CGN Advisors LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 63.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,428 shares of the information services provider’s stock after purchasing an additional 14,498 shares during the period. CGN Advisors LLC’s holdings in Alphabet were worth $3,302,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Alphabet by 1,919.4% during 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 buying an additional 453,413,389 shares during the last quarter. State Street Corp raised its position in Alphabet by 1,900.6% during 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 buying an additional 206,300,042 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Alphabet by 1,759.2% during 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 buying an additional 109,870,525 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position 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 worth $5,847,474,000 after buying an additional 58,159,150 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Alphabet by 1,896.9% during 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 buying an additional 55,153,448 shares during the last quarter. 34.06% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other news, Director Ann Mather sold 380 shares of the business’s stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $89.24, for a total transaction of $33,911.20. Following the transaction, the director now owns 11,300 shares of the company’s stock, valued at approximately $1,008,412. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the company’s stock in a transaction dated Wednesday, February 1st. The shares were sold at an average price of $99.87, for a total value of $63,617.19. Following the transaction, the chief accounting officer now owns 25,282 shares of the company’s stock, valued at $2,524,913.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ann Mather sold 380 shares of the company’s stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $89.24, for a total transaction of $33,911.20. Following the completion of the transaction, the director now directly owns 11,300 shares in the company, valued at approximately $1,008,412. The disclosure for this sale can be found here. In the last quarter, insiders have sold 74,245 shares of company stock valued at $7,174,078. 11.44% of the stock is currently owned by insiders.
Alphabet Trading Up 1.3 %
Alphabet (NASDAQ:GOOGL – Get Rating) last announced its 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). The business had revenue of $76.05 billion for the quarter, compared to analyst estimates of $63.15 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. During the same period last year, the firm earned $1.53 EPS. Research analysts forecast that Alphabet Inc. will post 5.12 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on the stock. StockNews.com assumed coverage on shares of Alphabet in a research report on Thursday. They set a “hold” rating for the company. Tigress Financial reduced their price target on shares of Alphabet from $186.00 to $160.00 and set a “strong-buy” rating for the company in a research report on Friday, January 6th. Rosenblatt Securities cut their target price on shares of Alphabet from $130.00 to $128.00 and set a “buy” rating for the company in a report on Friday, February 3rd. Evercore ISI cut their target price on shares of Alphabet from $130.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, December 21st. Finally, Morgan Stanley lifted their target price on shares of Alphabet from $125.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, February 3rd. Four research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $132.44.
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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