Rollins Financial boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 15.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 932 shares of the information services provider’s stock after purchasing an additional 125 shares during the quarter. Alphabet accounts for about 0.8% of Rollins Financial’s investment portfolio, making the stock its 19th biggest holding. Rollins Financial’s holdings in Alphabet were worth $2,592,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of GOOGL. Morling Financial Advisors LLC bought a new position in Alphabet in the fourth quarter valued at approximately $29,000. West Bancorporation Inc. bought a new position in Alphabet in the fourth quarter valued at approximately $29,000. Wealthgate Family Office LLC bought a new stake in shares of Alphabet in the fourth quarter worth $32,000. NS Partners Ltd bought a new stake in shares of Alphabet in the fourth quarter worth $41,000. Finally, AHL Investment Management Inc. bought a new stake in shares of Alphabet in the fourth quarter worth $46,000. Institutional investors own 41.70% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have recently commented on the stock. Moffett Nathanson cut their price objective on shares of Alphabet to $132.50 in a research report on Thursday, May 26th. Mizuho cut their price objective on shares of Alphabet from $175.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday, July 22nd. Wedbush cut their price objective on shares of Alphabet from $190.00 to $155.65 in a research report on Wednesday, April 27th. JPMorgan Chase & Co. cut their price objective on shares of Alphabet from $160.00 to $140.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 29th. Finally, Stifel Nicolaus set a $155.00 price objective on shares of Alphabet in a research report on Monday, July 18th. Five 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $147.36.
Alphabet Trading Down 0.6 %
Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings data on Tuesday, July 26th. The information services provider reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 quarter last year, the company earned $27.26 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 5.22 earnings per share for the current year.
Insiders Place Their Bets
In other Alphabet news, Director Ann Mather sold 20 shares of the 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 sale, the director now directly owns 565 shares in the company, valued at $1,346,575.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider John Kent Walker sold 34,799 shares of the stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $118.25, for a total value of $4,114,981.75. Following the completion of the transaction, the insider now owns 18,484 shares of the company’s stock, valued at $2,185,733. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ann Mather sold 20 shares of the stock in a transaction dated Monday, June 27th. The stock was 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 of the company’s stock, valued at approximately $1,346,575.80. The disclosure for this sale can be found here. Insiders have sold 42,383 shares of company stock worth $15,761,666 over the last ninety days. Corporate insiders own 11.44% of the company’s stock.
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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