Gulf International Bank UK Ltd trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 22.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 718,580 shares of the information services provider’s stock after selling 211,820 shares during the quarter. Alphabet accounts for approximately 1.6% of Gulf International Bank UK Ltd’s investment portfolio, making the stock its 7th largest position. Gulf International Bank UK Ltd’s holdings in Alphabet were worth $74,732,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Alphabet by 1,885.5% during the 3rd quarter. Vanguard Group Inc. now owns 422,194,039 shares of the information services provider’s stock valued at $40,593,957,000 after acquiring an additional 400,930,216 shares during the period. BlackRock Inc. boosted its stake in shares of Alphabet by 1,857.3% during the third quarter. BlackRock Inc. now owns 364,589,580 shares of the information services provider’s stock valued at $35,055,286,000 after purchasing an additional 345,962,033 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Alphabet by 1,770.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 203,484,912 shares of the information services provider’s stock worth $19,639,414,000 after purchasing an additional 192,607,045 shares during the last quarter. State Street Corp increased its stake in Alphabet by 1,851.7% in the 3rd quarter. State Street Corp now owns 196,897,894 shares of the information services provider’s stock worth $18,931,733,000 after buying an additional 186,809,281 shares during the period. Finally, Moneta Group Investment Advisors LLC lifted its holdings in Alphabet by 61,587.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock valued at $11,539,004,000 after buying an additional 129,835,437 shares in the last quarter. Institutional investors own 27.17% of the company’s stock.
Insider Transactions at Alphabet
In related news, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of the company’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $15.06, for a total value of $563,319.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder 2021 Gp L.L.C. Gv purchased 309,931 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were purchased at an average cost of $28.34 per share, with a total value of $8,783,444.54. Following the purchase, the insider now owns 2,243,665 shares of the company’s stock, valued at approximately $63,585,466.10. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of the business’s stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $15.06, for a total value of $563,319.30. The disclosure for this sale can be found here. Insiders have sold a total of 877,364 shares of company stock valued at $30,371,135 in the last ninety days. 12.99% of the stock is currently owned by corporate insiders.
Alphabet Stock Down 0.7 %
Alphabet (NASDAQ:GOOG – Get Rating) last posted its earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.11. The firm had revenue of $69.79 billion during the quarter, compared to analysts’ expectations of $68.80 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.23 EPS. As a group, equities research analysts anticipate that Alphabet Inc. will post 5.41 EPS for the current year.
Wall Street Analyst Weigh In
A number of brokerages have commented on GOOG. Oppenheimer dropped their target price on shares of Alphabet from $155.00 to $135.00 in a research note on Monday, April 24th. Raymond James raised their price objective on Alphabet from $119.00 to $130.00 in a report on Wednesday, April 26th. UBS Group increased their price target on Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research report on Thursday, April 6th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Alphabet from $120.00 to $125.00 in a report on Wednesday, April 26th. Finally, Robert W. Baird boosted their target price on shares of Alphabet from $120.00 to $123.00 in a report on Wednesday, April 26th. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $132.80.
Alphabet Company Profile
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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