BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 1,594.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 559,069 shares of the information services provider’s stock after acquiring an additional 526,075 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Alphabet were worth $53,754,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in GOOG. Polen Capital Management LLC increased its position in shares of Alphabet by 1,896.1% in the third quarter. Polen Capital Management LLC now owns 28,471,359 shares of the information services provider’s stock worth $2,737,521,000 after acquiring an additional 27,045,038 shares in the last quarter. Jennison Associates LLC grew its holdings in Alphabet by 1,736.4% during the 3rd quarter. Jennison Associates LLC now owns 23,253,198 shares of the information services provider’s stock valued at $2,235,795,000 after purchasing an additional 21,986,989 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Alphabet by 1,872.0% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 18,292,839 shares of the information services provider’s stock valued at $1,758,856,000 after purchasing an additional 17,365,189 shares in the last quarter. TD Asset Management Inc. grew its holdings in Alphabet by 1,863.4% during the 3rd quarter. TD Asset Management Inc. now owns 16,524,239 shares of the information services provider’s stock valued at $1,620,863,000 after purchasing an additional 15,682,616 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Alphabet by 1,966.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 14,818,151 shares of the information services provider’s stock valued at $1,424,954,000 after purchasing an additional 14,101,177 shares in the last quarter. Institutional investors and hedge funds own 28.69% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the stock. Piper Sandler lowered their price target on shares of Alphabet from $122.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, February 3rd. Jefferies Financial Group set a $125.00 price target on shares of Alphabet in a report on Friday, February 3rd. Roth Capital reissued a “buy” rating on shares of Alphabet in a report on Friday, February 3rd. Sanford C. Bernstein set a $130.00 price objective on shares of Alphabet in a report on Monday, February 6th. Finally, Cowen decreased their price objective on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating for the company in a report on Wednesday, January 11th. One equities research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $137.13.
Alphabet Trading Down 1.9 %
Alphabet (NASDAQ:GOOG – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.09). The firm had revenue of $76.05 billion during the quarter, compared to the consensus estimate of $76.49 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.53 earnings per share. Sell-side analysts anticipate that Alphabet Inc. will post 5.12 earnings per share for the current year.
Insider Buying and Selling at Alphabet
In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of the firm’s stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $101.13, for a total transaction of $86,466.15. Following the transaction, the chief accounting officer now owns 24,908 shares of the company’s stock, valued at approximately $2,518,946.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Ann Mather sold 380 shares of Alphabet stock in a transaction that occurred on Tuesday, December 27th. The shares were sold at an average price of $89.24, for a total value of $33,911.20. Following the transaction, the director now owns 11,300 shares of the company’s stock, valued at approximately $1,008,412. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $101.13, for a total transaction of $86,466.15. Following the completion of the transaction, the chief accounting officer now directly owns 24,908 shares in the company, valued at approximately $2,518,946.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,583 shares of company stock valued at $3,418,900. Company insiders own 12.99% of the company’s stock.
Alphabet Profile
Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.
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