Envestnet Asset Management Inc. increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,231,359 shares of the information services provider’s stock after purchasing an additional 79,100 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Alphabet were worth $542,649,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised 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 worth $45,628,484,000 after purchasing an additional 453,413,389 shares during the last quarter. State Street Corp increased 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 increased 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 increased 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 increased 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. 35.08% of the stock is owned by institutional investors and hedge funds.
Alphabet Trading Up 0.2 %
NASDAQ:GOOGL opened at $136.17 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.14 and a current ratio of 2.17. Alphabet Inc. has a one year low of $83.34 and a one year high of $138.00. The business’s 50-day simple moving average is $126.03 and its 200 day simple moving average is $114.21. The stock has a market cap of $1.72 trillion, a price-to-earnings ratio of 28.85, a price-to-earnings-growth ratio of 1.51 and a beta of 1.06.
Analyst Upgrades and Downgrades
GOOGL has been the subject of several recent research reports. Wells Fargo & Company raised their price target on Alphabet from $116.00 to $121.00 in a research report on Wednesday, July 26th. Stifel Nicolaus raised their price target on Alphabet from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. Wedbush initiated coverage on Alphabet in a research report on Monday, August 21st. They set an “outperform” rating and a $160.00 price target for the company. 51job reissued a “downgrade” rating on shares of Alphabet in a research report on Tuesday, June 27th. Finally, 888 reaffirmed a “downgrade” rating on shares of Alphabet in a research report on Monday, June 26th. Four equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $143.89.
Get Our Latest Stock Report on GOOGL
Insider Buying and Selling
In related news, Director Ann Mather sold 220 shares of the business’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $130.14, for a total value of $28,630.80. Following the completion of the sale, the director now directly owns 4,818 shares of the company’s stock, valued at $627,014.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Ann Mather sold 220 shares of the business’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $130.14, for a total value of $28,630.80. Following the completion of the sale, the director now directly owns 4,818 shares of the company’s stock, valued at $627,014.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 15,672 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $14.48, for a total value of $226,930.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 153,813 shares of company stock worth $7,380,379. 0.88% of the stock is currently owned by corporate 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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