Adams Diversified Equity Fund Inc. increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 10.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 45,800 shares of the information services provider's stock after buying an additional 4,300 shares during the quarter. Alphabet accounts for about 5.1% of Adams Diversified Equity Fund Inc.'s holdings, making the stock its 3rd biggest holding. Adams Diversified Equity Fund Inc.'s holdings in Alphabet were worth $127,386,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. HHM Wealth Advisors LLC increased its stake in shares of Alphabet by 3.9% in the first quarter. HHM Wealth Advisors LLC now owns 485 shares of the information services provider's stock valued at $1,349,000 after buying an additional 18 shares during the period. Armstrong Henry H Associates Inc. increased its stake in shares of Alphabet by 1.5% in the first quarter. Armstrong Henry H Associates Inc. now owns 1,786 shares of the information services provider's stock valued at $4,967,000 after buying an additional 26 shares during the period. Iowa State Bank increased its stake in shares of Alphabet by 7.3% in the first quarter. Iowa State Bank now owns 2,348 shares of the information services provider's stock valued at $6,531,000 after buying an additional 160 shares during the period. Lee Danner & Bass Inc. increased its stake in shares of Alphabet by 41.9% in the first quarter. Lee Danner & Bass Inc. now owns 914 shares of the information services provider's stock valued at $2,542,000 after buying an additional 270 shares during the period. Finally, Financial Management Professionals Inc. grew its stake in Alphabet by 45.2% during the first quarter. Financial Management Professionals Inc. now owns 180 shares of the information services provider's stock worth $501,000 after purchasing an additional 56 shares during the period. 41.70% of the stock is currently owned by institutional investors.
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Insider Buying and Selling
In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv bought 13,528 shares of the company's stock in a transaction that occurred on Tuesday, May 24th. The shares were purchased at an average cost of $33.72 per share, for a total transaction of $456,164.16. Following the purchase, the insider now directly owns 593,402 shares in the company, valued at $20,009,515.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, CAO Amie Thuener O'toole sold 42 shares of the business's stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $2,335.30, for a total transaction of $98,082.60. Following the sale, the chief accounting officer now owns 1,170 shares in the company, valued at approximately $2,732,301. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv purchased 13,528 shares of the company's stock in a transaction on Tuesday, May 24th. The shares were purchased at an average price of $33.72 per share, for a total transaction of $456,164.16. Following the purchase, the insider now owns 593,402 shares in the company, valued at approximately $20,009,515.44. The disclosure for this purchase can be found here. Insiders have sold a total of 5,739 shares of company stock worth $12,616,323 in the last ninety days. 11.44% of the stock is owned by insiders.
Alphabet Stock Performance
Shares of NASDAQ:GOOGL opened at $109.03 on Tuesday. Alphabet Inc. has a 52 week low of $101.88 and a 52 week high of $151.55. The firm has a 50 day moving average of $154.72 and a 200 day moving average of $140.51. 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 company has a market capitalization of $71.80 billion, a price-to-earnings ratio of 0.99, a price-to-earnings-growth ratio of 1.11 and a beta of 1.10.
Alphabet (NASDAQ:GOOGL – Get Rating) last announced its earnings results on Tuesday, April 26th. The information services provider reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.05). Alphabet had a return on equity of 30.18% and a net margin of 27.57%. The business had revenue of $56.02 billion for the quarter, compared to analysts' expectations of $56.17 billion. During the same quarter last year, the firm earned $1.31 earnings per share. On average, sell-side analysts predict that Alphabet Inc. will post 109.34 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
GOOGL has been the subject of several recent analyst reports. Barclays decreased their target price on Alphabet from $160.00 to $150.00 and set an "overweight" rating for the company in a research note on Tuesday, July 5th. MKM Partners reduced their price objective on Alphabet from $165.00 to $140.00 and set a "buy" rating for the company in a research note on Monday. Truist Financial dropped their target price on Alphabet from $180.00 to $175.00 and set a "buy" rating on the stock in a report on Wednesday, April 27th. JMP Securities dropped their target price on Alphabet from $165.00 to $160.00 and set a "market outperform" rating on the stock in a report on Thursday, June 30th. Finally, Moffett Nathanson dropped their price target on Alphabet to $132.50 in a report on Thursday, May 26th. One research analyst has rated the stock with a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $161.54.
Alphabet Company 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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