Accurate Wealth Management LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 39.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 8,637 shares of the information services provider’s stock after acquiring an additional 2,422 shares during the period. Accurate Wealth Management LLC’s holdings in Alphabet were worth $919,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Alphabet by 1,919.4% in the third 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 last quarter. State Street Corp raised its position 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 valued at $20,770,809,000 after purchasing an additional 206,300,042 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its stake in Alphabet by 111,197.8% during 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 purchasing an additional 170,267,122 shares during the period. Price T Rowe Associates Inc. MD grew 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 purchasing an additional 109,870,525 shares during the last quarter. Finally, Norges Bank acquired a new position in Alphabet in the fourth quarter valued at $8,335,063,000. 35.38% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on GOOGL. Robert W. Baird raised their price target on Alphabet from $120.00 to $123.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Sanford C. Bernstein lowered their target price on Alphabet from $130.00 to $125.00 and set an “outperform” rating on the stock in a research note on Thursday, April 20th. Wells Fargo & Company initiated coverage on Alphabet in a research note on Wednesday, June 7th. They set an “equal weight” rating and a $117.00 price target for the company. Loop Capital lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $125.00 price objective on the stock. in a research report on Monday, May 15th. Finally, Jefferies Financial Group upped their price objective on shares of Alphabet from $130.00 to $150.00 in a research report on Tuesday, May 23rd. Six research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.90.
Alphabet Stock Down 3.3 %
Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The business had revenue of $69.79 billion during the quarter, compared to the consensus estimate of $57.19 billion. During the same quarter in the previous year, the business earned $1.23 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 5.41 EPS for the current year.
Insider Activity
In related news, SVP Prabhakar Raghavan sold 32,379 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $103.46, for a total value of $3,349,931.34. Following the sale, the senior vice president now directly owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction, the senior vice president now directly owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of the business’s stock in a transaction dated Tuesday, June 20th. The shares were 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 sold a total of 854,930 shares of company stock valued at $29,996,488 in the last 90 days. 0.88% of the stock is currently owned by insiders.
Alphabet 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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