First Heartland Consultants Inc. lessened its position in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 33.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,400 shares of the information services provider’s stock after selling 8,601 shares during the period. First Heartland Consultants Inc.’s holdings in Alphabet were worth $1,544,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of GOOG. Vanguard Group Inc. raised its position in shares of Alphabet by 1,885.5% in the 3rd quarter. Vanguard Group Inc. now owns 422,194,039 shares of the information services provider’s stock valued at $40,593,957,000 after buying an additional 400,930,216 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Alphabet by 1,857.3% in the 3rd quarter. BlackRock Inc. now owns 364,589,580 shares of the information services provider’s stock valued at $35,055,286,000 after purchasing an additional 345,962,033 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Alphabet by 1,770.6% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 203,484,912 shares of the information services provider’s stock valued at $19,639,414,000 after purchasing an additional 192,607,045 shares during the last quarter. State Street Corp boosted its stake in shares of Alphabet by 1,851.7% in the 3rd quarter. State Street Corp now owns 196,897,894 shares of the information services provider’s stock valued at $18,931,733,000 after purchasing an additional 186,809,281 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in Alphabet by 1,862.3% during the third quarter. Alliancebernstein L.P. now owns 63,184,850 shares of the information services provider’s stock worth $6,075,223,000 after acquiring an additional 59,964,963 shares in the last quarter. Institutional investors own 28.69% of the company’s stock.
Insider Activity
In other news, Director Ann Mather sold 380 shares of the business’s stock in a transaction on Tuesday, December 27th. The shares were sold at an average price of $89.24, for a total transaction of $33,911.20. Following the sale, the director now owns 11,300 shares in the company, valued at approximately $1,008,412. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Alphabet news, Director Kavitark Ram Shriram sold 37,500 shares of the business’s stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $100.00, for a total value of $3,750,000.00. Following the completion of the transaction, the director now owns 144,740 shares of the company’s stock, valued at approximately $14,474,000. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ann Mather sold 380 shares of the business’s stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total value of $33,911.20. Following the completion of the transaction, the director now directly owns 11,300 shares of the company’s stock, valued at approximately $1,008,412. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,245 shares of company stock worth $7,174,078. Corporate insiders own 12.99% of the company’s stock.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOG – 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). Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The business had revenue of $76.05 billion for the quarter, compared to the consensus estimate of $76.49 billion. During the same quarter last year, the firm posted $1.53 EPS. The business’s quarterly revenue was up 1.0% on a year-over-year basis. As a group, research analysts predict that Alphabet Inc. will post 5.12 EPS for the current year.
Analyst Ratings Changes
Several research analysts have weighed in on GOOG shares. Roth Capital restated a “buy” rating on shares of Alphabet in a report on Friday, February 3rd. Societe Generale decreased their price objective on shares of Alphabet from $147.00 to $132.00 and set a “buy” rating for the company in a report on Wednesday, November 30th. Jefferies Financial Group set a $125.00 price objective on shares of Alphabet in a research report on Friday, February 3rd. Bank of America raised their target price on shares of Alphabet from $116.00 to $119.00 and gave the company a “buy” rating in a research note on Tuesday, January 31st. Finally, The Goldman Sachs Group set a $128.00 target price on shares of Alphabet in a research note on Friday, February 3rd. One research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $135.11.
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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