Xponance Inc. raised its stake in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 9.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,095,718 shares of the information services provider’s stock after purchasing an additional 97,203 shares during the quarter. Alphabet comprises approximately 1.6% of Xponance Inc.’s holdings, making the stock its 6th biggest holding. Xponance Inc.’s holdings in Alphabet were worth $97,223,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake 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 purchasing an additional 400,930,216 shares in the last quarter. BlackRock Inc. raised its stake in Alphabet by 1,857.3% during the third quarter. BlackRock Inc. now owns 364,589,580 shares of the information services provider’s stock worth $35,055,286,000 after acquiring an additional 345,962,033 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Alphabet by 1,770.6% during the third quarter. Price T Rowe Associates Inc. MD now owns 203,484,912 shares of the information services provider’s stock worth $19,639,414,000 after acquiring an additional 192,607,045 shares during the period. State Street Corp increased its stake in shares of Alphabet by 1,851.7% in the third 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 period. Finally, Alliancebernstein L.P. increased its stake in shares of Alphabet by 1,862.3% in the third quarter. Alliancebernstein L.P. now owns 63,184,850 shares of the information services provider’s stock valued at $6,075,223,000 after purchasing an additional 59,964,963 shares during the period. Institutional investors and hedge funds own 28.69% of the company’s stock.
Insider Transactions at Alphabet
In other Alphabet news, insider John Kent Walker sold 29,006 shares of the stock in a transaction dated 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 sale, the insider now directly owns 24,277 shares in the company, valued at $2,472,369.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, SVP Prabhakar Raghavan sold 22,203 shares of Alphabet stock in a transaction that occurred 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 transaction, the senior vice president now owns 76,579 shares in the company, valued at $6,872,965.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 29,006 shares of Alphabet stock in a transaction on Wednesday, March 29th. The shares were sold at an average price of $101.84, for a total value of $2,953,971.04. Following the completion of the sale, the insider now directly owns 24,277 shares of the company’s stock, valued at $2,472,369.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 102,871 shares of company stock valued at $10,094,138. 12.99% of the stock is currently owned by corporate insiders.
Alphabet Trading Up 2.6 %
Alphabet (NASDAQ:GOOG – Get Rating) last issued its quarterly earnings data 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 firm had revenue of $76.05 billion for the quarter, compared to analysts’ expectations of $76.49 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The firm’s revenue was up 1.0% on a year-over-year basis. During the same period last year, the company earned $1.53 earnings per share. Analysts predict that Alphabet Inc. will post 5.11 EPS for the current year.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on GOOG. Oppenheimer increased their price objective on shares of Alphabet from $130.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, February 3rd. Piper Sandler decreased their price objective on shares of Alphabet from $122.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, February 3rd. The Goldman Sachs Group set a $128.00 price objective on shares of Alphabet in a research note on Friday, February 3rd. UBS Group set a $120.00 target price on shares of Alphabet in a research report on Monday, February 6th. Finally, JPMorgan Chase & Co. set a $118.00 price target on shares of Alphabet in a report on Thursday, February 9th. One research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $135.11.
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.
Further Reading
- Get a free copy of the StockNews.com research report on Alphabet (GOOG)
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