Aletheian Wealth Advisors LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 188.0% during the second quarter, HoldingsChannel reports. The institutional investor owned 13,491 shares of the information services provider’s stock after acquiring an additional 8,806 shares during the period. Alphabet accounts for about 1.1% of Aletheian Wealth Advisors LLC’s holdings, making the stock its 22nd biggest holding. Aletheian Wealth Advisors LLC’s holdings in Alphabet were worth $1,615,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in GOOGL. Vanguard Group Inc. raised its holdings in Alphabet by 1,919.4% in the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock valued at $45,628,484,000 after buying an additional 453,413,389 shares during the period. State Street Corp raised its holdings in Alphabet by 1,900.6% in the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after buying an additional 206,300,042 shares during the period. Moneta Group Investment Advisors LLC raised its holdings in Alphabet by 111,197.8% in the 4th 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 buying an additional 170,267,122 shares during the period. Geode Capital Management LLC raised its holdings in Alphabet by 1.3% in the 1st quarter. Geode Capital Management LLC now owns 118,576,618 shares of the information services provider’s stock valued at $12,271,705,000 after buying an additional 1,499,107 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Alphabet by 1,759.2% in the 3rd 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 buying an additional 109,870,525 shares during the period. Hedge funds and other institutional investors own 35.08% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on GOOGL. Barclays boosted their price objective on shares of Alphabet from $160.00 to $200.00 in a report on Wednesday, July 26th. TD Cowen boosted their price target on shares of Alphabet from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, July 13th. Morgan Stanley boosted their price target on shares of Alphabet from $150.00 to $155.00 in a research note on Wednesday, July 26th. 888 reiterated a “downgrade” rating on shares of Alphabet in a research note on Monday, June 26th. Finally, Credit Suisse Group boosted their price target on shares of Alphabet from $135.00 to $150.00 and gave the stock an “outperform” rating in a research note on Monday, July 17th. Four analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $143.89.
Insiders Place Their Bets
In other Alphabet news, Director Ann Mather sold 380 shares of the business’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $121.42, for a total transaction of $46,139.60. Following the transaction, the director now owns 4,700 shares of the company’s stock, valued at $570,674. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Ann Mather sold 380 shares of the business’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $121.42, for a total value of $46,139.60. Following the completion of the sale, the director now directly owns 4,700 shares in the company, valued at $570,674. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Prabhakar Raghavan sold 16,083 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $120.31, for a total value of $1,934,945.73. Following the completion of the sale, the senior vice president now owns 127,028 shares of the company’s stock, valued at $15,282,738.68. The disclosure for this sale can be found here. Insiders have sold a total of 96,092 shares of company stock valued at $12,221,941 over the last 90 days. 0.88% of the stock is currently owned by insiders.
Alphabet Price Performance
Shares of NASDAQ GOOGL opened at $130.25 on Friday. The stock has a market capitalization of $1.64 trillion, a price-to-earnings ratio of 27.60, a PEG ratio of 1.50 and a beta of 1.06. The business has a 50-day moving average of $130.97 and a 200-day moving average of $118.95. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.14. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $139.16.
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, beating the consensus estimate of $1.32 by $0.12. The company had revenue of $74.60 billion during 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 company earned $1.21 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 5.68 earnings per share for the current fiscal year.
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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