Fulcrum Capital LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 29.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,408 shares of the information services provider’s stock after purchasing an additional 3,460 shares during the quarter. Fulcrum Capital LLC’s holdings in Alphabet were worth $1,367,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in GOOG. Vanguard Group Inc. lifted its position in shares of Alphabet by 1,885.5% during 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. lifted its holdings in 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in 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 in the last quarter. State Street Corp lifted its holdings in 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 in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in Alphabet by 1,862.3% in the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 28.69% of the company’s stock.
Analysts Set New Price Targets
GOOG has been the topic of a number of research reports. UBS Group set a $120.00 price objective on Alphabet in a report on Monday, February 6th. JPMorgan Chase & Co. set a $118.00 price objective on Alphabet in a report on Thursday, February 9th. Bank of America raised their target price on Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a research note on Tuesday, January 31st. Sanford C. Bernstein set a $130.00 target price on Alphabet in a research note on Monday, February 6th. Finally, Credit Suisse Group set a $136.00 target price on Alphabet in a research note on Friday, February 3rd. One research analyst has rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $135.11.
Alphabet Price Performance
Alphabet (NASDAQ:GOOG – Get Rating) last posted 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). Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The business had revenue of $76.05 billion for the quarter, compared to analysts’ expectations of $76.49 billion. During the same quarter in the previous year, the firm earned $1.53 EPS. Alphabet’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities research analysts anticipate that Alphabet Inc. will post 5.11 earnings per share for the current fiscal year.
Insider Buying and Selling at Alphabet
In other Alphabet news, Director Ann Mather sold 340 shares of the business’s stock in a transaction that occurred on Wednesday, January 25th. The stock was sold at an average price of $96.92, for a total value of $32,952.80. Following the completion of the sale, the director now owns 11,300 shares in the company, valued at $1,095,196. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Alphabet news, Director Ann Mather sold 340 shares of the business’s stock in a transaction that occurred on Wednesday, January 25th. The stock was sold at an average price of $96.92, for a total value of $32,952.80. Following the completion of the sale, the director now owns 11,300 shares in the company, valued at $1,095,196. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Prabhakar Raghavan sold 32,379 shares of the business’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $103.46, for a total value of $3,349,931.34. Following the completion of the sale, the senior vice president now owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 112,192 shares of company stock worth $11,373,417. 12.99% of the stock is owned by insiders.
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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