Matisse Capital lessened its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 5.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,560 shares of the information services provider’s stock after selling 600 shares during the quarter. Matisse Capital’s holdings in Alphabet were worth $932,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of GOOGL. Vanguard Group Inc. grew its holdings in Alphabet by 1,919.4% in the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock valued at $45,628,484,000 after buying an additional 453,413,389 shares during the last quarter. State Street Corp boosted its holdings in Alphabet by 1,900.6% in the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after purchasing an additional 206,300,042 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Alphabet by 1,759.2% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock valued at $11,106,502,000 after purchasing an additional 109,870,525 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Alphabet by 1,955.0% in the 3rd 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 purchasing an additional 58,159,150 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Alphabet by 1,896.9% in the 3rd 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 purchasing an additional 55,153,448 shares during the period. Institutional investors own 34.06% of the company’s stock.
Insiders Place Their Bets
In related news, 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 directly 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 SEC, which is available through the SEC website. In related news, SVP Prabhakar Raghavan sold 32,379 shares of the company’s stock in a transaction 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 directly owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 637 shares of the company’s stock in a transaction on Wednesday, February 1st. The stock was sold at an average price of $99.87, for a total transaction of $63,617.19. Following the completion of the transaction, the chief accounting officer now directly owns 25,282 shares of the company’s stock, valued at $2,524,913.34. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 112,192 shares of company stock worth $11,373,417. Corporate insiders own 11.44% of the company’s stock.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings data 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 firm had revenue of $76.05 billion for the quarter, compared to the consensus estimate of $63.15 billion. During the same period in the previous year, the business earned $1.53 EPS. As a group, sell-side analysts expect that Alphabet Inc. will post 5.11 earnings per share for the current year.
Analysts Set New Price Targets
Several research firms have commented on GOOGL. Wells Fargo & Company upped their price target on Alphabet from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, February 3rd. StockNews.com initiated coverage on Alphabet in a report on Thursday, March 16th. They issued a “hold” rating for the company. Truist Financial lowered their price target on shares of Alphabet from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, February 3rd. Piper Sandler decreased their price objective on Alphabet from $120.00 to $117.00 and set an “outperform” rating on the stock in a report on Friday, March 31st. Finally, Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, February 3rd. Four equities research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $131.17.
About Alphabet
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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