Key Client Fiduciary Advisors LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOG – Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 2,323 shares of the information services provider’s stock, valued at approximately $242,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in GOOG. Moneta Group Investment Advisors LLC lifted its stake in shares of 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 purchasing an additional 129,835,437 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of 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 purchasing an additional 54,077,519 shares during the period. Norges Bank acquired a new position in shares of Alphabet in the 4th quarter valued at about $3,059,614,000. Morgan Stanley lifted its stake in shares of Alphabet by 37.6% in 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 purchasing an additional 19,612,974 shares during the period. Finally, California State Teachers Retirement System increased its position in Alphabet by 1,861.2% in 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 buying an additional 8,911,579 shares in the last quarter. 27.17% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total value of $25,130.00. Following the completion of the transaction, the director now directly owns 5,740 shares of the company’s stock, valued at $721,231. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the company’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $14.13, for a total value of $1,423,908.36. Following the transaction, the insider now owns 11,421,476 shares in the company, valued at $161,385,455.88. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 200 shares of the company’s 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 completion of the transaction, the director now owns 5,740 shares in the company, valued at approximately $721,231. The disclosure for this sale can be found here. Insiders sold a total of 832,882 shares of company stock valued at $26,102,123 over the last three months. Corporate 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 (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.11. The company had revenue of $69.79 billion during the quarter, compared to analyst estimates of $68.80 billion. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. Alphabet’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.23 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 5.39 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of analysts recently commented on the company. UBS Group boosted their target price on 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 boosted their target price on Alphabet from $120.00 to $125.00 in a research report on Wednesday, April 26th. Oppenheimer decreased their target price on Alphabet from $155.00 to $135.00 in a research report on Monday, April 24th. Raymond James boosted their target price on Alphabet from $119.00 to $130.00 in a research report on Wednesday, April 26th. Finally, Robert W. Baird boosted their target price on Alphabet from $120.00 to $123.00 in a research report on Wednesday, April 26th. One analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $131.77.
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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