Sanford Advisory Services LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 23.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,294 shares of the information services provider’s stock after purchasing an additional 1,005 shares during the quarter. Sanford Advisory Services LLC’s holdings in Alphabet were worth $468,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings 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 valued at $45,628,484,000 after buying an additional 453,413,389 shares during the last quarter. State Street Corp lifted its stake 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 valued at $20,770,809,000 after acquiring an additional 206,300,042 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Alphabet by 1,759.2% in the 3rd 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 during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Alphabet by 1,955.0% during 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 raised its holdings in shares of 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 valued at $5,553,529,000 after purchasing an additional 55,153,448 shares during the period. Institutional investors own 34.06% of the company’s stock.
Alphabet Trading Up 4.1 %
NASDAQ GOOGL opened at $111.75 on Thursday. The firm has a market capitalization of $1.42 trillion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 1.35 and a beta of 1.10. The business’s 50-day moving average price is $102.74 and its two-hundred day moving average price is $97.05. The company has a current ratio of 2.35, a quick ratio of 2.32 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $122.43.
Insider Transactions at Alphabet
In other news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The shares were acquired at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the acquisition, the insider now directly owns 1,709,527 shares in the company, valued at $50,072,045.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Ann Mather sold 380 shares of the firm’s stock in a transaction that occurred on 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 owns 11,300 shares of the company’s stock, valued at $1,017,565. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the company’s stock in a transaction on Monday, March 13th. The stock was acquired 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 disclosure for this purchase can be found here. Over the last three months, insiders bought 732,217 shares of company stock worth $21,135,371 and sold 238,811 shares worth $15,576,939. 11.44% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
Several equities analysts have recently weighed in on GOOGL shares. Evercore ISI increased their price objective on shares of Alphabet from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, April 26th. Piper Sandler boosted their price objective on Alphabet from $117.00 to $128.00 and gave the stock an “overweight” rating in a report on Wednesday, April 26th. Barclays boosted their price target on Alphabet from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. JMP Securities reiterated a “market outperform” rating and set a $132.00 price objective on shares of Alphabet in a research report on Thursday, March 16th. Finally, Morgan Stanley upped their price target on shares of Alphabet from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, April 26th. Three research analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has a consensus 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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