Great Valley Advisor Group Inc. increased its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 166,435 shares of the information services provider’s stock after acquiring an additional 3,501 shares during the period. Alphabet makes up 0.8% of Great Valley Advisor Group Inc.’s portfolio, making the stock its 26th biggest position. Great Valley Advisor Group Inc.’s holdings in Alphabet were worth $14,685,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Alphabet by 1,919.4% in the third quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after buying an additional 453,413,389 shares during the last quarter. State Street Corp boosted its stake in shares of 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 in the last quarter. Price T Rowe Associates Inc. MD lifted 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 buying an additional 109,870,525 shares in the last quarter. Massachusetts Financial Services Co. MA lifted 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 valued at $5,847,474,000 after purchasing an additional 58,159,150 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of 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 acquiring an additional 55,153,448 shares during the last quarter. Institutional investors and hedge funds own 34.06% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on the company. JMP Securities reissued a “market outperform” rating and issued a $132.00 price objective on shares of Alphabet in a report on Thursday, March 16th. Sanford C. Bernstein cut their price target on Alphabet from $130.00 to $125.00 and set an “outperform” rating on the stock in a research note on Thursday. Piper Sandler dropped their price target on Alphabet from $120.00 to $117.00 and set an “outperform” rating on the stock in a research note on Friday, March 31st. Rosenblatt Securities decreased their price objective on Alphabet from $130.00 to $128.00 and set a “buy” rating for the company in a report on Friday, February 3rd. Finally, UBS Group upped their price target on Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a report on Thursday, April 6th. Four research analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $131.30.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOGL – Get Rating) last posted its earnings results 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 during the quarter, compared to analyst estimates of $63.15 billion. During the same quarter last year, the business posted $1.53 earnings per share. As a group, research analysts forecast that Alphabet Inc. will post 5.11 earnings per share for the current fiscal year.
Insider Activity at Alphabet
In other news, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction dated 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the company’s stock in a transaction on Monday, March 13th. The stock was acquired at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the purchase, the insider now directly owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 32,379 shares of the business’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 transaction 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 $7,922,966.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 112,192 shares of company stock valued at $11,373,417. Corporate insiders own 11.44% of the company’s stock.
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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