Great Lakes Retirement Inc. raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 32.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 104,779 shares of the information services provider’s stock after purchasing an additional 25,611 shares during the quarter. Alphabet makes up approximately 2.0% of Great Lakes Retirement Inc.’s portfolio, making the stock its 10th largest holding. Great Lakes Retirement Inc.’s holdings in Alphabet were worth $10,869,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in GOOGL. Vanguard Group Inc. lifted its holdings 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 purchasing an additional 453,413,389 shares during the last quarter. State Street Corp lifted its holdings 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 purchasing an additional 206,300,042 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in shares of Alphabet by 111,197.8% in the fourth 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 buying an additional 170,267,122 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Alphabet by 1,759.2% in the third 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 buying an additional 109,870,525 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Alphabet in the fourth quarter worth about $8,335,063,000. 35.38% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Alphabet
In other Alphabet news, Director Frances Arnold sold 240 shares of the business’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $123.73, for a total transaction of $29,695.20. Following the transaction, the director now directly owns 12,800 shares of the company’s stock, valued at approximately $1,583,744. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Frances Arnold sold 240 shares of the business’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $123.73, for a total transaction of $29,695.20. Following the sale, the director now owns 12,800 shares in the company, valued at approximately $1,583,744. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $131.14, for a total transaction of $26,228.00. Following the sale, the director now owns 5,340 shares in the company, valued at approximately $700,287.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 180,956 shares of company stock valued at $8,923,120. 0.88% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Read Our Latest Analysis on Alphabet
Alphabet Stock Performance
NASDAQ:GOOGL opened at $129.08 on Wednesday. The company has a quick ratio of 2.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.05. The firm’s fifty day simple moving average is $124.69 and its 200 day simple moving average is $112.79. The stock has a market cap of $1.63 trillion, a P/E ratio of 27.35, a price-to-earnings-growth ratio of 1.47 and a beta of 1.06. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $133.74.
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its quarterly earnings data on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.12. The business had revenue of $74.60 billion for the quarter, compared to the consensus estimate 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 previous year, the firm earned $1.21 EPS. As a group, research analysts predict that Alphabet Inc. will post 5.67 EPS for the current year.
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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