Keene & Associates Inc. increased its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 41.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,627 shares of the information services provider’s stock after acquiring an additional 1,067 shares during the period. Keene & Associates Inc.’s holdings in Alphabet were worth $376,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in GOOGL. Vanguard Group Inc. boosted its position 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 buying an additional 453,413,389 shares during the period. State Street Corp boosted its position 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 buying an additional 206,300,042 shares during the period. Moneta Group Investment Advisors LLC boosted its position 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 buying an additional 170,267,122 shares during the period. Geode Capital Management LLC boosted its position 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 buying an additional 1,923,667 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position 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 buying an additional 109,870,525 shares during the period. Hedge funds and other institutional investors own 35.38% of the company’s stock.
Insider Buying and Selling at Alphabet
In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the company’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 transaction, the senior vice president now owns 127,028 shares in the company, valued at $15,282,738.68. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 transaction, the insider now owns 10,958,925 shares in the company, valued at approximately $139,397,526. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 16,083 shares of the company’s stock in a transaction dated 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 owns 127,028 shares of the company’s stock, valued at approximately $15,282,738.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 810,248 shares of company stock valued at $25,702,475. 0.88% of the stock is owned by insiders.
Alphabet Price Performance
Alphabet (NASDAQ:GOOGL – Free Report) last posted its quarterly earnings results 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 net margin of 20.58% and a return on equity of 22.84%. The company had revenue of $69.79 billion for the quarter, compared to analyst estimates of $57.19 billion. During the same period in the prior year, the company earned $1.23 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 5.39 EPS for the current year.
Analysts Set New Price Targets
Several research analysts have issued reports on GOOGL shares. Sanford C. Bernstein lowered Alphabet from an “outperform” rating to a “market perform” rating and set a $125.00 target price for the company. in a research report on Tuesday, June 27th. Truist Financial lifted their price target on shares of Alphabet from $120.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, April 26th. Loop Capital downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $125.00 price target for the company. in a research note on Monday, May 15th. Royal Bank of Canada lifted their price target on shares of Alphabet from $130.00 to $132.00 in a research note on Wednesday, April 26th. Finally, Oppenheimer lifted their price target on shares of Alphabet from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. Seven investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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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