Sarasin & Partners LLP raised its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 344.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,157,767 shares of the information services provider’s stock after acquiring an additional 2,446,956 shares during the period. Alphabet makes up 3.8% of Sarasin & Partners LLP’s portfolio, making the stock its 4th largest holding. Sarasin & Partners LLP’s holdings in Alphabet were worth $327,555,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of the stock. Live Oak Investment Partners purchased a new position in shares of Alphabet in the fourth quarter valued at $26,000. Sanctuary Wealth Management L.L.C. purchased a new position in shares of Alphabet in the 4th quarter worth $34,000. Turim 21 Investimentos Ltda. bought a new stake in shares of Alphabet in the 3rd quarter worth about $38,000. IAG Wealth Partners LLC raised its position in shares of Alphabet by 100.0% during the 1st quarter. IAG Wealth Partners LLC now owns 400 shares of the information services provider’s stock valued at $41,000 after buying an additional 200 shares in the last quarter. Finally, AM Squared Ltd bought a new position in shares of Alphabet in the 4th quarter valued at about $44,000. Hedge funds and other institutional investors own 35.38% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have issued reports on GOOGL shares. TD Cowen upped their price objective on Alphabet from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, July 13th. Loop Capital lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $125.00 price objective for the company. in a research note on Monday, May 15th. Morgan Stanley increased their target price on shares of Alphabet from $150.00 to $155.00 in a research note on Wednesday, July 26th. Jefferies Financial Group lifted their price target on shares of Alphabet from $150.00 to $165.00 in a research note on Wednesday, July 26th. Finally, Stifel Nicolaus increased their target price on Alphabet from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. Four investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $142.19.
Alphabet Stock Performance
Shares of GOOGL opened at $129.56 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.14 and a current ratio of 2.17. The stock has a 50-day moving average of $123.95 and a two-hundred day moving average of $111.38. The stock has a market cap of $1.63 trillion, a P/E ratio of 27.45, a P/E/G ratio of 1.50 and a beta of 1.06. Alphabet Inc. has a one year low of $83.34 and a one year high of $133.74.
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued 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. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The company had revenue of $74.60 billion for the quarter, compared to the consensus estimate of $60.24 billion. During the same quarter in the prior year, the company earned $1.21 EPS. As a group, research analysts predict that Alphabet Inc. will post 5.67 EPS for the current year.
Insider Buying and Selling
In other news, major shareholder 2019 Gp L.L.C. Gv sold 15,000 shares of the company’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $12.77, for a total value of $191,550.00. Following the sale, the insider now owns 10,735,324 shares in the company, valued at $137,090,087.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, Director Ann Mather sold 9,540 shares of Alphabet stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $125.33, for a total value of $1,195,648.20. Following the completion of the transaction, the director now owns 2,800 shares of the company’s stock, valued at $350,924. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 15,000 shares of the stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $12.77, for a total transaction of $191,550.00. Following the sale, the insider now directly owns 10,735,324 shares in the company, valued at $137,090,087.48. The disclosure for this sale can be found here. Insiders sold a total of 430,790 shares of company stock valued at $20,443,054 over the last 90 days. 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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