WestEnd Advisors LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 6.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 339,398 shares of the information services provider’s stock after purchasing an additional 21,872 shares during the period. Alphabet makes up 1.1% of WestEnd Advisors LLC’s portfolio, making the stock its 19th largest position. WestEnd Advisors LLC’s holdings in Alphabet were worth $35,206,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased 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 buying an additional 453,413,389 shares during the period. State Street Corp grew its holdings in shares of Alphabet by 1,900.6% during the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after acquiring an additional 206,300,042 shares during the period. Moneta Group Investment Advisors LLC grew its holdings in shares of Alphabet by 111,197.8% during the 4th 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 acquiring an additional 170,267,122 shares during the period. Geode Capital Management LLC raised its position in shares of Alphabet by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 117,077,511 shares of the information services provider’s stock worth $10,310,795,000 after acquiring an additional 1,923,667 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted 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 valued at $11,106,502,000 after purchasing an additional 109,870,525 shares during the period. Hedge funds and other institutional investors own 35.38% of the company’s stock.
Alphabet Stock Up 1.3 %
NASDAQ GOOGL opened at $121.53 on Tuesday. The stock’s 50-day moving average price is $122.10 and its 200-day moving average price is $107.74. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $129.04. The company has a market capitalization of $1.54 trillion, a P/E ratio of 27.07, a price-to-earnings-growth ratio of 1.53 and a beta of 1.06.
Insider Transactions at Alphabet
In related news, SVP Prabhakar Raghavan sold 16,083 shares of Alphabet stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the sale, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Amie Thuener O’toole sold 637 shares of Alphabet stock in a transaction that occurred 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 sale, the chief accounting officer now owns 25,937 shares of the company’s stock, valued at approximately $2,788,486.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 16,083 shares of Alphabet stock in a transaction that occurred 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 sale, the senior vice president now directly owns 127,028 shares in the company, valued at approximately $15,282,738.68. The disclosure for this sale can be found here. Insiders have sold 841,688 shares of company stock valued at $29,376,932 over the last quarter. 0.88% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the company. StockNews.com began coverage on Alphabet in a report on Thursday, May 18th. They issued a “buy” rating for the company. Oppenheimer increased their price target on shares of Alphabet from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. TD Cowen boosted their price objective on shares of Alphabet from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, July 13th. Evercore ISI raised their target price on shares of Alphabet from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. Finally, Wells Fargo & Company initiated coverage on Alphabet in a research report on Wednesday, June 7th. They issued an “equal weight” rating and a $117.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $132.21.
About Alphabet
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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