Thornburg Investment Management Inc. increased its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 3.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 561,188 shares of the information services provider’s stock after buying an additional 19,591 shares during the period. Alphabet accounts for about 0.8% of Thornburg Investment Management Inc.’s portfolio, making the stock its 28th largest position. Thornburg Investment Management Inc.’s holdings in Alphabet were worth $49,514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently added to or reduced their stakes in GOOGL. Bornite Capital Management LP acquired a new stake in Alphabet in the 1st quarter worth approximately $16,688,000. Markel Corp lifted its stake in Alphabet by 17.0% during the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after acquiring an additional 2,250 shares during the period. United Bank lifted its stake in shares of Alphabet by 5.9% in the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after purchasing an additional 113 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Alphabet by 23.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after purchasing an additional 61,427 shares during the period. Finally, Dakota Wealth Management lifted its stake in shares of Alphabet by 20.4% in the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after purchasing an additional 1,570 shares during the period. Hedge funds and other institutional investors own 34.06% of the company’s stock.
Insider Activity
In related news, Director Ann Mather sold 380 shares of the company’s stock in a transaction dated Monday, February 27th. The stock was 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 owns 11,300 shares in the company, valued at $1,017,565. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, 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 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the 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 transaction, the insider now owns 11,421,476 shares of the company’s stock, valued at $161,385,455.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 732,217 shares of company stock valued at $21,135,371 and have sold 238,811 shares valued at $15,576,939. 11.44% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Alphabet Price Performance
Shares of GOOGL stock opened at $111.75 on Thursday. The stock’s fifty day simple moving average is $102.74 and its 200 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. The firm has a market cap of $1.42 trillion, a price-to-earnings ratio of 24.89, a P/E/G ratio of 1.35 and a beta of 1.10. Alphabet Inc. has a one year low of $83.34 and a one year high of $122.43.
Alphabet (NASDAQ:GOOGL – Get Rating) last posted its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. The company had revenue of $69.79 billion for the quarter, compared to analyst estimates of $57.19 billion. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. During the same quarter in the previous year, the firm earned $1.23 earnings per share. On average, analysts expect that Alphabet Inc. will post 5.39 earnings per share for the current fiscal year.
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.
Further Reading
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