Founders Capital Management LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 11.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,850 shares of the information services provider’s stock after purchasing an additional 8,084 shares during the period. Alphabet comprises approximately 2.1% of Founders Capital Management LLC’s holdings, making the stock its 17th largest holding. Founders Capital Management LLC’s holdings in Alphabet were worth $8,490,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in GOOGL. Vanguard Group Inc. raised its stake in shares of Alphabet by 1,919.4% during 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 acquiring an additional 453,413,389 shares in the last quarter. State Street Corp increased its holdings 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 worth $20,770,809,000 after purchasing an additional 206,300,042 shares during the period. Moneta Group Investment Advisors LLC raised 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 purchasing an additional 170,267,122 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Alphabet by 1,759.2% in 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 buying an additional 109,870,525 shares during the period. Finally, Norges Bank purchased a new stake in shares of Alphabet in the 4th quarter worth $8,335,063,000. 35.38% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other news, major shareholder 2021 Gp L.L.C. Gv acquired 309,931 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The shares were bought at an average price of $28.34 per share, for a total transaction of $8,783,444.54. Following the acquisition, 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 document filed with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the company’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $12.72, for a total transaction of $347,128.80. Following the completion of the sale, the insider now owns 10,958,925 shares of the company’s stock, valued at approximately $139,397,526. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv bought 309,931 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The stock was acquired at an average cost of $28.34 per share, for a total transaction of $8,783,444.54. Following the completion of the purchase, the insider now directly owns 2,243,665 shares in the company, valued at $63,585,466.10. The disclosure for this purchase can be found here. In the last three months, insiders sold 794,165 shares of company stock worth $23,767,530. Corporate insiders own 0.88% of the company’s stock.
Alphabet Trading Up 0.2 %
Alphabet (NASDAQ:GOOGL – Free Report) last announced 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. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The business had revenue of $69.79 billion for the quarter, compared to analyst estimates of $57.19 billion. During the same quarter last year, the business earned $1.23 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post 5.39 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several analysts recently weighed in on the company. Morgan Stanley lifted their price objective on Alphabet from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday, April 26th. Wells Fargo & Company began coverage on shares of Alphabet in a report on Wednesday, June 7th. They set an “equal weight” rating and a $117.00 price objective on the stock. 1-800-FLOWERS.COM restated a “downgrade” rating on shares of Alphabet in a report on Monday, May 15th. Citigroup raised their price target on shares of Alphabet from $120.00 to $130.00 in a report on Wednesday, April 26th. Finally, StockNews.com assumed coverage on Alphabet in a research note on Thursday, May 18th. They set a “buy” rating on the stock. Seven 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 stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $129.63.
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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