ICICI Prudential Asset Management Co Ltd boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 27.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,964 shares of the information services provider’s stock after purchasing an additional 6,395 shares during the quarter. ICICI Prudential Asset Management Co Ltd’s holdings in Alphabet were worth $3,108,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Live Oak Investment Partners purchased a new position in shares of Alphabet in the 4th quarter valued at about $26,000. Sanctuary Wealth Management L.L.C. purchased a new position in shares of Alphabet in the 4th quarter valued at about $34,000. Turim 21 Investimentos Ltda. purchased a new position in shares of Alphabet in the 3rd quarter valued at about $38,000. IAG Wealth Partners LLC grew its stake in Alphabet by 100.0% during the 1st quarter. IAG Wealth Partners LLC now owns 400 shares of the information services provider’s stock worth $41,000 after buying an additional 200 shares during the last quarter. Finally, AM Squared Ltd purchased a new position in Alphabet during the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 35.38% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the company. 888 restated a “downgrade” rating on shares of Alphabet in a research note on Monday, June 26th. StockNews.com assumed coverage on Alphabet in a research note on Thursday, May 18th. They set a “buy” rating on the stock. Stifel Nicolaus raised their price target on Alphabet from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. Jefferies Financial Group raised their price target on Alphabet from $150.00 to $165.00 in a research note on Wednesday, July 26th. Finally, Tigress Financial raised their price target on Alphabet from $160.00 to $172.00 and gave the stock a “strong-buy” rating in a research note on Friday, July 14th. Four analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.19.
Alphabet Stock Performance
NASDAQ GOOGL opened at $129.69 on Friday. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $133.74. The company has a market capitalization of $1.64 trillion, a P/E ratio of 27.48, a PEG ratio of 1.52 and a beta of 1.06. The business has a 50 day moving average price of $123.73 and a 200 day moving average price of $110.84. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.14.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.12. The company had revenue of $74.60 billion during the quarter, compared to the consensus estimate of $60.24 billion. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. During the same quarter last year, the business posted $1.21 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 5.64 EPS for the current fiscal year.
Insiders Place Their Bets
In other Alphabet news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $131.14, for a total transaction of $26,228.00. Following the completion of the transaction, the director now owns 5,340 shares of the company’s stock, valued at $700,287.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $131.14, for a total transaction of $26,228.00. Following the completion of the transaction, the director now owns 5,340 shares of the company’s stock, valued at $700,287.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 75,000 shares of the firm’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $120.01, for a total value of $9,000,750.00. Following the transaction, the director now directly owns 32,240 shares of the company’s stock, valued at approximately $3,869,122.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 588,742 shares of company stock valued at $22,455,363. Corporate insiders own 0.88% of the company’s stock.
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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