Sawgrass Asset Management LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,791.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 196,430 shares of the information services provider’s stock after acquiring an additional 186,043 shares during the quarter. Alphabet makes up approximately 2.7% of Sawgrass Asset Management LLC’s holdings, making the stock its 6th biggest position. Sawgrass Asset Management LLC’s holdings in Alphabet were worth $18,789,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in GOOGL. Massachusetts Financial Services Co. MA grew its stake in shares of Alphabet by 1,955.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 61,134,061 shares of the information services provider’s stock valued at $5,847,474,000 after acquiring an additional 58,159,150 shares during the period. Fisher Asset Management LLC grew its stake in shares of Alphabet by 1,928.6% during the 3rd quarter. Fisher Asset Management LLC now owns 42,474,883 shares of the information services provider’s stock valued at $4,062,723,000 after acquiring an additional 40,381,114 shares during the period. Jennison Associates LLC grew its stake in shares of Alphabet by 1,690.3% during the 3rd quarter. Jennison Associates LLC now owns 26,231,920 shares of the information services provider’s stock valued at $2,509,083,000 after acquiring an additional 24,766,730 shares during the period. Alecta Tjanstepension Omsesidigt grew its stake in shares of Alphabet by 1,900.0% during the 3rd quarter. Alecta Tjanstepension Omsesidigt now owns 19,286,000 shares of the information services provider’s stock valued at $1,845,092,000 after acquiring an additional 18,321,700 shares during the period. Finally, Barclays PLC lifted its holdings in Alphabet by 2,462.1% in the 3rd quarter. Barclays PLC now owns 18,694,427 shares of the information services provider’s stock worth $1,788,124,000 after purchasing an additional 17,964,785 shares in the last quarter. 34.06% of the stock is currently owned by institutional investors.
Alphabet Stock Performance
Shares of Alphabet stock opened at $89.87 on Tuesday. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $143.79. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06. The stock’s fifty day moving average is $93.45 and its two-hundred day moving average is $98.22. The company has a market capitalization of $1.15 trillion, a PE ratio of 19.75, a price-to-earnings-growth ratio of 1.23 and a beta of 1.08.
Wall Street Analyst Weigh In
A number of research analysts recently commented on the company. New Street Research assumed coverage on Alphabet in a report on Wednesday, January 4th. They issued a “buy” rating and a $118.00 price target on the stock. Credit Suisse Group lowered their price target on Alphabet from $145.00 to $136.00 and set an “outperform” rating on the stock in a report on Friday, February 3rd. Loop Capital boosted their price target on Alphabet from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, February 8th. Mizuho lowered their price target on Alphabet from $140.00 to $135.00 and set a “buy” rating on the stock in a report on Wednesday, November 30th. Finally, Bank of America boosted their price target on Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a report on Tuesday, January 31st. Five investment analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $132.32.
Insider Transactions at Alphabet
In other news, CAO Amie Thuener O’toole sold 637 shares of the stock in a transaction on Wednesday, February 1st. The stock was sold at an average price of $99.87, for a total transaction of $63,617.19. Following the transaction, the chief accounting officer now owns 25,282 shares of the company’s stock, valued at approximately $2,524,913.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Prabhakar Raghavan sold 22,203 shares of the company’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the completion of the sale, the senior vice president now directly owns 76,579 shares in the company, valued at approximately $6,872,965.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 637 shares of the company’s stock in a transaction on Wednesday, February 1st. The stock was sold at an average price of $99.87, for a total value of $63,617.19. Following the sale, the chief accounting officer now owns 25,282 shares of the company’s stock, valued at $2,524,913.34. 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. 11.44% of the stock is currently owned by corporate insiders.
About Alphabet
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.
Featured Stories
- Get a free copy of the StockNews.com research report on Alphabet (GOOGL)
- Reserve Your Spot With These Hotels The Analysts Support
- Cruise Line Stocks Still Have Some Choppy Waters to Navigate
- Four Vegan Food Stocks Performing Beyond the Norm
- Ocean Interest Electrifies Fisker Stock
- Is Freshpet Ready For A Fresh Rally?
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.
