Prestige Wealth Management Group LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 6.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,796 shares of the information services provider’s stock after purchasing an additional 1,075 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Alphabet were worth $1,482,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. Vanguard Group Inc. grew its stake in shares of Alphabet by 1,919.4% in 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 buying an additional 453,413,389 shares during the last quarter. State Street Corp grew its stake 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 worth $20,770,809,000 after acquiring an additional 206,300,042 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 valued at $11,106,502,000 after acquiring an additional 109,870,525 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Alphabet by 1,955.0% in the 3rd 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 during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in 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 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 hedge funds and other institutional investors.
Alphabet Stock Performance
NASDAQ:GOOGL opened at $111.75 on Thursday. The company has a market cap of $1.42 trillion, a price-to-earnings ratio of 24.89, a PEG ratio of 1.35 and a beta of 1.10. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $122.43. The stock’s 50 day simple moving average is $102.74 and its two-hundred day simple moving average is $97.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.32.
Wall Street Analyst Weigh In
Several brokerages have issued reports on GOOGL. Royal Bank of Canada lifted their target price on shares of Alphabet from $130.00 to $132.00 in a report on Wednesday, April 26th. Evercore ISI increased their target price on Alphabet from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. Rosenblatt Securities lowered their price target on Alphabet from $130.00 to $128.00 and set a “buy” rating on the stock in a report on Friday, February 3rd. Truist Financial lifted their price objective on Alphabet from $120.00 to $122.00 and gave the stock a “buy” rating in a report on Wednesday, April 26th. Finally, Loop Capital upped their target price on shares of Alphabet from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, February 8th. Three investment analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $130.06.
Insider Transactions at Alphabet
In related news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of Alphabet stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $14.13, for a total value of $1,423,908.36. Following the completion of the transaction, the insider now owns 11,421,476 shares in the company, valued at $161,385,455.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of Alphabet stock in a transaction dated Monday, March 13th. The shares were acquired at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the purchase, the insider now owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the firm’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $14.13, for a total transaction of $1,423,908.36. Following the completion of the sale, the insider now owns 11,421,476 shares of the company’s stock, valued at approximately $161,385,455.88. The disclosure for this sale can be found here. In the last three months, insiders have acquired 732,217 shares of company stock worth $21,135,371 and have sold 238,811 shares worth $15,576,939. 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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