Mutual Advisors LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 144,562 shares of the information services provider’s stock after purchasing an additional 1,934 shares during the period. Alphabet comprises about 0.6% of Mutual Advisors LLC’s holdings, making the stock its 21st largest position. Mutual Advisors LLC’s holdings in Alphabet were worth $14,995,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position 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 worth $45,628,484,000 after acquiring an additional 453,413,389 shares during the period. State Street Corp raised its stake in shares of Alphabet by 1,900.6% during the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after purchasing an additional 206,300,042 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in shares of Alphabet by 111,197.8% during the fourth 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 purchasing an additional 170,267,122 shares during the period. Geode Capital Management LLC grew its position in Alphabet by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 117,077,511 shares of the information services provider’s stock valued at $10,310,795,000 after buying an additional 1,923,667 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position 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 worth $11,106,502,000 after buying an additional 109,870,525 shares during the last quarter. 35.38% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on GOOGL. Wolfe Research increased their price target on shares of Alphabet from $120.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Truist Financial raised their price target on Alphabet from $120.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, April 26th. JMP Securities reaffirmed a “market outperform” rating and set a $132.00 price objective on shares of Alphabet in a report on Thursday, March 16th. BNP Paribas raised Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 target price for the company in a report on Friday, March 17th. Finally, Robert W. Baird increased their price target on shares of Alphabet from $120.00 to $123.00 and gave the company an “outperform” rating in a report on Wednesday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $129.67.
Alphabet Trading Down 0.7 %
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. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The company had revenue of $69.79 billion for the quarter, compared to the consensus estimate of $57.19 billion. During the same quarter last year, the firm posted $1.23 earnings per share. As a group, equities analysts forecast that Alphabet Inc. will post 5.41 EPS for the current year.
Insider Activity at Alphabet
In related news, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $12.72, for a total value of $347,128.80. Following the transaction, the insider now owns 10,958,925 shares in the company, valued at $139,397,526. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, SVP Prabhakar Raghavan sold 32,379 shares of the stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $103.46, for a total value of $3,349,931.34. Following the completion of the sale, the senior vice president now directly owns 76,580 shares in the company, valued at approximately $7,922,966.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the business’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $12.72, for a total value of $347,128.80. Following the transaction, the insider now owns 10,958,925 shares in the company, valued at approximately $139,397,526. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 854,930 shares of company stock worth $29,996,488. 0.88% of the stock is owned by insiders.
About Alphabet
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.
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