Seelaus Asset Management LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 8.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,076 shares of the information services provider’s stock after purchasing an additional 2,203 shares during the period. Alphabet accounts for approximately 2.2% of Seelaus Asset Management LLC’s portfolio, making the stock its 3rd largest position. Seelaus Asset Management LLC’s holdings in Alphabet were worth $2,934,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Alphabet by 1,919.4% in 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 buying an additional 453,413,389 shares during the last quarter. State Street Corp raised its holdings in shares of Alphabet by 1,900.6% in the third 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 during the last quarter. Moneta Group Investment Advisors LLC raised its holdings in shares of Alphabet by 111,197.8% in the fourth 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 during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Alphabet by 1,759.2% in the third 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 during the last quarter. Finally, Norges Bank purchased a new stake in shares of Alphabet in the fourth quarter valued at about $8,335,063,000. Institutional investors and hedge funds own 35.38% of the company’s stock.
Insider Buying and Selling at Alphabet
In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 25,937 shares of the company’s stock, valued at $2,788,486.87. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, 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 transaction of $68,483.87. Following the transaction, the chief accounting officer now directly owns 25,937 shares of the company’s stock, valued at $2,788,486.87. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 16,083 shares of Alphabet stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the transaction, the senior vice president now directly owns 127,028 shares in the company, valued at $15,282,738.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 810,248 shares of company stock valued at $25,702,475. 0.88% of the stock is currently owned by insiders.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOGL – Free Report) last issued its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $57.19 billion. During the same quarter last year, the business posted $1.23 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 5.39 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on GOOGL. Evercore ISI upped their target price on shares of Alphabet from $125.00 to $130.00 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 price target on shares of Alphabet in a report on Monday, April 3rd. Sanford C. Bernstein lowered shares of Alphabet from an “outperform” rating to a “market perform” rating and set a $125.00 target price on the stock. in a research report on Tuesday, June 27th. Loop Capital lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. in a research report on Monday, May 15th. Finally, Wolfe Research upped their target price on shares of Alphabet from $120.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 26th. Seven research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $129.54.
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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