EULAV Asset Management Sells 1,999 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Jul 24th, 2023

EULAV Asset Management lowered its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 190,001 shares of the information services provider’s stock after selling 1,999 shares during the period. EULAV Asset Management’s holdings in Alphabet were worth $19,709,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of 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 valued at $45,628,484,000 after purchasing an additional 453,413,389 shares in the last quarter. State Street Corp grew its holdings in Alphabet by 1,900.6% in 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 during the period. Moneta Group Investment Advisors LLC increased its stake in shares of 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 valued at $15,036,178,000 after purchasing an additional 170,267,122 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 1,923,667 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Alphabet by 1,759.2% in the 3rd 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 buying an additional 109,870,525 shares during the last quarter. 35.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on GOOGL. UBS Group cut Alphabet from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $123.00 to $132.00 in a research note on Monday, June 26th. Jefferies Financial Group increased their price objective on shares of Alphabet from $130.00 to $150.00 in a research report on Tuesday, May 23rd. Bank of America increased their price target on shares of Alphabet from $128.00 to $142.00 and gave the company a “buy” rating in a report on Thursday. Needham & Company LLC restated a “buy” rating and issued a $115.00 price objective on shares of Alphabet in a report on Monday, April 3rd. Finally, Royal Bank of Canada increased their target price on Alphabet from $130.00 to $132.00 in a research note on Wednesday, April 26th. Six research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.21.

Insiders Place Their Bets

In other news, SVP Prabhakar Raghavan sold 16,083 shares of the firm’s stock in a transaction dated 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 completion of the sale, the senior vice president now owns 127,028 shares in the company, valued at approximately $15,282,738.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the firm’s stock in a transaction dated 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 completion of the sale, the senior vice president now owns 127,028 shares of the company’s stock, valued at $15,282,738.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $12.72, for a total value of $347,128.80. Following the transaction, the insider now owns 10,958,925 shares of the company’s stock, valued at approximately $139,397,526. The disclosure for this sale can be found here. Insiders sold 841,688 shares of company stock valued at $29,376,932 over the last three months. 0.88% of the stock is owned by company insiders.

Alphabet Trading Up 0.7 %

GOOGL opened at $120.02 on Monday. The stock has a 50-day moving average of $122.00 and a 200 day moving average of $107.49. The company has a current ratio of 2.35, a quick ratio of 2.32 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $129.04. The firm 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 (NASDAQ:GOOGL – Get Free Report) last announced 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. The firm had revenue of $69.79 billion during the quarter, compared to analysts’ expectations of $57.19 billion. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. During the same quarter in the previous year, the business earned $1.23 EPS. As a group, research analysts forecast that Alphabet Inc. will post 5.39 EPS for the current year.

About Alphabet

(Free Report)

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.