Tiaa Fsb boosted its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 2.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,039,371 shares of the information services provider’s stock after buying an additional 29,685 shares during the quarter. Tiaa Fsb’s holdings in Alphabet were worth $107,814,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bornite Capital Management LP bought a new position in shares of Alphabet during the 1st quarter valued at $16,688,000. Markel Corp raised its holdings in shares of Alphabet by 17.0% during the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after purchasing an additional 2,250 shares in the last quarter. United Bank raised its holdings in shares of Alphabet by 5.9% during the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after purchasing an additional 113 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Alphabet by 23.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after purchasing an additional 61,427 shares in the last quarter. Finally, Dakota Wealth Management raised its holdings in shares of Alphabet by 20.4% during the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after purchasing an additional 1,570 shares in the last quarter. Hedge funds and other institutional investors own 35.38% of the company’s stock.
Insider Activity at Alphabet
In related news, CAO Amie Thuener O’toole sold 637 shares of Alphabet stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total transaction of $68,483.87. Following the completion of the transaction, the chief accounting officer now directly owns 25,937 shares of the company’s stock, valued at approximately $2,788,486.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder 2021 Gp L.L.C. Gv bought 309,931 shares of the company’s stock in a transaction on Wednesday, May 3rd. The stock was bought at an average cost of $28.34 per share, with a total value of $8,783,444.54. Following the completion of the purchase, the insider now owns 2,243,665 shares in the company, valued at approximately $63,585,466.10. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 637 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $107.51, for a total transaction of $68,483.87. Following the completion of the transaction, the chief accounting officer now directly owns 25,937 shares of the company’s stock, valued at $2,788,486.87. The disclosure for this sale can be found here. Insiders sold 794,165 shares of company stock valued at $23,767,530 in the last ninety days. Insiders own 0.88% of the company’s stock.
Wall Street Analyst Weigh In
Alphabet Trading Up 0.2 %
Shares of GOOGL stock opened at $119.90 on Wednesday. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $129.04. The company has a market capitalization of $1.52 trillion, a P/E ratio of 26.70, a P/E/G ratio of 1.53 and a beta of 1.06. The firm has a 50-day moving average price of $118.69 and a 200 day moving average price of $104.50. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05.
Alphabet (NASDAQ:GOOGL – Free Report) last announced its quarterly 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 firm had revenue of $69.79 billion during the quarter, compared to the consensus estimate of $57.19 billion. During the same period last year, the firm posted $1.23 EPS. Research analysts forecast that Alphabet Inc. will post 5.39 earnings per share for the current fiscal year.
Alphabet Company 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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