Comerica Bank reduced its stake in shares of Alphabet Inc. (NASDAQ: GOOGL – Get Rating) by 2.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 45,155 shares of the information services provider’s stock after selling 1,058 shares during the quarter. Alphabet makes up approximately 0.8% of Comerica Bank’s portfolio, making the stock its 8th largest position. Comerica Bank’s holdings in Alphabet were worth $ 114,636,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the stock. Wagner Wealth Management LLC increased its stake in shares of Alphabet by 4.5% during the third quarter. Wagner Wealth Management LLC now owns 92 shares of the information services provider’s stock worth $ 272,000 after acquiring an additional 4 shares during the period. Boltwood Capital Management increased its stake in shares of Alphabet by 0.3% during the fourth quarter. Boltwood Capital Management now owns 1,333 shares of the information services provider’s stock worth $ 3,862,000 after acquiring an additional 4 shares during the period. Latitude Advisors LLC increased its stake in shares of Alphabet by 0.4% during the fourth quarter. Latitude Advisors LLC now owns 1,108 shares of the information services provider’s stock worth $ 3,210,000 after acquiring an additional 4 shares during the period. Brave Asset Management Inc. grew its position in Alphabet by 0.6% during the fourth quarter. Brave Asset Management Inc. now owns 628 shares of the information services provider’s stock worth $ 1,819,000 after buying an additional 4 shares during the period. Finally, Smithbridge Asset Management Inc. DE increased its holdings in Alphabet by 1.5% in the fourth quarter. Smithbridge Asset Management Inc. DE now owns 263 shares of the information services provider’s stock valued at $ 762,000 after buying an additional 4 shares in the last quarter. Institutional investors and hedge funds own 41.70% of the company stock.
In other Alphabet news, Director John L. Hennessy sold 33 shares of the firm’s stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $ 2,348.39, for a total value of $ 77,496.87. Following the sale, the director now directly owns 78 shares of the company stock, valued at $ 183,174.42. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 490 shares of Alphabet stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $ 2,335.30, for a total value of $ 1,144,297.00. Following the transaction, the senior vice president now owns 497 shares in the company, valued at approximately $ 1,160,644.10. 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. Corporate insiders own 11.44% of the company stock.
NASDAQ GOOGL opened at $ 2,195.29 on Thursday. Alphabet Inc. has a 52 week low of $ 2,037.69 and a 52 week high of $ 3,030.93. The company has a market cap of $ 1.45 trillion, a PE ratio of 19.86, a price-to-earnings-growth ratio of 1.05 and a beta of 1.13. The company has a quick ratio of 2.85, a current ratio of 2.87 and a debt-to-equity ratio of 0.06. The firm’s 50-day simple moving average is $ 2,345.35 and its two-hundred day simple moving average is $ 2,622.03.
Alphabet shares are set to split before the market opens on Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly issued shares will be distributed to shareholders after the market closes on Friday, July 15th.
Alphabet (NASDAQ: GOOGL – Get Rating) last released its quarterly earnings results on Tuesday, April 26th. The information services provider reported $ 24.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $ 25.51 by ($ 0.89). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. During the same period in the prior year, the company earned $ 26.29 EPS. As a group, equities research analysts anticipate that Alphabet Inc. will post 111.86 EPS for the current year.
A number of equities research analysts have commented on GOOGL shares. Wedbush lowered their target price on Alphabet from $ 3,800.00 to $ 3,113.00 in a report on Wednesday, April 27th. Morgan Stanley cut their price target on Alphabet from $ 3,270.00 to $ 3,000.00 in a report on Wednesday, June 1st. BMO Capital Markets lowered their price objective on shares of Alphabet from $ 3,300.00 to $ 3,000.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 27th. Tigress Financial lifted their target price on shares of Alphabet from $ 3,540.00 to $ 3,670.00 and gave the company a “strong-buy” rating in a research note on Friday, March 18th. Finally, Jefferies Financial Group reduced their price objective on shares of Alphabet from $ 3,400.00 to $ 3,100.00 in a research note on Tuesday, May 24th. One analyst has rated the stock with a hold rating, thirty-four have issued a buy rating and one has assigned a strong buy rating to the company stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $ 3,323.54.
Alphabet Company Profile: (Get Rating)
Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, 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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