Highland Capital Management LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOG – Get a rating) by 0.1% in the first quarter, according to the company in its latest 13F filing with the Securities & Exchange Commission. The fund held 11,796 shares of the information services provider after buying 14 additional shares during the period. Alphabet represents 2.0% of Highland Capital Management LLC’s portfolio, making the stock its 5th largest position. Highland Capital Management LLC’s holdings in Alphabet were worth $32,946,000 at the end of the last quarter.
Several other institutional investors and hedge funds have also recently changed their stakes in GOOG. Hoese & Co LLP increased its position in Alphabet shares by 400.0% during the 4th quarter. Hoese & Co LLP now owns 10 shares of the information services provider worth $29,000 after buying 8 additional shares in the last quarter. Maryland Capital Advisors Inc. acquired a new position in Alphabet during Q4 worth approximately $29,000. Paragon Capital Management Ltd bought a new position in shares of Alphabet during the fourth quarter for a value of approximately $35,000. Rather & Kittrell Inc. bought a new position in Alphabet in Q4 worth approximately $34,000. Finally, Comprehensive Financial Consultants Institutional Inc. acquired a new stake in Alphabet during the 4th quarter at a value of $37,000. Institutional investors hold 31.20% of the company’s shares.
Several equity analysts have commented on GOOG stocks. Deutsche Bank Aktiengesellschaft lowered its price target on Alphabet shares from $3,150.00 to $2,900.00 in a Wednesday, April 27 research note. Canaccord Genuity Group reduced its price target on Alphabet from $3,500.00 to $3,300.00 and set a “buy” rating for the company in a Wednesday, April 27 research note. Oppenheimer reissued an “outperform” rating and posted a $3,290.00 price target on Alphabet shares in a research note on Thursday, April 28. JPMorgan Chase & Co. reduced its price target on Alphabet from $3,450.00 to $3,200.00 in a Wednesday, April 27 research note. Finally, Raymond James lowered his price target on Alphabet shares from $3,630.00 to $3,180.00 in a Wednesday, April 27 research report. Twenty-nine equity research analysts rated the stock with a buy rating. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $3,315.38.
GOOG NASDAQ opened at $2,187.45 on Friday. Alphabet Inc. has a fifty-two week low of $2,044.16 and a fifty-two week high of $3,042.00. The stock’s 50-day moving average is $2,274.34 and its two-hundred-day moving average is $2,576.27. The company has a market capitalization of $1.44 trillion, a P/E ratio of 19.79, a price-to-earnings growth ratio of 1.16 and a beta of 1.13. The company has a debt ratio of 0.06, a current ratio of 2.87 and a quick ratio of 2.85.
Alphabet shares are to be split on the morning of Monday, July 18. The 20-1 split was announced on Tuesday, February 1. The newly created shares will be payable to shareholders after the closing bell on Friday July 15.
Alphabet (NASDAQ:GOOG – Get a rating) last released its results on Tuesday, April 26. The information services provider reported earnings per share of $24.62 for the quarter, missing the consensus estimate of $25.70 per ($1.08). Alphabet had a return on equity of 30.18% and a net margin of 27.57%. The company posted revenue of $56.02 billion in the quarter, versus analyst estimates of $56.17 billion. In the same quarter last year, the company posted earnings per share of $26.29. On average, stock analysts expect Alphabet Inc. to post EPS of 110.83 for the current year.
In other Alphabet news, please Prabhakar Raghavan sold 1,276 shares of the company in a trade on Monday, April 4. The shares were sold at an average price of $2,816.49, for a total transaction of $3,593,841.24. Following the completion of the transaction, the senior vice president now owns 14,034 shares of the company, valued at approximately $39,526,620.66. The transaction was disclosed in a document filed with the SEC, accessible via this hyperlink. Additionally, 2016 major shareholder Gp LLC Gv sold 544,249 shares of the company in a transaction on Monday, April 11. The stock was sold at an average price of $11.16, for a total transaction of $6,073,818.84. Disclosure of this sale can be found here. In the past three months, insiders have sold 551,653 shares of the company valued at $25,497,486. Insiders of the company own 12.99% of the shares of the company.
Alphabet Company Profile (Get a 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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