Ameritas Investment Partners Inc. Buys 422 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Posted by Defense World Staff on Aug 29th, 2023

Ameritas Investment Partners Inc. grew its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 178,151 shares of the information services provider’s stock after acquiring an additional 422 shares during the quarter. Alphabet accounts for 0.7% of Ameritas Investment Partners Inc.’s holdings, making the stock its 15th biggest position. Ameritas Investment Partners Inc.’s holdings in Alphabet were worth $18,480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Alphabet by 1,919.4% during the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after purchasing an additional 453,413,389 shares in the last quarter. State Street Corp increased its stake in Alphabet by 1,900.6% during the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after purchasing an additional 206,300,042 shares in the last quarter. Moneta Group Investment Advisors LLC increased its stake in Alphabet by 111,197.8% during the 4th 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 purchasing an additional 170,267,122 shares in the last quarter. Geode Capital Management LLC increased its stake in Alphabet by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 117,077,511 shares of the information services provider’s stock worth $10,310,795,000 after purchasing an additional 1,923,667 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Alphabet by 1,759.2% during the 3rd 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 purchasing an additional 109,870,525 shares in the last quarter. 35.38% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder 2019 Gp L.L.C. Gv sold 16,633 shares of the firm’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $13.65, for a total value of $227,040.45. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related 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 value of $26,228.00. Following the transaction, the director now owns 5,340 shares in the company, valued at $700,287.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 16,633 shares of the firm’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $13.65, for a total value of $227,040.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 180,006 shares of company stock worth $8,804,132. Company insiders own 0.88% of the company’s stock.

Alphabet Stock Up 0.9 %

GOOGL stock opened at $131.01 on Tuesday. 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 $1.65 trillion, a price-to-earnings ratio of 27.76, a PEG ratio of 1.50 and a beta of 1.06. The business’s fifty day moving average price is $125.24 and its two-hundred day moving average price is $113.62. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $134.25.

Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $74.60 billion for the quarter, compared to analysts’ expectations 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 earned $1.21 EPS. On average, equities analysts anticipate that Alphabet Inc. will post 5.68 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on GOOGL. Mizuho increased their target price on Alphabet from $135.00 to $155.00 in a research note on Wednesday, July 26th. UBS Group cut Alphabet from a “buy” rating to a “neutral” rating and increased their target price for the stock from $123.00 to $132.00 in a research note on Monday, June 26th. Jefferies Financial Group upped their price target on Alphabet from $150.00 to $165.00 in a research report on Wednesday, July 26th. The Goldman Sachs Group upped their price target on Alphabet from $132.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, July 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price target on shares of Alphabet in a research report on Friday, August 11th. Four equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $143.08.

Get Our Latest Analysis on Alphabet

Alphabet Profile

(Free Report)

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.