Goelzer Investment Management Inc. trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 17.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,319 shares of the information services provider’s stock after selling 1,141 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Alphabet were worth $469,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of GOOGL. Vanguard Group Inc. increased its position in shares of Alphabet by 1,919.4% during 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 acquiring an additional 453,413,389 shares during the last quarter. State Street Corp increased its position in 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 worth $20,770,809,000 after buying an additional 206,300,042 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in 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 worth $11,106,502,000 after buying an additional 109,870,525 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in 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 worth $5,847,474,000 after buying an additional 58,159,150 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in 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 worth $5,553,529,000 after buying an additional 55,153,448 shares during the last quarter. 34.06% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Alphabet
In other Alphabet news, insider John Kent Walker sold 29,006 shares of the company’s stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $101.84, for a total transaction of $2,953,971.04. Following the completion of the transaction, the insider now owns 24,277 shares of the company’s stock, valued at approximately $2,472,369.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Kavitark Ram Shriram sold 37,500 shares of the stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 29,006 shares of the stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $101.84, for a total value of $2,953,971.04. Following the completion of the transaction, the insider now directly owns 24,277 shares of the company’s stock, valued at approximately $2,472,369.68. The disclosure for this sale can be found here. Insiders sold 102,871 shares of company stock valued at $10,094,138 in the last 90 days. Insiders own 11.44% of the company’s stock.
Wall Street Analyst Weigh In
Alphabet Trading Up 2.8 %
Shares of GOOGL stock opened at $103.73 on Monday. The stock has a market capitalization of $1.33 trillion, a PE ratio of 22.80, a P/E/G ratio of 1.39 and a beta of 1.09. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $143.79. The business has a 50-day moving average of $97.34 and a 200 day moving average of $95.74. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34.
Alphabet (NASDAQ:GOOGL – Get Rating) last issued its earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.09). The company 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 in the prior year, the company earned $1.53 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 5.11 earnings per share for the current 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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