MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 4.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 248,431 shares of the information services provider’s stock after buying an additional 11,459 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Alphabet were worth $25,770,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Alphabet by 1,919.4% in the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after purchasing an additional 453,413,389 shares in the last quarter. State Street Corp lifted its position in Alphabet by 1,900.6% in 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 buying an additional 206,300,042 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its stake in 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 worth $15,036,178,000 after buying an additional 170,267,122 shares in the last quarter. Geode Capital Management LLC grew its position in 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 during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake 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 worth $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.
Analysts Set New Price Targets
Several equities analysts recently commented on GOOGL shares. 1-800-FLOWERS.COM reaffirmed a “downgrade” rating on shares of Alphabet in a report on Monday, May 15th. Royal Bank of Canada lifted their price objective on Alphabet from $130.00 to $132.00 in a report on Wednesday, April 26th. Jefferies Financial Group increased their target price on Alphabet from $130.00 to $150.00 in a report on Tuesday, May 23rd. Robert W. Baird lifted their price target on Alphabet from $120.00 to $123.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. Finally, Piper Sandler boosted their price objective on Alphabet from $128.00 to $140.00 in a research report on Wednesday. Seven investment 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. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $129.54.
Alphabet Price Performance
Alphabet (NASDAQ:GOOGL – Free Report) last posted its earnings results on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. 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 company earned $1.23 EPS. As a group, equities analysts expect that Alphabet Inc. will post 5.39 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, SVP Prabhakar Raghavan sold 16,083 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $120.31, for a total value of $1,934,945.73. Following the transaction, the senior vice president now directly owns 127,028 shares in the company, valued at approximately $15,282,738.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Alphabet news, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total value of $25,130.00. Following the transaction, the director now directly owns 5,740 shares in the company, valued at $721,231. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 owns 127,028 shares in the company, valued at approximately $15,282,738.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 810,248 shares of company stock valued at $25,702,475. Company insiders own 0.88% of the company’s stock.
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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