Grey Street Capital LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 77.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,957 shares of the information services provider’s stock after purchasing an additional 15,219 shares during the quarter. Alphabet accounts for approximately 2.2% of Grey Street Capital LLC’s investment portfolio, making the stock its 10th largest position. Grey Street Capital LLC’s holdings in Alphabet were worth $4,184,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Alphabet by 1,919.4% in 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 acquiring an additional 453,413,389 shares during the last quarter. State Street Corp lifted its holdings in shares of Alphabet by 1,900.6% in 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 acquiring 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 acquiring an additional 170,267,122 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Alphabet by 1.3% in the first quarter. Geode Capital Management LLC now owns 118,576,618 shares of the information services provider’s stock worth $12,271,705,000 after acquiring an additional 1,499,107 shares during the last quarter. Finally, 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 acquiring an additional 109,870,525 shares during the last quarter. Institutional investors own 35.08% of the company’s stock.
Alphabet Stock Performance
Shares of GOOGL stock opened at $130.25 on Monday. The company has a market cap of $1.64 trillion, a price-to-earnings ratio of 27.60, a price-to-earnings-growth ratio of 1.50 and a beta of 1.06. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $139.16. 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 has a 50 day moving average of $130.97 and a 200-day moving average of $119.13.
Insider Buying and Selling
In related news, Director Kavitark Ram Shriram sold 31,240 shares of the stock in a transaction on Monday, July 10th. The stock was sold at an average price of $116.82, for a total value of $3,649,456.80. Following the transaction, the director now directly owns 5,364 shares in the company, valued at approximately $626,622.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the transaction, the senior vice president now directly owns 127,028 shares in the company, valued at approximately $15,282,738.68. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 31,240 shares of the firm’s stock in a transaction on Monday, July 10th. The shares were sold at an average price of $116.82, for a total value of $3,649,456.80. Following the transaction, the director now owns 5,364 shares in the company, valued at $626,622.48. The disclosure for this sale can be found here. Insiders have sold a total of 95,712 shares of company stock worth $12,175,801 in the last ninety days. Corporate insiders own 0.88% of the company’s stock.
Analysts Set New Price Targets
GOOGL has been the subject of a number of research reports. Needham & Company LLC reissued a “buy” rating and issued a $140.00 target price on shares of Alphabet in a report on Wednesday, September 13th. Susquehanna reissued a “positive” rating and issued a $150.00 target price on shares of Alphabet in a report on Thursday, August 31st. Evercore ISI increased their target price on shares of Alphabet from $130.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, July 26th. Rosenblatt Securities upped their price objective on Alphabet from $132.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, July 26th. Finally, 888 reaffirmed a “downgrade” rating on shares of Alphabet in a research note on Monday, June 26th. Four investment 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 stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $143.89.
Read Our Latest Analysis on GOOGL
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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