Howard Hughes Medical Institute boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 4,000.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 205,000 shares of the information services provider’s stock after purchasing an additional 200,000 shares during the quarter. Alphabet accounts for about 5.6% of Howard Hughes Medical Institute’s investment portfolio, making the stock its 2nd biggest holding. Howard Hughes Medical Institute’s holdings in Alphabet were worth $19,711,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Polen Capital Management LLC grew its stake 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 valued at $2,737,521,000 after buying an additional 27,045,038 shares in the last quarter. Jennison Associates LLC lifted its stake in Alphabet by 1,736.4% in 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 during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Alphabet by 1,872.0% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 18,292,839 shares of the information services provider’s stock worth $1,758,856,000 after purchasing an additional 17,365,189 shares during the period. TD Asset Management Inc. increased its position in Alphabet by 1,863.4% during the third quarter. TD Asset Management Inc. now owns 16,524,239 shares of the information services provider’s stock worth $1,620,863,000 after buying an additional 15,682,616 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Alphabet by 1,966.8% in the third 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 during the period. Institutional investors and hedge funds own 28.69% of the company’s stock.
Insider Activity at Alphabet
In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $101.13, for a total value of $86,466.15. Following the transaction, the chief accounting officer now owns 24,908 shares in the company, valued at $2,518,946.04. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Amie Thuener O’toole sold 855 shares of the stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $101.13, for a total value of $86,466.15. Following the transaction, the chief accounting officer now directly owns 24,908 shares in the company, valued at approximately $2,518,946.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John Kent Walker sold 11,313 shares of the business’s stock in a transaction on Monday, January 23rd. The shares were sold at an average price of $100.00, for a total transaction of $1,131,300.00. Following the sale, the insider now owns 41,970 shares of the company’s stock, valued at approximately $4,197,000. The disclosure for this sale can be found here. Insiders sold 36,963 shares of company stock valued at $3,453,119 in the last three months. Corporate insiders own 12.99% of the company’s stock.
Analysts Set New Price Targets
Alphabet Price Performance
Shares of GOOG opened at $90.30 on Wednesday. The business’s 50 day moving average price is $94.12 and its two-hundred day moving average price is $98.59. The firm has a market cap of $1.16 trillion, a PE ratio of 19.84, a price-to-earnings-growth ratio of 1.23 and a beta of 1.08. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38. Alphabet Inc. has a 52-week low of $83.45 and a 52-week high of $144.16.
Alphabet (NASDAQ:GOOG – Get Rating) last posted its quarterly earnings results 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 company 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% on a year-over-year basis. During the same period last year, the firm posted $1.53 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 5.12 EPS for the current year.
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.
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