Everhart Financial Group Inc. lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 12.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,821 shares of the information services provider’s stock after selling 1,383 shares during the quarter. Everhart Financial Group Inc.’s holdings in Alphabet were worth $867,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of GOOGL. Vanguard Group Inc. lifted 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 period. State Street Corp lifted its holdings in shares of Alphabet by 1,900.6% in the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after buying an additional 206,300,042 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings 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 buying an additional 109,870,525 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings 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 valued at $5,847,474,000 after buying an additional 58,159,150 shares during the period. Finally, Bank of New York Mellon Corp lifted 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 buying an additional 55,153,448 shares during the period. 34.06% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $115.00 price objective on shares of Alphabet in a report on Monday, April 3rd. Sanford C. Bernstein cut their price target on Alphabet from $130.00 to $125.00 and set an “outperform” rating for the company in a report on Thursday, April 20th. Stifel Nicolaus assumed coverage on Alphabet in a report on Monday, March 20th. They issued a “buy” rating and a $130.00 price target for the company. Credit Suisse Group cut their price target on Alphabet from $136.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, April 26th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Alphabet in a research report on Friday, February 10th. Four investment analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.06.
Alphabet Stock Down 0.1 %
Alphabet (NASDAQ:GOOGL – Get Rating) last posted its earnings results on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, beating the consensus estimate of $1.06 by $0.11. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The firm had revenue of $69.79 billion for the quarter, compared to analysts’ expectations of $57.19 billion. During the same period last year, the firm earned $1.23 EPS. As a group, research analysts predict that Alphabet Inc. will post 5.41 earnings per share for the current year.
Insider Activity at Alphabet
In other news, major shareholder 2019 Gp L.L.C. Gv sold 15,000 shares of Alphabet stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $12.77, for a total transaction of $191,550.00. Following the transaction, the insider now directly owns 10,735,324 shares in the company, valued at approximately $137,090,087.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, major shareholder 2019 Gp L.L.C. Gv sold 15,000 shares of Alphabet stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $12.77, for a total transaction of $191,550.00. Following the transaction, the insider now directly owns 10,735,324 shares in the company, valued at approximately $137,090,087.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv purchased 7,286 shares of the stock in a transaction dated Friday, May 5th. The shares were purchased at an average price of $26.98 per share, for a total transaction of $196,576.28. Following the completion of the transaction, the insider now owns 2,647,312 shares in the company, valued at approximately $71,424,477.76. The disclosure for this purchase 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 601,450 shares worth $28,354,856. 0.88% of the stock is owned by insiders.
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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