ARS Investment Partners LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 3.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 55,547 shares of the information services provider’s stock after selling 1,797 shares during the period. ARS Investment Partners LLC’s holdings in Alphabet were worth $4,929,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in 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 buying an additional 400,930,216 shares during the last quarter. BlackRock Inc. raised its stake in shares of 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 raised its stake in shares of 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 raised its stake in Alphabet by 1,851.7% during the third quarter. State Street Corp now owns 196,897,894 shares of the information services provider’s stock worth $18,931,733,000 after acquiring an additional 186,809,281 shares during the period. Finally, Alliancebernstein L.P. raised its stake in Alphabet by 1,862.3% during the third quarter. Alliancebernstein L.P. now owns 63,184,850 shares of the information services provider’s stock worth $6,075,223,000 after acquiring an additional 59,964,963 shares during the period. 28.69% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, SVP Prabhakar Raghavan sold 32,379 shares of the firm’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 transaction, the senior vice president now owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, insider John Kent Walker sold 29,006 shares of the stock in a transaction that occurred 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 owns 24,277 shares in the company, valued at approximately $2,472,369.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 32,379 shares of the 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 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. In the last 90 days, insiders sold 112,192 shares of company stock valued at $11,373,417. Company insiders own 12.99% of the company’s stock.
Alphabet Trading Up 3.8 %
Alphabet (NASDAQ:GOOG – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The firm had revenue of $76.05 billion during the quarter, compared to analyst estimates of $76.49 billion. During the same period in the prior year, the business posted $1.53 EPS. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, research analysts anticipate that Alphabet Inc. will post 5.11 EPS for the current fiscal year.
Analysts Set New Price Targets
GOOG has been the topic of several research reports. Raymond James increased their price objective on shares of Alphabet from $116.00 to $119.00 and gave the stock an “outperform” rating in a research note on Friday, February 3rd. Credit Suisse Group set a $136.00 price target on shares of Alphabet in a research note on Friday, February 3rd. Roth Capital restated a “buy” rating on shares of Alphabet in a research note on Friday, February 3rd. 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 analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $135.24.
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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