Reaves W H & Co. Inc. lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 50.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 66,344 shares of the information services provider’s stock after selling 67,286 shares during the period. Reaves W H & Co. Inc.’s holdings in Alphabet were worth $5,854,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in 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 valued at $45,628,484,000 after acquiring an additional 453,413,389 shares in the last quarter. State Street Corp grew its stake in Alphabet by 1,900.6% during 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 acquiring an additional 206,300,042 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Alphabet by 1,759.2% during 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 in the last quarter. Massachusetts Financial Services Co. MA grew its stake in 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 valued at $5,847,474,000 after acquiring an additional 58,159,150 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in 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 in the last quarter. Institutional investors and hedge funds own 34.06% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the stock. Royal Bank of Canada upped their price objective on shares of Alphabet from $130.00 to $132.00 in a research note on Wednesday, April 26th. Credit Suisse Group dropped their price objective on shares of Alphabet from $136.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, April 26th. Roth Mkm upped their price objective on shares of Alphabet from $126.00 to $134.00 and gave the company a “buy” rating in a research note on Wednesday, April 26th. 1-800-FLOWERS.COM reissued a “downgrade” rating on shares of Alphabet in a research note on Monday, May 15th. Finally, UBS Group increased their price target on shares of Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research note on Thursday, April 6th. Four research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $130.06.
Alphabet Price Performance
Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, topping the consensus estimate of $1.06 by $0.11. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The firm had revenue of $69.79 billion for the quarter, compared to analyst estimates of $57.19 billion. During the same period last year, the business earned $1.23 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 5.41 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $90.15, for a total transaction of $57,425.55. Following the transaction, the chief accounting officer now directly owns 25,442 shares of the company’s stock, valued at approximately $2,293,596.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 sale, the director now owns 11,300 shares of the company’s stock, valued at $1,017,565. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 637 shares of Alphabet stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $90.15, for a total transaction of $57,425.55. Following the completion of the sale, the chief accounting officer now directly owns 25,442 shares in the company, valued at approximately $2,293,596.30. The disclosure for this sale can be found here. In the last three months, insiders have acquired 732,217 shares of company stock valued at $21,135,371 and have sold 601,450 shares valued at $28,354,856. 0.88% of the stock is currently 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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