Wedgewood Investors Inc. PA lifted its holdings in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 21.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 11,225 shares of the information services provider’s stock after acquiring an additional 2,005 shares during the quarter. Alphabet accounts for about 1.3% of Wedgewood Investors Inc. PA’s holdings, making the stock its 20th biggest holding. Wedgewood Investors Inc. PA’s holdings in Alphabet were worth $996,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in GOOG. Vanguard Group Inc. raised its holdings in 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 during the last quarter. BlackRock Inc. raised its holdings in Alphabet by 1,857.3% during 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 buying an additional 345,962,033 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Alphabet by 1,770.6% during 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 buying an additional 192,607,045 shares during the last quarter. State Street Corp raised its holdings in Alphabet by 1,851.7% during 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 buying an additional 186,809,281 shares during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in Alphabet by 1,862.3% during 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 buying an additional 59,964,963 shares during the last quarter. 28.69% of the stock is currently owned by institutional investors.
Alphabet Stock Up 3.8 %
NASDAQ:GOOG opened at $108.90 on Friday. The firm’s 50-day moving average price is $98.63 and its 200-day moving average price is $96.46. The company has a market capitalization of $1.39 trillion, a PE ratio of 23.93, a P/E/G ratio of 1.45 and a beta of 1.10. 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 Inc. has a 1-year low of $83.45 and a 1-year high of $137.70.
Wall Street Analysts Forecast Growth
GOOG has been the subject of a number of recent analyst reports. Jefferies Financial Group set a $125.00 price target on shares of Alphabet in a report on Friday, February 3rd. Piper Sandler lowered their price target on shares of Alphabet from $122.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, February 3rd. Bank of America upped their price objective on shares of Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a report on Tuesday, January 31st. Cowen decreased their price objective on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating for the company in a report on Wednesday, January 11th. Finally, Sanford C. Bernstein set a $130.00 price objective on shares of Alphabet in a report on Monday, February 6th. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $135.24.
Insider Activity at Alphabet
In related news, Director Ann Mather sold 340 shares of the stock in a transaction dated Wednesday, January 25th. The shares were sold at an average price of $96.92, for a total transaction of $32,952.80. Following the sale, the director now directly owns 11,300 shares of the company’s stock, valued at approximately $1,095,196. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The shares were bought at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the transaction, the insider now owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ann Mather sold 340 shares of the company’s stock in a transaction dated Wednesday, January 25th. The shares were sold at an average price of $96.92, for a total transaction of $32,952.80. Following the transaction, the director now owns 11,300 shares in the company, valued at approximately $1,095,196. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 112,192 shares of company stock valued at $11,373,417. 12.99% of the stock is owned by insiders.
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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