ARK Investment Management LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 2.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 239,160 shares of the information services provider’s stock after selling 6,832 shares during the period. ARK Investment Management LLC’s holdings in Alphabet were worth $24,873,000 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 1,885.5% in 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 purchasing an additional 400,930,216 shares during the last quarter. BlackRock Inc. grew its position in Alphabet by 1,857.3% in the 3rd quarter. BlackRock Inc. now owns 364,589,580 shares of the information services provider’s stock worth $35,055,286,000 after purchasing an additional 345,962,033 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake 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 valued at $19,639,414,000 after purchasing an additional 192,607,045 shares during the period. State Street Corp raised its holdings in shares of Alphabet by 1,851.7% during the third quarter. State Street Corp now owns 196,897,894 shares of the information services provider’s stock valued at $18,931,733,000 after buying an additional 186,809,281 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC boosted its position in shares of Alphabet by 61,587.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock worth $11,539,004,000 after buying an additional 129,835,437 shares during the period. 27.17% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Alphabet news, SVP Prabhakar Raghavan sold 32,379 shares of the company’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 transaction, the senior vice president now owns 76,580 shares in the company, valued at approximately $7,922,966.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, SVP Prabhakar Raghavan sold 32,379 shares of the company’s stock in a transaction 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 transaction, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 637 shares of Alphabet stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total value of $68,483.87. Following the sale, the chief accounting officer now directly owns 25,937 shares of the company’s stock, valued at approximately $2,788,486.87. The disclosure for this sale can be found here. Over the last three months, insiders sold 848,738 shares of company stock worth $27,463,304. 12.99% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Alphabet Stock Performance
Shares of GOOG stock opened at $121.08 on Thursday. The company has a market capitalization of $1.54 trillion, a price-to-earnings ratio of 26.97, a P/E/G ratio of 1.52 and a beta of 1.09. Alphabet Inc. has a 1-year low of $83.45 and a 1-year high of $129.55. 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 stock’s fifty day simple moving average is $118.18 and its 200-day simple moving average is $104.28.
Alphabet (NASDAQ:GOOG – Free Report) last announced 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. The firm had revenue of $69.79 billion during the quarter, compared to analyst estimates of $68.80 billion. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the company posted $1.23 EPS. On average, sell-side analysts predict that Alphabet Inc. will post 5.41 earnings per share for the current fiscal year.
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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