Crescent Grove Advisors LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 24.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,351 shares of the information services provider’s stock after purchasing an additional 1,830 shares during the quarter. Crescent Grove Advisors LLC’s holdings in Alphabet were worth $970,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Alphabet by 1,919.4% in the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after acquiring an additional 453,413,389 shares in the last quarter. State Street Corp increased its stake in shares of Alphabet by 1,900.6% in 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 in the last quarter. Moneta Group Investment Advisors LLC increased its stake in shares of Alphabet by 111,197.8% in 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 in the last quarter. Price T Rowe Associates Inc. MD increased 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 acquiring an additional 109,870,525 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Alphabet in the 4th quarter worth about $8,335,063,000. 35.38% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other Alphabet news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $130.95, for a total value of $30,118.50. Following the completion of the transaction, the director now directly owns 13,329 shares in the company, valued at $1,745,432.55. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $130.95, for a total value of $30,118.50. Following the transaction, the director now owns 13,329 shares of the company’s stock, valued at $1,745,432.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 157,952 shares of the business’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $12.74, for a total transaction of $2,012,308.48. Following the completion of the transaction, the insider now directly owns 10,800,973 shares in the company, valued at approximately $137,604,396.02. The disclosure for this sale can be found here. Insiders sold a total of 841,501 shares of company stock worth $29,365,352 over the last three months. 0.88% of the stock is currently owned by company insiders.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.12. The business had revenue of $74.60 billion during the quarter, compared to analyst estimates of $60.24 billion. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. During the same period in the prior year, the business posted $1.21 earnings per share. Equities analysts forecast that Alphabet Inc. will post 5.64 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several brokerages recently commented on GOOGL. StockNews.com began coverage on shares of Alphabet in a research report on Thursday, May 18th. They set a “buy” rating on the stock. KeyCorp increased their price objective on shares of Alphabet from $140.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, July 26th. JMP Securities increased their price objective on shares of Alphabet from $132.00 to $138.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 26th. Sanford C. Bernstein increased their price objective on shares of Alphabet from $130.00 to $135.00 in a research report on Wednesday, July 26th. Finally, TD Cowen increased their price objective on shares of Alphabet from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, July 13th. Four equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $142.19.
Check Out Our Latest Stock Analysis on GOOGL
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.
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