Wedgewood Investors Inc. PA lowered its holdings in Alphabet Inc. (NASDAQ:GOOG) by 4.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 428 shares of the information services provider’s stock after selling 20 shares during the period. Alphabet comprises 1.1% of Wedgewood Investors Inc. PA’s portfolio, making the stock its 28th largest position. Wedgewood Investors Inc. PA’s holdings in Alphabet were worth $885,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Resolute Partners Group acquired a new stake in Alphabet during the fourth quarter valued at approximately $26,000. Mascoma Wealth Management LLC acquired a new stake in shares of Alphabet during the 1st quarter worth approximately $27,000. Brand Asset Management Group Inc. raised its position in shares of Alphabet by 200.0% during the 1st quarter. Brand Asset Management Group Inc. now owns 15 shares of the information services provider’s stock worth $31,000 after purchasing an additional 10 shares during the period. ADE LLC acquired a new stake in Alphabet in the 4th quarter valued at approximately $32,000. Finally, Carolina Wealth Advisors LLC increased its position in Alphabet by 50.0% in the 1st quarter. Carolina Wealth Advisors LLC now owns 18 shares of the information services provider’s stock valued at $37,000 after acquiring an additional 6 shares during the period. 31.94% of the stock is owned by hedge funds and other institutional investors.
Shares of GOOG stock traded down $73.57 on Tuesday, hitting $2,321.60. The stock had a trading volume of 30,319 shares, compared to its average volume of 1,562,912. Alphabet Inc. has a twelve month low of $1,299.00 and a twelve month high of $2,452.38. The firm has a market cap of $1.57 trillion, a P/E ratio of 46.28, a PEG ratio of 1.66 and a beta of 0.98. The company has a current ratio of 3.41, a quick ratio of 3.39 and a debt-to-equity ratio of 0.07. The company has a fifty day moving average price of $2,201.27 and a two-hundred day moving average price of $1,928.06.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Monday, April 26th. The information services provider reported $26.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $15.74 by $10.55. Alphabet had a net margin of 20.80% and a return on equity of 17.31%. The company had revenue of $55.30 billion during the quarter, compared to analyst estimates of $51.40 billion. During the same quarter in the previous year, the business earned $9.87 EPS. The firm’s revenue was up 34.4% on a year-over-year basis. On average, analysts expect that Alphabet Inc. will post 52.19 earnings per share for the current year.
Several analysts recently commented on the company. UBS Group restated a “buy” rating on shares of Alphabet in a research report on Wednesday, April 28th. Oppenheimer increased their price target on Alphabet from $2,350.00 to $2,510.00 and gave the company an “outperform” rating in a research note on Monday. Piper Sandler raised their price objective on Alphabet from $2,250.00 to $2,635.00 and gave the stock an “overweight” rating in a research note on Tuesday. Canaccord Genuity raised their target price on Alphabet from $2,400.00 to $2,600.00 and gave the stock a “buy” rating in a research report on Monday, April 26th. Finally, Cowen raised their target price on Alphabet from $2,600.00 to $2,700.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 28th. One investment analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $2,495.63.
In other Alphabet news, SVP Philipp Schindler sold 1,385 shares of the business’s stock in a transaction dated Monday, March 1st. The shares were sold at an average price of $2,056.52, for a total transaction of $2,848,280.20. Following the sale, the senior vice president now directly owns 1,200 shares of the company’s stock, valued at approximately $2,467,824. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP John Kent Walker sold 2,570 shares of the business’s stock in a transaction dated Monday, March 29th. The stock was sold at an average price of $2,037.34, for a total transaction of $5,235,963.80. Following the sale, the senior vice president now directly owns 26,707 shares in the company, valued at $54,411,239.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,131 shares of company stock valued at $43,393,845. Company insiders own 12.99% of the company’s stock.
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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