Magnolia Capital Advisors LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 12.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 17,864 shares of the information services provider’s stock after buying an additional 1,930 shares during the period. Alphabet accounts for approximately 2.0% of Magnolia Capital Advisors LLC’s holdings, making the stock its 13th biggest holding. Magnolia Capital Advisors LLC’s holdings in Alphabet were worth $2,706,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Coastline Trust Co raised its holdings in Alphabet by 3.5% in the third quarter. Coastline Trust Co now owns 148,082 shares of the information services provider’s stock valued at $19,378,000 after buying an additional 4,967 shares during the period. DeDora Capital Inc. increased its position in shares of Alphabet by 1.5% in the third quarter. DeDora Capital Inc. now owns 22,398 shares of the information services provider’s stock worth $2,931,000 after acquiring an additional 339 shares in the last quarter. Galvin Gaustad & Stein LLC raised its stake in shares of Alphabet by 26.1% in the 3rd quarter. Galvin Gaustad & Stein LLC now owns 56,032 shares of the information services provider’s stock valued at $7,332,000 after acquiring an additional 11,582 shares during the period. Syntegra Private Wealth Group LLC lifted its holdings in shares of Alphabet by 7.8% during the 3rd quarter. Syntegra Private Wealth Group LLC now owns 2,901 shares of the information services provider’s stock valued at $380,000 after acquiring an additional 210 shares in the last quarter. Finally, Goldstein Advisors LLC lifted its holdings in shares of Alphabet by 1.0% during the 3rd quarter. Goldstein Advisors LLC now owns 10,511 shares of the information services provider’s stock valued at $1,375,000 after acquiring an additional 106 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.
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Insider Buying and Selling
In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $136.49, for a total transaction of $93,086.18. Following the completion of the transaction, the chief accounting officer now owns 28,602 shares in the company, valued at approximately $3,903,886.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total value of $3,753,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,280,511 shares in the company, valued at $380,389,234.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $136.49, for a total value of $93,086.18. Following the sale, the chief accounting officer now directly owns 28,602 shares in the company, valued at approximately $3,903,886.98. The disclosure for this sale can be found here. Insiders sold 275,129 shares of company stock valued at $40,382,765 in the last three months. 0.88% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Several research analysts have commented on GOOGL shares. Loop Capital raised their price objective on Alphabet from $155.00 to $170.00 and gave the company a “hold” rating in a research report on Wednesday. Wolfe Research raised their target price on Alphabet from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Argus upped their price target on Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday. Raymond James increased their price objective on shares of Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Finally, Oppenheimer boosted their target price on shares of Alphabet from $185.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.60.
View Our Latest Stock Analysis on Alphabet
Alphabet Stock Performance
GOOGL stock opened at $166.62 on Friday. Alphabet Inc. has a 1 year low of $103.97 and a 1 year high of $174.71. The stock has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 25.56, a PEG ratio of 1.26 and a beta of 1.02. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.15. The stock’s fifty day moving average is $149.67 and its two-hundred day moving average is $142.12.
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.40. The firm had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same period last year, the firm posted $1.17 EPS. On average, research analysts predict that Alphabet Inc. will post 7.54 EPS for the current year.
Alphabet Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Monday, June 10th.
Alphabet Company Profile
(Free Report)
Alphabet Inc offers 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 provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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