $3,100.00 and set a “buy” rating for the company in a Wednesday, April 27 research note. Wells Fargo & Company lowered its target price on Alphabet shares from $3,600.00 to $3,400.00 in a Wednesday, April 27 research note. Morgan Stanley lowered its target price on Alphabet shares from $3,270.00 to $3,000.00 in a Wednesday, June 1 research note. Finally, Piper Sandler lowered her price target on Alphabet shares from $2,900.00 to $2,775.00 and set an “overweight” rating for the company in a Thursday, June 2 research note. One equity research analyst gave the stock a hold rating, thirty-four issued a buy rating and one gave the company a strong buy rating. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Buy” and a consensus price target of $3,251.65.
Alphabet Company Profile (Get an evaluation)
Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, 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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