Markel Corp raised its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 4.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 373,000 shares of the information services provider’s stock after buying an additional 16,500 shares during the quarter. Markel Corp’s holdings in Alphabet were worth $32,910,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Alphabet by 1,919.4% during 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 acquiring an additional 453,413,389 shares during the last quarter. State Street Corp increased its holdings in Alphabet by 1,900.6% in the third 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 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 worth $11,106,502,000 after purchasing an additional 109,870,525 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Alphabet by 1,955.0% in the third 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 increased its holdings in Alphabet by 1,896.9% in 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 purchasing an additional 55,153,448 shares in the last quarter. 34.06% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In related news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of Alphabet stock in a transaction on Monday, March 13th. The shares were purchased at an average cost 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 approximately $50,072,045.83. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of Alphabet stock in a transaction dated Monday, March 13th. The shares were bought at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the transaction, the insider now owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ann Mather sold 380 shares of the stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $90.05, for a total transaction of $34,219.00. Following the completion of the sale, the director now directly owns 11,300 shares in the company, valued at approximately $1,017,565. The disclosure for this sale can be found here. Over the last three months, insiders sold 100,539 shares of company stock worth $10,209,164. 11.44% of the stock is currently owned by company insiders.
Alphabet Stock Down 0.1 %
Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, topping the consensus estimate of $1.06 by $0.11. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The firm had revenue of $69.79 billion during the quarter, compared to analyst estimates of $57.19 billion. During the same quarter in the prior year, the business posted $1.23 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 5.39 EPS for the current fiscal year.
Analyst Ratings Changes
A number of equities research analysts have weighed in on GOOGL shares. Barclays lifted their target price on Alphabet from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Bank of America lifted their target price on Alphabet from $125.00 to $128.00 and gave the company a “buy” rating in a research report on Wednesday, April 26th. Jefferies Financial Group reaffirmed a “buy” rating and set a $130.00 target price on shares of Alphabet in a research report on Friday, February 10th. Roth Mkm upped their price objective on Alphabet from $126.00 to $134.00 and gave the company a “buy” rating in a research note on Wednesday, April 26th. Finally, Evercore ISI upped their price target on Alphabet from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, April 26th. Three equities research analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $130.06.
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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