JT Stratford LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 16.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 56,802 shares of the information services provider’s stock after selling 10,872 shares during the quarter. Alphabet comprises about 1.7% of JT Stratford LLC’s holdings, making the stock its 13th largest position. JT Stratford LLC’s holdings in Alphabet were worth $5,892,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in GOOGL. Vanguard Group Inc. grew 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 worth $45,628,484,000 after buying an additional 453,413,389 shares in the last quarter. State Street Corp grew 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 worth $20,770,809,000 after buying an additional 206,300,042 shares in the last quarter. Moneta Group Investment Advisors LLC grew 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 worth $15,036,178,000 after buying an additional 170,267,122 shares in the last quarter. Geode Capital Management LLC grew 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 worth $10,310,795,000 after buying an additional 1,923,667 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew 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 worth $11,106,502,000 after buying an additional 109,870,525 shares in the last quarter. 35.38% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on GOOGL. Jefferies Financial Group lifted their price target on Alphabet from $150.00 to $165.00 in a research note on Wednesday, July 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price target on shares of Alphabet in a research note on Friday, August 11th. 51job reaffirmed a “downgrade” rating on shares of Alphabet in a research note on Tuesday, June 27th. Sanford C. Bernstein lifted their price target on Alphabet from $130.00 to $135.00 in a research note on Wednesday, July 26th. Finally, Barclays lifted their price target on Alphabet from $160.00 to $200.00 in a research note on Wednesday, July 26th. Four investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $143.08.
Alphabet Stock Up 0.1 %
GOOGL stock opened at $129.88 on Friday. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $134.25. The business has a fifty day moving average price of $125.09 and a 200-day moving average price of $113.23. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.14. The stock has a market capitalization of $1.64 trillion, a P/E ratio of 27.52, a P/E/G ratio of 1.52 and a beta of 1.06.
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 the consensus estimate of $1.32 by $0.12. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. The firm had revenue of $74.60 billion during the quarter, compared to analysts’ expectations of $60.24 billion. During the same quarter in the previous year, the business earned $1.21 earnings per share. Equities analysts forecast that Alphabet Inc. will post 5.68 earnings per share for the current fiscal year.
Insider Transactions at Alphabet
In other news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $131.14, for a total value of $26,228.00. Following the completion of the transaction, the director now owns 5,340 shares in the company, valued at $700,287.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director John L. Hennessy sold 200 shares of the company’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 sale, the director now owns 5,340 shares in the company, valued at $700,287.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ann Mather sold 220 shares of the company’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $121.75, for a total value of $26,785.00. Following the sale, the director now owns 4,759 shares of the company’s stock, valued at approximately $579,408.25. The disclosure for this sale can be found here. Insiders sold 180,006 shares of company stock worth $8,804,132 over the last quarter. 0.88% of the stock is currently owned by insiders.
About Alphabet
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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