Marion Wealth Management grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 28.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,805 shares of the information services provider’s stock after acquiring an additional 3,516 shares during the quarter. Marion Wealth Management’s holdings in Alphabet were worth $1,394,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Alphabet by 1,919.4% in the third quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock valued at $45,628,484,000 after buying an additional 453,413,389 shares in the last quarter. State Street Corp grew its stake in shares of Alphabet by 1,900.6% in the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after buying an additional 206,300,042 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Alphabet by 1,759.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock valued at $11,106,502,000 after buying an additional 109,870,525 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of 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. Finally, Bank of New York Mellon Corp grew its stake in shares of Alphabet by 1,896.9% in the third quarter. Bank of New York Mellon Corp now owns 58,060,946 shares of the information services provider’s stock valued at $5,553,529,000 after buying an additional 55,153,448 shares in the last quarter. 34.06% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Alphabet
In other news, SVP Prabhakar Raghavan sold 22,203 shares of the business’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the sale, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Prabhakar Raghavan sold 22,203 shares of the business’s stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the sale, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 37,500 shares of Alphabet stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $100.00, for a total value of $3,750,000.00. Following the transaction, the director now owns 144,740 shares in the company, valued at approximately $14,474,000. The disclosure for this sale can be found here. Insiders have sold 73,865 shares of company stock valued at $7,140,167 over the last three months. Company insiders own 11.44% of the company’s stock.
Alphabet Stock Up 0.4 %
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 analysts’ consensus estimates of $1.14 by ($0.09). The company 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 earnings per share. As a group, research analysts predict that Alphabet Inc. will post 5.12 earnings per share for the current year.
Analyst Ratings Changes
A number of research analysts recently commented on GOOGL shares. Needham & Company LLC reissued a “buy” rating and issued a $115.00 price target on shares of Alphabet in a report on Wednesday, March 8th. BNP Paribas raised Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 price target for the company in a report on Friday, March 17th. Truist Financial reduced their price target on Alphabet from $130.00 to $120.00 and set a “buy” rating for the company in a report on Friday, February 3rd. Evercore ISI reduced their price target on Alphabet from $130.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, December 21st. Finally, JMP Securities reissued a “market outperform” rating and issued a $132.00 price target on shares of Alphabet in a report on Thursday, March 16th. Four investment 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 company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.83.
Alphabet 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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