Alphabet Inc. (NASDAQ:GOOGL) shares sold by Ardevora Asset Management LLP

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Ardevora Asset Management LLP reduced its position in Alphabet Inc. shares (NASDAQ: GOOGLGet a rating) by 6.1% during the first quarter, Holdings Channel.com reports. The company held 25,180 shares of the information services provider after selling 1,634 shares during the period. Alphabet represents 0.9% of Ardevora Asset Management LLP’s investment portfolio, making the stock its 25th largest holding. Ardevora Asset Management LLP’s holdings in Alphabet were worth $70,034,000 at the end of the last reporting period.

A number of other hedge funds and other institutional investors also changed their positions in the company. Keybank National Association OH increased its stake in Alphabet shares by 2.2% in Q1. Keybank National Association OH now owns 174,746 shares of the information services provider worth $486,030,000 after purchasing 3,843 additional shares during the period. GHP Investment Advisors Inc. acquired a new stake in Alphabet in Q1 worth $3,485,000. Mr. Kraus & Co acquired a new stake in Alphabet in Q1 worth $563,000. tru Independence LLC increased its stake in Alphabet by 6.2% in Q1. tru Independence LLC now owns 256 shares of the information services provider valued at $711,000 after acquiring 15 additional shares during the period. Finally, Financial Consulate Inc. increased its stake in Alphabet by 9.1% in the 1st quarter. Financial Consulate Inc. now owns 239 shares of the information services provider worth $665,000 after buying 20 more shares in the last quarter. Institutional investors and hedge funds hold 41.70% of the company’s shares.

Alphabet trading up 0.4%

NASDAQ GOOGL opened at $114.34 on Friday. The company has a debt ratio of 0.06, a quick ratio of 2.85 and a current ratio of 2.87. The company has a market capitalization of $75.29 billion, a PE ratio of 20.68, a P/E/G ratio of 1.13 and a beta of 1.10. Alphabet Inc. has a one-year low of $101.88 and a one-year high of $151.55. The company’s fifty-day moving average is $154.75 and its two-hundred-day moving average is $139.93.

Alphabet (NASDAQ: GOOGLGet a rating) last released its quarterly earnings data on Tuesday, April 26. The information services provider reported EPS of $1.23 for the quarter, missing analyst consensus estimates of $1.28 per ($0.05). The company posted revenue of $56.02 billion in the quarter, versus analyst estimates of $56.17 billion. Alphabet had a net margin of 27.57% and a return on equity of 30.18%. In the same quarter a year earlier, the company posted earnings per share of $1.31. Analysts expect Alphabet Inc. to post earnings per share of 5.44 for the current year.

A Wall Street analyst gives his opinion

Several research companies have recently commented on GOOGL. JMP Securities cut its price target on Alphabet from $165.00 to $160.00 and set a “market outperformance” rating on the stock in a Thursday, June 30 report. Evercore ISI cut its price target on Alphabet from $175.00 to $165.00 and set an “outperform” rating on the stock in a Wednesday, April 27 report. Truist Financial cut its price target on Alphabet from $175.00 to $150.00 in a report on Tuesday. Exane BNP Paribas downgraded Alphabet from an “outperforming” rating to a “neutral” rating in a report released on Wednesday. Finally, Wolfe Research cut its price target on Alphabet from $175.00 to $145.00 and set an “outperform” rating on the stock in a Wednesday, April 27 report. Three analysts gave the stock a hold rating, thirty-four gave the stock a buy rating and one gave the stock a strong buy rating. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $159.02.

Insider buying and selling at Alphabet

In related news, please Prabhakar Raghavan sold 490 shares of the company in a trade dated Tuesday, May 3. The shares were sold at an average price of $2,335.30, for a total transaction of $1,144,297.00. Following the sale, the senior vice president now owns 497 shares of the company, valued at $1,160,644.10. The transaction was disclosed in a legal filing with the SEC, accessible via this link. In related news, please Prabhakar Raghavan sold 490 shares of the company in a trade dated Tuesday, May 3. The shares were sold at an average price of $2,335.30, for a total transaction of $1,144,297.00. Following the sale, the senior vice president now owns 497 shares of the company, valued at $1,160,644.10. The transaction was disclosed in a legal filing with the SEC, accessible via this link. Also, director Anne Mather sold 20 shares of the company in a transaction dated Monday, June 27. The stock was sold at an average price of $2,383.32, for a total transaction of $47,666.40. As a result of the sale, the administrator now directly owns 565 shares of the company, valued at approximately $1,346,575.80. Disclosure of this sale can be found here. In the past three months, insiders have sold 5,739 shares of the company worth $12,616,323. 11.44% of the shares are held by insiders 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.

Further reading

Want to see which other hedge funds hold GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ: GOOGLGet a rating).

Institutional ownership by quarter for Alphabet (NASDAQ:GOOGL)



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