PBMares Wealth Management LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 4.0% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 4,731 shares of the information services provider’s stock after buying an additional 181 shares during the period. PBMares Wealth Management LLC’s holdings in Alphabet were worth $491,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in GOOGL. Vanguard Group Inc. raised its holdings in 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 worth $45,628,484,000 after purchasing an additional 453,413,389 shares in the last quarter. State Street Corp raised its holdings in 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 worth $20,770,809,000 after purchasing an additional 206,300,042 shares in the last quarter. Moneta Group Investment Advisors LLC raised its holdings in 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 worth $15,036,178,000 after purchasing an additional 170,267,122 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in 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 purchasing an additional 109,870,525 shares in the last quarter. Finally, Norges Bank purchased a new position in Alphabet during the fourth quarter worth about $8,335,063,000. 35.38% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, Director Kavitark Ram Shriram sold 31,240 shares of the firm’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $116.82, for a total value of $3,649,456.80. Following the transaction, the director now owns 5,364 shares of the company’s stock, valued at approximately $626,622.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP Prabhakar Raghavan sold 16,083 shares of the firm’s stock in a transaction on 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 transaction, the senior vice president now owns 127,028 shares of the company’s stock, valued at approximately $15,282,738.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 31,240 shares of the firm’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $116.82, for a total transaction of $3,649,456.80. Following the completion of the transaction, the director now directly owns 5,364 shares in the company, valued at approximately $626,622.48. The disclosure for this sale can be found here. Insiders have sold a total of 841,688 shares of company stock valued at $29,376,932 over the last quarter. Company insiders own 0.88% of the company’s stock.
Analyst Upgrades and Downgrades
Alphabet Stock Performance
NASDAQ:GOOGL opened at $120.02 on Monday. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05. The company has a market cap of $1.52 trillion, a P/E ratio of 26.73, a P/E/G ratio of 1.53 and a beta of 1.06. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $129.04. The firm’s 50 day moving average is $122.00 and its two-hundred day moving average is $107.49.
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly 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. The company had revenue of $69.79 billion for the quarter, compared to the consensus estimate of $57.19 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. During the same quarter last year, the firm posted $1.23 earnings per share. Analysts expect that Alphabet Inc. will post 5.39 EPS for the current year.
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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