Advisor OS LLC increased its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 253.0% in the 1st quarter, HoldingsChannel reports. The fund owned 9,851 shares of the information services provider’s stock after buying an additional 7,060 shares during the quarter. Advisor OS LLC’s holdings in Alphabet were worth $1,025,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOG. Moneta Group Investment Advisors LLC grew its holdings in Alphabet by 61,587.1% during 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. Bank of New York Mellon Corp boosted its position in shares of Alphabet by 1,807.4% during 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 acquiring an additional 54,077,519 shares during the last quarter. Norges Bank bought a new position in shares of Alphabet during the 4th quarter valued at approximately $3,059,614,000. Morgan Stanley boosted its position in shares of Alphabet by 37.6% during the 4th quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock valued at $6,368,961,000 after acquiring an additional 19,612,974 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in shares of Alphabet by 1,861.2% during the 3rd quarter. California State Teachers Retirement System now owns 9,390,382 shares of the information services provider’s stock valued at $902,885,000 after acquiring an additional 8,911,579 shares during the last quarter. 27.17% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other news, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The stock was 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 in the company, valued at $2,788,486.87. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Kavitark Ram Shriram sold 37,500 shares of the firm’s stock in a transaction on Friday, May 5th. The stock was sold at an average price of $105.04, for a total transaction of $3,939,000.00. Following the transaction, the director now owns 107,240 shares in the company, valued at $11,264,489.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 637 shares of Alphabet stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total value of $68,483.87. Following the completion of the transaction, the chief accounting officer now owns 25,937 shares in the company, valued at approximately $2,788,486.87. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 832,682 shares of company stock worth $26,077,123. Company insiders own 12.99% of the company’s stock.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOG – Get Free Report) last released its earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share 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 for the quarter, compared to analyst estimates of $68.80 billion. During the same quarter last year, the firm posted $1.23 earnings per share. The business’s revenue was up 2.6% compared to the same quarter last year. Analysts predict that Alphabet Inc. will post 5.39 earnings per share for the current year.
Analyst Ratings Changes
A number of research firms have recently commented on GOOG. Oppenheimer lowered their target price on Alphabet from $155.00 to $135.00 in a research report on Monday, April 24th. Robert W. Baird increased their target price on Alphabet from $120.00 to $123.00 in a research report on Wednesday, April 26th. Raymond James increased their target price on Alphabet from $119.00 to $130.00 in a research report on Wednesday, April 26th. UBS Group raised their price target on Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research report on Thursday, April 6th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Alphabet from $120.00 to $125.00 in a research report on Wednesday, April 26th. One investment analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.
Recommended Stories
- Five stocks we like better than Alphabet
- Contrarian Play: Beyond Meat Is At An Inflection Point
- Alibaba Just Flashed Green, Very Green
- This Small Cap Stock Surged Over 100%
- The CPI Data Isn’t As Good As You Think It Is
- How to Invest in Gold and Silver
Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG – Free Report).
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.
