Shell Asset Management Co. decreased its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 43.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 242,381 shares of the information services provider’s stock after selling 184,361 shares during the period. Alphabet comprises 0.9% of Shell Asset Management Co.’s portfolio, making the stock its 12th largest holding. Shell Asset Management Co.’s holdings in Alphabet were worth $21,385,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of 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 during the period. State Street Corp boosted its holdings in Alphabet by 1,900.6% during 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 buying an additional 206,300,042 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Alphabet by 1,759.2% during 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 buying an additional 109,870,525 shares during the period. 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 valued at $5,847,474,000 after buying an additional 58,159,150 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of 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 valued at $5,553,529,000 after acquiring an additional 55,153,448 shares during the period. 34.06% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Stock Up 0.8 %
NASDAQ:GOOGL opened at $105.57 on Monday. The stock has a 50-day simple moving average of $101.61 and a 200 day simple moving average of $96.85. Alphabet Inc. has a one year low of $83.34 and a one year high of $122.43. The company has a market capitalization of $1.34 trillion, a price-to-earnings ratio of 23.51, a price-to-earnings-growth ratio of 1.34 and a beta of 1.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.32 and a current ratio of 2.35.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on GOOGL shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Alphabet in a research note on Monday, April 3rd. Royal Bank of Canada lifted their price target on Alphabet from $130.00 to $132.00 in a research note on Wednesday, April 26th. Sanford C. Bernstein lowered their price objective on shares of Alphabet from $130.00 to $125.00 and set an “outperform” rating on the stock in a research note on Thursday, April 20th. Rosenblatt Securities cut their target price on shares of Alphabet from $130.00 to $128.00 and set a “buy” rating for the company in a research report on Friday, February 3rd. Finally, Wells Fargo & Company increased their price target on shares of Alphabet from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Three equities research analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $130.06.
Insiders Place Their Bets
In other news, Director Ann Mather sold 380 shares of Alphabet 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 transaction, the director now directly owns 11,300 shares of the company’s stock, valued at approximately $1,017,565. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the business’s stock in a transaction on 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 completion of the purchase, the insider now owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ann Mather sold 380 shares of the business’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $90.05, for a total transaction of $34,219.00. Following the transaction, the director now directly owns 11,300 shares of the company’s stock, valued at approximately $1,017,565. The disclosure for this sale can be found here. Over the last three months, insiders have sold 138,039 shares of company stock valued at $14,153,031. Company insiders own 11.44% of the company’s stock.
Alphabet Company 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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