Salvus Wealth Management LLC lowered its position in shares of Alphabet Inc. (NASDAQ: GOOGL – Get Rating) by 32.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 141 shares of the information services provider’s stock after selling 68 shares during the quarter. Salvus Wealth Management LLC’s holdings in Alphabet were worth $ 392,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. Morling Financial Advisors LLC acquired a new position in shares of Alphabet in the 4th quarter valued at $ 29,000. West Bancorporation Inc. acquired a new position in shares of Alphabet in the 4th quarter valued at $ 29,000. Wealthgate Family Office LLC acquired a new position in shares of Alphabet in the 4th quarter valued at $ 32,000. NS Partners Ltd acquired a new position in shares of Alphabet in the 4th quarter valued at $ 41,000. Finally, Schubert & Co acquired a new position in shares of Alphabet in the 4th quarter valued at $ 43,000. 41.70% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ: GOOGL opened at $ 2,229.75 on Thursday. Alphabet Inc. has a 1-year low of $ 2,037.69 and a 1-year high of $ 3,030.93. The firm has a market capitalization of $ 1.47 trillion, a PE ratio of 20.17, a PEG ratio of 1.05 and a beta of 1.13. The business’s 50 day moving average is $ 2,300.45 and its 200-day moving average is $ 2,598.40. The company has a current ratio of 2.87, a quick ratio of 2.85 and a debt-to-equity ratio of 0.06.
Alphabet’s stock is going to split before the market opens on Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly created shares will be issued to shareholders after the closing bell on Friday, July 15th.
Alphabet (NASDAQ: GOOGL – Get Rating) last announced its quarterly earnings data on Tuesday, April 26th. The information services provider reported $ 24.62 earnings per share for the quarter, missing the consensus estimate of $ 25.70 by ($ 1.08). Alphabet had a return on equity of 30.18% and a net margin of 27.57%. The firm had revenue of $ 56.02 billion for the quarter, compared to analyst estimates of $ 56.17 billion. During the same period in the previous year, the business posted $ 26.29 EPS. On average, sell-side analysts predict that Alphabet Inc. will post 110.83 EPS for the current year.
In related news, Director Ann Mather sold 21 shares of the business’s stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $ 2,102.84, for a total value of $ 44,159.64. Following the sale, the director now owns 565 shares of the company’s stock, valued at approximately $ 1,188,104.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 31 shares of the business’s stock in a transaction on Monday, May 9th. The shares were sold at an average price of $ 2,280.98, for a total value of $ 70,710.38. Following the completion of the sale, the director now directly owns 265 shares in the company, valued at approximately $ 604,459.70. The disclosure for this sale can be found here. Insiders have sold a total of 550,357 shares of company stock worth $ 21,855,978 in the last three months. 11.44% of the stock is owned by insiders.
GOOGL has been the subject of several research analyst reports. StockNews.com downgraded Alphabet from a “buy” rating to a “hold” rating in a research note on Friday, April 29th. Guggenheim reduced their price objective on Alphabet from $ 3,350.00 to $ 3,000.00 in a research note on Wednesday, April 27th. Piper Sandler reduced their price objective on Alphabet from $ 2,900.00 to $ 2,775.00 and set an “overweight” rating for the company in a research note on Thursday, June 2nd. Jefferies Financial Group reduced their price objective on Alphabet from $ 3,400.00 to $ 3,100.00 in a research note on Tuesday, May 24th. Finally, BMO Capital Markets reduced their price objective on Alphabet from $ 3,300.00 to $ 3,000.00 and set an “outperform” rating for the company in a research note on Wednesday, April 27th. One equities research analyst has rated the stock with a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $ 3,297.86.
Alphabet Profile (Get Rating)
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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