Girard Partners LTD. lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 5.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,426 shares of the information services provider’s stock after selling 1,776 shares during the period. Girard Partners LTD.’s holdings in Alphabet were worth $2,700,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake 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 purchasing an additional 400,930,216 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Alphabet by 1,857.3% during the third 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 lifted its holdings in shares of Alphabet by 1,770.6% during the third 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 increased its holdings in Alphabet by 1,851.7% in the 3rd quarter. State Street Corp now owns 196,897,894 shares of the information services provider’s stock worth $18,931,733,000 after buying an additional 186,809,281 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in Alphabet by 1,862.3% in the 3rd quarter. Alliancebernstein L.P. now owns 63,184,850 shares of the information services provider’s stock worth $6,075,223,000 after buying an additional 59,964,963 shares in the last quarter. 28.69% of the stock is currently owned by institutional investors.
Alphabet Price Performance
NASDAQ GOOG opened at $108.90 on Friday. The company has a current ratio of 2.38, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 12 month low of $83.45 and a 12 month high of $137.70. The company’s 50 day moving average is $98.63 and its two-hundred day moving average is $96.42. The stock has a market cap of $1.39 trillion, a price-to-earnings ratio of 23.93, a PEG ratio of 1.51 and a beta of 1.10.
Insider Activity
In other news, CAO Amie Thuener O’toole sold 637 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $2,524,913.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Amie Thuener O’toole sold 637 shares of Alphabet stock in a transaction dated Wednesday, February 1st. The stock was sold at an average price of $99.87, for a total value of $63,617.19. Following the completion of the transaction, the chief accounting officer now owns 25,282 shares in the company, valued at $2,524,913.34. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the firm’s stock in a transaction on Monday, March 13th. The shares were bought at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the transaction, the insider now owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The disclosure for this purchase can be found here. Insiders sold a total of 112,192 shares of company stock worth $11,373,417 over the last 90 days. Corporate insiders own 12.99% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on the stock. Cowen lowered their target price on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 11th. Bank of America increased their price objective on shares of Alphabet from $116.00 to $119.00 and gave the company a “buy” rating in a research report on Tuesday, January 31st. Credit Suisse Group set a $136.00 target price on shares of Alphabet in a research report on Friday, February 3rd. JPMorgan Chase & Co. set a $118.00 target price on shares of Alphabet in a research note on Thursday, February 9th. Finally, UBS Group raised their price target on Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research note on Thursday. One investment 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $135.24.
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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