Rockefeller Capital Management L.P. Grows Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Jun 18th, 2023

Rockefeller Capital Management L.P. lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 8.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,534,738 shares of the information services provider’s stock after purchasing an additional 203,456 shares during the period. Alphabet comprises about 1.1% of Rockefeller Capital Management L.P.’s investment portfolio, making the stock its 8th biggest position. Rockefeller Capital Management L.P.’s holdings in Alphabet were worth $223,638,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in 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 acquiring an additional 453,413,389 shares during the last quarter. State Street Corp grew its holdings in 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 worth $20,770,809,000 after acquiring an additional 206,300,042 shares during the last quarter. Moneta Group Investment Advisors LLC grew its holdings in Alphabet by 111,197.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock worth $15,036,178,000 after acquiring an additional 170,267,122 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in 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 worth $11,106,502,000 after acquiring an additional 109,870,525 shares during the last quarter. Finally, Norges Bank bought a new stake in Alphabet in the 4th quarter worth $8,335,063,000. Institutional investors own 34.06% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 28,960 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $14.87, for a total value of $430,635.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder 2021 Gp L.L.C. Gv bought 309,931 shares of the stock in a transaction dated Wednesday, May 3rd. The shares were purchased at an average price of $28.34 per share, with a total value of $8,783,444.54. Following the completion of the acquisition, the insider now owns 2,243,665 shares of the company’s stock, valued at $63,585,466.10. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 28,960 shares of the business’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $14.87, for a total transaction of $430,635.20. The disclosure for this sale can be found here. Insiders sold a total of 810,993 shares of company stock worth $29,335,058 over the last three months. 0.88% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $123.53 on Friday. The firm has a 50 day moving average of $115.08 and a 200 day moving average of $102.35. The company has a current ratio of 2.35, a quick ratio of 2.32 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $1.57 trillion, a price-to-earnings ratio of 27.51, a price-to-earnings-growth ratio of 1.59 and a beta of 1.09. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $129.04.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. The business had revenue of $69.79 billion during the quarter, compared to analyst estimates of $57.19 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. During the same period in the prior year, the business posted $1.23 earnings per share. On average, research analysts anticipate that Alphabet Inc. will post 5.41 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GOOGL shares. JMP Securities reissued a “market outperform” rating and issued a $132.00 price target on shares of Alphabet in a report on Thursday, March 16th. Credit Suisse Group cut their target price on shares of Alphabet from $136.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 26th. Royal Bank of Canada lifted their target price on shares of Alphabet from $130.00 to $132.00 in a research note on Wednesday, April 26th. 1-800-FLOWERS.COM reaffirmed a “downgrade” rating on shares of Alphabet in a research note on Monday, May 15th. Finally, UBS Group lifted their target price 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. Five equities research analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $129.67.

Alphabet Company Profile

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Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.