Hemington Wealth Management Increases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Hemington Wealth Management raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 43.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 317 shares of the information services provider’s stock after buying an additional 96 shares during the period. Hemington Wealth Management’s holdings in Alphabet were worth $882,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. International Assets Investment Management LLC increased its stake in shares of Alphabet by 6.1% in the 4th quarter. International Assets Investment Management LLC now owns 3,356 shares of the information services provider’s stock worth $9,717,000 after purchasing an additional 192 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in shares of Alphabet by 8.6% in the 4th quarter. Qube Research & Technologies Ltd now owns 21,839 shares of the information services provider’s stock worth $63,268,000 after purchasing an additional 1,731 shares in the last quarter. BCGM Wealth Management LLC purchased a new stake in shares of Alphabet in the 4th quarter worth $304,000. Grimes & Company Inc. increased its stake in shares of Alphabet by 1.2% in the 4th quarter. Grimes & Company Inc. now owns 7,644 shares of the information services provider’s stock worth $22,144,000 after purchasing an additional 87 shares in the last quarter. Finally, Morningstar Investment Services LLC increased its stake in shares of Alphabet by 4.5% in the 4th quarter. Morningstar Investment Services LLC now owns 117,220 shares of the information services provider’s stock worth $339,779,000 after purchasing an additional 5,058 shares in the last quarter. 41.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Stifel Nicolaus set a $155.00 price objective on Alphabet in a research note on Monday, July 18th. Exane BNP Paribas lowered Alphabet from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 20th. Wolfe Research cut their price target on Alphabet from $175.00 to $145.00 and set an “outperform” rating for the company in a research note on Wednesday, April 27th. Guggenheim cut their price target on Alphabet to $130.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. Finally, BNP Paribas lowered Alphabet from an “outperform” rating to a “neutral” rating and set a $118.00 price target for the company. in a research note on Wednesday, July 20th. Five research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $147.36.

Alphabet Stock Down 0.6 %

Shares of NASDAQ GOOGL opened at $117.47 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 2.78. The company has a market cap of $1.55 trillion, a P/E ratio of 21.85, a PEG ratio of 1.91 and a beta of 1.08. Alphabet Inc. has a 1 year low of $101.88 and a 1 year high of $151.55. The firm has a 50-day simple moving average of $155.27 and a two-hundred day simple moving average of $137.96.

Alphabet (NASDAQ:GOOGLGet 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 the consensus estimate 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 in the prior year, the company posted $27.26 earnings per share. Research 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 firm’s stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $2,383.32, for a total value of $47,666.40. Following the completion of the sale, the director now owns 565 shares of the company’s stock, valued at $1,346,575.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Ann Mather sold 20 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 565 shares of the company’s stock, valued at $1,346,575.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 31 shares of the firm’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $2,280.98, for a total transaction of $70,710.38. Following the transaction, the director now directly owns 265 shares in the company, valued at $604,459.70. The disclosure for this sale can be found here. Insiders sold a total of 42,383 shares of company stock valued at $15,761,666 over the last 90 days. Insiders own 11.44% of the company’s stock.

Alphabet Profile

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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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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