Marsico Capital Management LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 2,343.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,042,523 shares of the information services provider’s stock after acquiring an additional 999,862 shares during the period. Alphabet comprises 5.4% of Marsico Capital Management LLC’s investment portfolio, making the stock its 4th biggest holding. Marsico Capital Management LLC’s holdings in Alphabet were worth $99,717,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of GOOGL. Massachusetts Financial Services Co. MA raised its stake in Alphabet by 1,955.0% in the third 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 buying an additional 58,159,150 shares in the last quarter. Fisher Asset Management LLC raised its stake in Alphabet by 1,928.6% in the third 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 buying an additional 40,381,114 shares in the last quarter. Jennison Associates LLC raised its stake in Alphabet by 1,690.3% in the third quarter. Jennison Associates LLC now owns 26,231,920 shares of the information services provider’s stock valued at $2,509,083,000 after buying an additional 24,766,730 shares in the last quarter. Vanguard Group Inc. raised its stake in Alphabet by 1.4% in the first quarter. Vanguard Group Inc. now owns 23,304,411 shares of the information services provider’s stock valued at $64,817,723,000 after buying an additional 331,945 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt grew its holdings in shares of Alphabet by 1,900.0% during the third quarter. Alecta Tjanstepension Omsesidigt now owns 19,286,000 shares of the information services provider’s stock worth $1,845,092,000 after purchasing an additional 18,321,700 shares during the last quarter. 34.06% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts recently issued reports on GOOGL shares. KeyCorp lowered their price target on Alphabet from $118.00 to $117.00 and set an “overweight” rating on the stock in a report on Monday, January 30th. New Street Research initiated coverage on Alphabet in a report on Wednesday, January 4th. They issued a “buy” rating and a $118.00 price objective on the stock. Mizuho reduced their price target on shares of Alphabet from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Wednesday, November 30th. MKM Partners lifted their price objective on Alphabet from $120.00 to $126.00 in a research report on Friday, February 3rd. Finally, Wells Fargo & Company lifted their price objective on Alphabet from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. Five investment analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.32.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.09). Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The firm had revenue of $76.05 billion for the quarter, compared to the consensus estimate of $63.15 billion. During the same quarter in the previous year, the business posted $1.53 EPS. Equities research analysts forecast that Alphabet Inc. will post 5.12 EPS for the current year.
Insider Buying and Selling at Alphabet
In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total transaction of $77,933.25. Following the transaction, the chief accounting officer now directly owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider John Kent Walker sold 11,313 shares of Alphabet stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $100.00, for a total value of $1,131,300.00. Following the completion of the transaction, the insider now directly owns 41,970 shares in the company, valued at approximately $4,197,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total transaction of $77,933.25. Following the completion of the transaction, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at $2,289,870.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,745 shares of company stock worth $3,424,078. 11.44% of the stock is owned by corporate insiders.
Alphabet Company 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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