Investment Advisory Services Inc. TX ADV lessened its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 16.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,291 shares of the information services provider’s stock after selling 669 shares during the period. Investment Advisory Services Inc. TX ADV’s holdings in Alphabet were worth $342,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of GOOG. State Street Corp grew its position in Alphabet by 1,851.7% in the 3rd quarter. State Street Corp now owns 196,897,894 shares of the information services provider’s stock valued at $18,931,733,000 after buying an additional 186,809,281 shares in the last quarter. Moneta Group Investment Advisors LLC grew its position in Alphabet by 61,587.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock valued at $11,539,004,000 after buying an additional 129,835,437 shares in the last quarter. Alliancebernstein L.P. grew its position in Alphabet by 1,862.3% in the 3rd quarter. Alliancebernstein L.P. now owns 63,184,850 shares of the information services provider’s stock valued at $6,075,223,000 after buying an additional 59,964,963 shares in the last quarter. Bank of New York Mellon Corp grew its position in Alphabet by 1,807.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 57,069,444 shares of the information services provider’s stock valued at $5,487,226,000 after buying an additional 54,077,519 shares in the last quarter. Finally, Norges Bank bought a new position in Alphabet in the 4th quarter valued at about $3,059,614,000. Institutional investors own 27.17% of the company’s stock.
Insider Activity at Alphabet
In related 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 transaction of $68,483.87. Following the transaction, the chief accounting officer now 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 related 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 transaction of $68,483.87. Following the transaction, the chief accounting officer now 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. Also, Director Kavitark Ram Shriram sold 37,500 shares of the stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $105.04, for a total value of $3,939,000.00. Following the transaction, the director now owns 107,240 shares in the company, valued at approximately $11,264,489.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 832,682 shares of company stock valued at $26,077,123. 12.99% of the stock is currently owned by corporate insiders.
Alphabet Price Performance
Alphabet (NASDAQ:GOOG – Get Free Report) last issued its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.11. The firm had revenue of $69.79 billion for the quarter, compared to analyst estimates of $68.80 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.23 earnings per share. Equities research analysts predict that Alphabet Inc. will post 5.39 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several research firms have recently weighed in on GOOG. Raymond James raised their price objective on shares of Alphabet from $119.00 to $130.00 in a research report on Wednesday, April 26th. UBS Group raised their price objective on shares of Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research report on Thursday, April 6th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Alphabet from $120.00 to $125.00 in a research report on Wednesday, April 26th. Oppenheimer reduced their price objective on shares of Alphabet from $155.00 to $135.00 in a research report on Monday, April 24th. Finally, Robert W. Baird raised their price objective on shares of Alphabet from $120.00 to $123.00 in a research report on Wednesday, April 26th. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $131.77.
Alphabet 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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