JFS Wealth Advisors LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 7.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,289 shares of the information services provider’s stock after selling 1,571 shares during the quarter. JFS Wealth Advisors LLC’s holdings in Alphabet were worth $1,897,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in 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 buying an additional 453,413,389 shares during the period. State Street Corp increased its holdings in shares of Alphabet by 1,900.6% during 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 acquiring an additional 206,300,042 shares in the last quarter. Moneta Group Investment Advisors LLC increased its holdings in shares of Alphabet by 111,197.8% during 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 acquiring an additional 170,267,122 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Alphabet by 1.7% during the fourth 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 acquiring an additional 1,923,667 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Alphabet by 1,759.2% during 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 acquiring an additional 109,870,525 shares in the last quarter. Hedge funds and other institutional investors own 35.38% of the company’s stock.
Insider Transactions at Alphabet
In other news, SVP Prabhakar Raghavan sold 16,083 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $120.31, for a total value of $1,934,945.73. Following the completion of the sale, the senior vice president now owns 127,028 shares in the company, valued at approximately $15,282,738.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Prabhakar Raghavan sold 16,083 shares of Alphabet stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the completion of the sale, the senior vice president now owns 127,028 shares in the company, valued at approximately $15,282,738.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of Alphabet stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $14.13, for a total transaction of $1,423,908.36. Following the sale, the insider now owns 11,421,476 shares of the company’s stock, valued at approximately $161,385,455.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 810,248 shares of company stock worth $25,702,475. 0.88% of the stock is currently owned by insiders.
Alphabet Price Performance
Alphabet (NASDAQ:GOOGL – Free Report) last released its earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.11. The firm had revenue of $69.79 billion during the quarter, compared to analyst estimates of $57.19 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. During the same quarter last year, the business earned $1.23 EPS. As a group, equities research analysts forecast that Alphabet Inc. will post 5.39 EPS for the current year.
Wall Street Analysts Forecast Growth
GOOGL has been the subject of several analyst reports. Truist Financial raised their price target on Alphabet from $120.00 to $122.00 and gave the company a “buy” rating in a report on Wednesday, April 26th. Needham & Company LLC restated a “buy” rating and set a $115.00 price target on shares of Alphabet in a report on Monday, April 3rd. Jefferies Financial Group raised their price target on Alphabet from $130.00 to $150.00 in a report on Tuesday, May 23rd. Piper Sandler raised their price target on Alphabet from $128.00 to $140.00 in a report on Wednesday. Finally, Loop Capital downgraded Alphabet from a “buy” rating to a “hold” rating and set a $125.00 price objective for the company. in a report on Monday, May 15th. Seven analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.54.
About Alphabet
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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