Eagle Capital Management LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 0.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,756 shares of the information services provider’s stock after selling 414 shares during the period. Alphabet accounts for approximately 3.6% of Eagle Capital Management LLC’s holdings, making the stock its 12th biggest holding. Eagle Capital Management LLC’s holdings in Alphabet were worth $5,472,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of 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 valued at $45,628,484,000 after acquiring an additional 453,413,389 shares during the last quarter. State Street Corp grew its stake in shares of 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 worth $20,770,809,000 after acquiring an additional 206,300,042 shares in the last quarter. Moneta Group Investment Advisors LLC grew its stake in shares of 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 acquiring an additional 170,267,122 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Alphabet by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 117,077,511 shares of the information services provider’s stock worth $10,310,795,000 after acquiring an additional 1,923,667 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of 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 acquiring an additional 109,870,525 shares in the last quarter. 35.38% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts have recently weighed in on the stock. Royal Bank of Canada raised their price target on shares of Alphabet from $130.00 to $132.00 in a research note on Wednesday, April 26th. Robert W. Baird raised their price target on Alphabet from $120.00 to $123.00 and gave the company an “outperform” rating in a report on Wednesday, April 26th. Needham & Company LLC reissued a “buy” rating and set a $115.00 target price on shares of Alphabet in a report on Monday, April 3rd. Oppenheimer lifted their target price on Alphabet from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Finally, 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. Six equities research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $129.90.
Alphabet Price Performance
Alphabet (NASDAQ:GOOGL – Get Rating) last posted its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, topping 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 company had revenue of $69.79 billion for the quarter, compared to analyst estimates of $57.19 billion. During the same period in the previous year, the firm earned $1.23 earnings per share. As a group, research analysts expect that Alphabet Inc. will post 5.41 EPS for the current year.
Insider Buying and Selling at Alphabet
In other news, insider John Kent Walker sold 29,006 shares of the business’s stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $101.84, for a total transaction of $2,953,971.04. Following the completion of the sale, the insider now owns 24,277 shares in the company, valued at $2,472,369.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider John Kent Walker sold 29,006 shares of the company’s stock in a transaction on Wednesday, March 29th. The stock was sold at an average price of $101.84, for a total transaction of $2,953,971.04. Following the completion of the sale, the insider now owns 24,277 shares in the company, valued at $2,472,369.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Prabhakar Raghavan sold 32,379 shares of the company’s 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 sale, the senior vice president now owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 854,930 shares of company stock valued at $29,996,488. 0.88% of the stock is currently owned by company 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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