Signet Financial Management LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 2.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,894 shares of the information services provider’s stock after selling 328 shares during the quarter. Signet Financial Management LLC’s holdings in Alphabet were worth $1,441,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of 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 purchasing an additional 453,413,389 shares during the last quarter. State Street Corp increased its position in 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 valued at $20,770,809,000 after buying an additional 206,300,042 shares in the last quarter. Moneta Group Investment Advisors LLC increased its position 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 valued at $15,036,178,000 after buying an additional 170,267,122 shares in the last quarter. Geode Capital Management LLC increased its position in 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 valued at $10,310,795,000 after buying an additional 1,923,667 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased 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 valued at $11,106,502,000 after buying an additional 109,870,525 shares in the last quarter. 35.38% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
GOOGL has been the topic of several recent analyst reports. StockNews.com initiated coverage on Alphabet in a research report on Thursday, May 18th. They set a “buy” rating on the stock. Morgan Stanley upped their target price on Alphabet from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Wednesday, April 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $115.00 target price on shares of Alphabet in a research report on Monday, April 3rd. Evercore ISI upped their target price on Alphabet from $125.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, April 26th. Finally, Piper Sandler increased their price objective on Alphabet from $117.00 to $128.00 and gave the company an “overweight” rating in a report on Wednesday, April 26th. Seven equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $129.63.
Alphabet Stock Down 0.9 %
Alphabet (NASDAQ:GOOGL – Free Report) last issued its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, beating the consensus estimate 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 last year, the company earned $1.23 earnings per share. Analysts predict that Alphabet Inc. will post 5.39 earnings per share for the current fiscal year.
Insider Transactions at Alphabet
In other news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of Alphabet stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $14.13, for a total value of $1,423,908.36. Following the sale, the insider now directly owns 11,421,476 shares of the company’s stock, valued at $161,385,455.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 32,379 shares of the business’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $103.46, for a total transaction of $3,349,931.34. Following the transaction, the senior vice president now 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 accessible through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the business’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $14.13, for a total value of $1,423,908.36. Following the transaction, the insider now directly owns 11,421,476 shares in the company, valued at approximately $161,385,455.88. The disclosure for this sale can be found here. Insiders have sold 826,544 shares of company stock valued at $27,117,461 over the last ninety days. Insiders own 0.88% of the company’s stock.
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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