Parsec Financial Management Inc. boosted its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 0.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,260 shares of the information services provider’s stock after buying an additional 130 shares during the period. Parsec Financial Management Inc.’s holdings in Alphabet were worth $4,699,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings 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 purchasing an additional 453,413,389 shares in the last quarter. State Street Corp grew its holdings in shares of 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 valued at $20,770,809,000 after acquiring an additional 206,300,042 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of 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 grew its holdings in shares of 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 valued at $5,847,474,000 after acquiring an additional 58,159,150 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of 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 valued at $5,553,529,000 after acquiring an additional 55,153,448 shares in the last quarter. 34.06% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other Alphabet news, Director Ann Mather sold 380 shares of the firm’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $90.05, for a total value of $34,219.00. Following the completion of the sale, the director now directly owns 11,300 shares in the company, valued at $1,017,565. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, Director Ann Mather sold 380 shares of the firm’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $90.05, for a total value of $34,219.00. Following the completion of the sale, the director now directly owns 11,300 shares in the company, valued at $1,017,565. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the stock in a transaction on Monday, March 13th. The stock was bought at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the acquisition, the insider now directly 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 100,539 shares of company stock worth $10,214,031 over the last three months. Company insiders own 11.44% of the company’s stock.
Wall Street Analysts Forecast Growth
Alphabet Stock Performance
Alphabet stock opened at $105.32 on Wednesday. The company has a current ratio of 2.35, a quick ratio of 2.34 and a debt-to-equity ratio of 0.05. The firm has a 50-day moving average of $100.73 and a 200-day moving average of $96.74. The firm has a market cap of $1.35 trillion, a P/E ratio of 23.46, a P/E/G ratio of 1.39 and a beta of 1.10. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $122.85.
Alphabet (NASDAQ:GOOGL – Get Rating) last posted its earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. The company had revenue of $69.79 billion during the quarter, compared to analyst estimates of $57.19 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. During the same period in the prior year, the business posted $1.23 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 5.39 EPS for the current year.
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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