Finer Wealth Management Inc. boosted its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 3.1% in the first quarter, HoldingsChannel.com reports. The firm owned 33,348 shares of the information services provider’s stock after buying an additional 993 shares during the period. Alphabet accounts for about 2.9% of Finer Wealth Management Inc.’s investment portfolio, making the stock its 7th largest holding. Finer Wealth Management Inc.’s holdings in Alphabet were worth $3,459,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in 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 acquiring an additional 453,413,389 shares during the last quarter. State Street Corp boosted its position in Alphabet by 1,900.6% during the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after acquiring an additional 206,300,042 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its position in 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 acquiring an additional 170,267,122 shares during the last quarter. Geode Capital Management LLC boosted its position in 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 acquiring an additional 1,923,667 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Alphabet by 1,759.2% during the third 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 acquiring an additional 109,870,525 shares during the last quarter. 35.38% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total transaction of $25,130.00. Following the sale, the director now directly owns 5,740 shares in the company, valued at approximately $721,231. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Frances Arnold sold 950 shares of the business’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $125.25, for a total value of $118,987.50. Following the completion of the sale, the director now owns 13,040 shares in the company, valued at approximately $1,633,260. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total transaction of $25,130.00. Following the completion of the sale, the director now owns 5,740 shares of the company’s stock, valued at approximately $721,231. The disclosure for this sale can be found here. Insiders have sold 180,956 shares of company stock worth $8,923,120 in the last three months. Company insiders own 0.88% of the company’s stock.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $60.24 billion. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. During the same quarter in the prior year, the company earned $1.21 earnings per share. As a group, equities research analysts predict that Alphabet Inc. will post 5.67 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of brokerages have commented on GOOGL. StockNews.com initiated coverage on shares of Alphabet in a research report on Thursday, August 17th. They set a “buy” rating on the stock. Loop Capital increased their price objective on shares of Alphabet from $125.00 to $140.00 and gave the stock a “hold” rating in a research report on Friday, August 18th. Truist Financial increased their price objective on shares of Alphabet from $122.00 to $160.00 in a research report on Wednesday, July 26th. TD Cowen increased their price objective on shares of Alphabet from $130.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, July 13th. Finally, JMP Securities increased their price objective on shares of Alphabet from $132.00 to $138.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 26th. Four investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $143.08.
Read 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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