Sonen Capital LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,772.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,498 shares of the information services provider’s stock after purchasing an additional 6,151 shares during the period. Sonen Capital LLC’s holdings in Alphabet were worth $622,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in GOOGL. Massachusetts Financial Services Co. MA boosted its stake in 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 last quarter. Fisher Asset Management LLC lifted its position 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 worth $4,062,723,000 after purchasing an additional 40,381,114 shares during the period. Jennison Associates LLC lifted its position 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 last quarter. Vanguard Group Inc. lifted its holdings in shares of 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 purchasing an additional 331,945 shares in the last quarter. Finally, Alecta Tjanstepension Omsesidigt lifted its holdings in shares of Alphabet by 1,900.0% in the third quarter. Alecta Tjanstepension Omsesidigt now owns 19,286,000 shares of the information services provider’s stock valued at $1,845,092,000 after purchasing an additional 18,321,700 shares in the last quarter. Institutional investors and hedge funds own 34.06% of the company’s stock.
Wall Street Analyst Weigh In
GOOGL has been the topic of several analyst reports. MKM Partners increased their target price on shares of Alphabet from $120.00 to $126.00 in a research report on Friday, February 3rd. Tigress Financial decreased their price target on Alphabet from $186.00 to $160.00 and set a “strong-buy” rating on the stock in a report on Friday, January 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $115.00 price target on shares of Alphabet in a research report on Friday, February 3rd. Loop Capital increased their price target on shares of Alphabet from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, February 8th. Finally, Barclays increased their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company 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 given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $132.32.
Alphabet Trading Up 0.3 %
Alphabet (NASDAQ:GOOGL – Get Rating) last announced its earnings results on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The firm had revenue of $76.05 billion for the quarter, compared to analysts’ expectations of $63.15 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. During the same quarter last year, the business earned $1.53 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post 5.12 earnings per share for the current fiscal year.
Insider Transactions at Alphabet
In other news, CAO Amie Thuener O’toole sold 637 shares of Alphabet stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $90.15, for a total transaction of $57,425.55. Following the completion of the sale, the chief accounting officer now directly owns 25,442 shares in the company, valued at $2,293,596.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Ann Mather sold 380 shares of the firm’s stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total transaction of $33,911.20. Following the completion of the sale, the director now directly owns 11,300 shares of the company’s stock, valued at approximately $1,008,412. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $90.15, for a total value of $57,425.55. Following the completion of the transaction, the chief accounting officer now directly owns 25,442 shares in the company, valued at $2,293,596.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,745 shares of company stock worth $3,424,078. Company insiders own 11.44% of the company’s stock.
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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