K.J. Harrison & Partners Inc raised its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 57,796 shares of the information services provider’s stock after purchasing an additional 371 shares during the quarter. Alphabet comprises approximately 1.4% of K.J. Harrison & Partners Inc’s holdings, making the stock its 15th biggest holding. K.J. Harrison & Partners Inc’s holdings in Alphabet were worth $6,906,548,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in 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 acquiring an additional 453,413,389 shares in the last quarter. State Street Corp increased its holdings 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 during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Alphabet by 1,759.2% in the third 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 acquiring an additional 109,870,525 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake 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 valued at $5,847,474,000 after acquiring an additional 58,159,150 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Alphabet by 1,896.9% during the 3rd 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 in the last quarter. 34.06% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on GOOGL. Barclays upped their target price on shares of Alphabet from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. Piper Sandler cut their price objective on Alphabet from $120.00 to $117.00 and set an “outperform” rating on the stock in a research note on Friday, March 31st. Truist Financial reduced their target price on Alphabet from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, February 3rd. New Street Research assumed coverage on Alphabet in a report on Wednesday, January 4th. They issued a “buy” rating and a $118.00 price target for the company. 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 given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $131.17.
Alphabet Price Performance
Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) 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 business had revenue of $76.05 billion during the quarter, compared to analyst estimates of $63.15 billion. During the same period in the prior year, the firm earned $1.53 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 5.11 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, SVP Prabhakar Raghavan sold 32,379 shares of the firm’s stock in a transaction 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 filing with the SEC, which is accessible through this hyperlink. In other news, SVP Prabhakar Raghavan sold 32,379 shares of the company’s stock in a transaction 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 $7,922,966.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider John Kent Walker sold 11,313 shares of the stock in a transaction on 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 completion of the transaction, the insider now owns 41,970 shares of the company’s stock, valued at approximately $4,197,000. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 112,192 shares of company stock worth $11,373,417. 11.44% of the stock is owned by insiders.
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.
Further Reading
- Get a free copy of the StockNews.com research report on Alphabet (GOOGL)
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