Commerzbank Aktiengesellschaft FI decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 0.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 694,713 shares of the information services provider’s stock after selling 718 shares during the quarter. Alphabet accounts for about 10.0% of Commerzbank Aktiengesellschaft FI’s holdings, making the stock its 4th biggest position. Commerzbank Aktiengesellschaft FI’s holdings in Alphabet were worth $61,295,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Alphabet by 1,919.4% during the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after purchasing an additional 453,413,389 shares in the last quarter. State Street Corp increased its position in Alphabet by 1,900.6% during the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after purchasing an additional 206,300,042 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Alphabet by 1,759.2% during the 3rd 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 purchasing an additional 109,870,525 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Alphabet by 1,955.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 61,134,061 shares of the information services provider’s stock worth $5,847,474,000 after purchasing an additional 58,159,150 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position 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 worth $5,553,529,000 after acquiring an additional 55,153,448 shares during the last quarter. Hedge funds and other institutional investors own 34.06% of the company’s stock.
Insiders Place Their Bets
In other news, insider John Kent Walker sold 11,313 shares of the business’s stock in a transaction on Monday, January 23rd. The shares were sold at an average price of $100.00, for a total transaction of $1,131,300.00. Following the completion of the transaction, the insider now owns 41,970 shares of the company’s stock, valued at $4,197,000. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider John Kent Walker sold 11,313 shares of Alphabet stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $100.00, for a total value of $1,131,300.00. Following the sale, the insider now directly owns 41,970 shares in the company, valued at approximately $4,197,000. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 637 shares of Alphabet stock in a transaction dated Wednesday, February 1st. The shares were sold at an average price of $99.87, for a total transaction of $63,617.19. Following the completion of the sale, the chief accounting officer now owns 25,282 shares in the company, valued at $2,524,913.34. The disclosure for this sale can be found here. Insiders have sold 112,192 shares of company stock valued at $11,373,417 over the last three months. Company insiders own 11.44% of the company’s stock.
Alphabet Trading Up 3.8 %
Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The company had revenue of $76.05 billion for the quarter, compared to analyst estimates of $63.15 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. During the same quarter in the previous year, the company posted $1.53 earnings per share. On average, equities analysts expect that Alphabet Inc. will post 5.11 earnings per share for the current year.
Analysts Set New Price Targets
A number of analysts recently issued reports on GOOGL shares. Loop Capital raised their target price on shares of Alphabet from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, February 8th. Evercore ISI reduced their target price on Alphabet from $130.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 21st. Rosenblatt Securities dropped their price target on shares of Alphabet from $130.00 to $128.00 and set a “buy” rating for the company in a research report on Friday, February 3rd. Bank of America upped their price target on shares of Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a research report on Tuesday, January 31st. Finally, Wells Fargo & Company boosted their price target on Alphabet from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Four 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 company’s stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target 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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