SOL Capital Management CO lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 6.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,350 shares of the information services provider’s stock after buying an additional 710 shares during the period. SOL Capital Management CO’s holdings in Alphabet were worth $1,001,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. raised its holdings 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 worth $45,628,484,000 after acquiring an additional 453,413,389 shares in the last quarter. State Street Corp raised its holdings in shares of Alphabet by 1,900.6% during 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 acquiring an additional 206,300,042 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Alphabet by 1,759.2% during 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 acquiring an additional 109,870,525 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Alphabet by 1,955.0% during 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 raised its holdings in Alphabet by 1,896.9% during 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. Institutional investors and hedge funds own 34.06% of the company’s stock.
Alphabet Stock Up 3.8 %
NASDAQ GOOGL opened at $108.42 on Friday. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $137.16. The stock’s 50 day moving average is $97.98 and its two-hundred day moving average is $95.91. The company has a current ratio of 2.38, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $1.39 trillion, a price-to-earnings ratio of 23.82, a PEG ratio of 1.44 and a beta of 1.10.
Insider Activity
In other news, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet 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 transaction, the senior vice president now owns 76,580 shares in the company, valued at $7,922,966.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Kavitark Ram Shriram sold 37,500 shares of Alphabet stock in a transaction that occurred 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 completion of the transaction, the director now owns 144,740 shares in the company, valued at $14,474,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 32,379 shares of the business’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $103.46, for a total transaction of $3,349,931.34. Following the completion of the transaction, 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 90 days, insiders sold 112,192 shares of company stock worth $11,373,417. Insiders own 11.44% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on GOOGL shares. Rosenblatt Securities cut their target price on Alphabet from $130.00 to $128.00 and set a “buy” rating on the stock in a report on Friday, February 3rd. Loop Capital raised their target price on Alphabet from $120.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, February 8th. Tigress Financial cut their target price on Alphabet from $186.00 to $160.00 and set a “strong-buy” rating on the stock in a report on Friday, January 6th. Wells Fargo & Company raised their target price on Alphabet from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, February 3rd. Finally, JMP Securities restated a “market outperform” rating and set a $132.00 target price on shares of Alphabet in a report on Thursday, March 16th. Four equities research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $131.17.
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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