Obermeyer Wood Investment Counsel Lllp grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,896.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,460 shares of the information services provider’s stock after purchasing an additional 42,233 shares during the quarter. Obermeyer Wood Investment Counsel Lllp’s holdings in Alphabet were worth $4,253,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Alphabet by 1,919.4% in the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after acquiring an additional 453,413,389 shares in the last quarter. State Street Corp increased its holdings in Alphabet by 1,900.6% in the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after acquiring an additional 206,300,042 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Alphabet by 1,759.2% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock worth $11,106,502,000 after acquiring an additional 109,870,525 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Alphabet by 1,955.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 61,134,061 shares of the information services provider’s stock worth $5,847,474,000 after acquiring an additional 58,159,150 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Alphabet by 1,896.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 58,060,946 shares of the information services provider’s stock worth $5,553,529,000 after acquiring an additional 55,153,448 shares in the last quarter. 34.06% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In related news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The stock was purchased at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the acquisition, the insider now directly owns 1,709,527 shares in the company, valued at $50,072,045.83. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other Alphabet news, Director Ann Mather sold 340 shares of the stock in a transaction on Wednesday, January 25th. The stock was sold at an average price of $96.92, for a total value of $32,952.80. Following the completion of the transaction, the director now owns 11,300 shares in the company, valued at $1,095,196. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the business’s stock in a transaction on Monday, March 13th. The stock was acquired at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the transaction, the insider now directly owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 74,245 shares of company stock valued at $7,174,078. 11.44% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Alphabet Stock Performance
Shares of GOOGL opened at $100.32 on Friday. The stock has a 50 day moving average price of $94.79 and a 200 day moving average price of $96.32. 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 company has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 22.04, a price-to-earnings-growth ratio of 1.26 and a beta of 1.09. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $143.79.
Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The business had revenue of $76.05 billion during the quarter, compared to analyst estimates of $63.15 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. During the same period last year, the company earned $1.53 earnings per share. Research analysts predict that Alphabet Inc. will post 5.12 EPS for the current fiscal 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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