Ropes Wealth Advisors LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 18.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,105 shares of the information services provider’s stock after purchasing an additional 334 shares during the quarter. Ropes Wealth Advisors LLC’s holdings in Alphabet were worth $4,860,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Mascoma Wealth Management LLC acquired a new position in Alphabet in the 1st quarter valued at $27,000. Better Money Decisions LLC bought a new stake in Alphabet in the 1st quarter valued at $27,000. Resolute Partners Group bought a new stake in Alphabet in the 4th quarter valued at $26,000. Brand Asset Management Group Inc. boosted its holdings in Alphabet by 200.0% in the 1st quarter. Brand Asset Management Group Inc. now owns 15 shares of the information services provider’s stock valued at $31,000 after purchasing an additional 10 shares during the period. Finally, Total Clarity Wealth Management Inc. bought a new stake in Alphabet in the 1st quarter valued at $31,000. Institutional investors and hedge funds own 31.73% of the company’s stock.
In other Alphabet news, Director Sergey Brin sold 13,889 shares of the firm’s stock in a transaction dated Monday, May 10th. The shares were sold at an average price of $2,301.36, for a total value of $31,963,589.04. Following the completion of the sale, the director now owns 13,889 shares in the company, valued at approximately $31,963,589.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 30 shares of the firm’s stock in a transaction dated Monday, April 5th. The shares were sold at an average price of $2,152.94, for a total transaction of $64,588.20. Following the completion of the sale, the chief accounting officer now owns 966 shares of the company’s stock, valued at approximately $2,079,740.04. The disclosure for this sale can be found here. Insiders sold a total of 57,998 shares of company stock valued at $132,704,290 in the last 90 days. Corporate insiders own 12.99% of the company’s stock.
Alphabet (NASDAQ:GOOG) last announced its earnings results on Monday, April 26th. The information services provider reported $26.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $15.74 by $10.55. The business had revenue of $55.30 billion during the quarter, compared to analysts’ expectations of $51.40 billion. Alphabet had a net margin of 26.11% and a return on equity of 23.54%. The firm’s revenue for the quarter was up 34.4% on a year-over-year basis. During the same quarter last year, the company posted $9.87 EPS. On average, equities research analysts expect that Alphabet Inc. will post 89.46 EPS for the current fiscal year.
A number of analysts have weighed in on the stock. Evercore ISI reissued an “outperform” rating and issued a $2,525.00 price target on shares of Alphabet in a report on Tuesday, April 13th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Alphabet in a report on Wednesday, April 28th. Barclays reissued a “buy” rating on shares of Alphabet in a report on Wednesday, April 28th. Oppenheimer raised their price objective on shares of Alphabet from $2,350.00 to $2,510.00 and gave the stock an “outperform” rating in a report on Monday, April 26th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, April 28th. Three investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $2,495.63.
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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