Signet Financial Management LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,032 shares of the information services provider’s stock after buying an additional 138 shares during the quarter. Signet Financial Management LLC’s holdings in Alphabet were worth $1,680,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake 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 lifted its stake 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 purchasing an additional 206,300,042 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its stake in shares of 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 acquiring an additional 170,267,122 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of 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 acquiring an additional 109,870,525 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Alphabet in the 4th quarter valued at $8,335,063,000. Institutional investors and hedge funds own 35.08% of the company’s stock.
Insider Transactions at Alphabet
In related news, Director Kavitark Ram Shriram sold 31,240 shares of the company’s stock in a transaction that occurred 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 owns 5,364 shares in the company, valued at $626,622.48. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider John Kent Walker sold 42,900 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $136.51, for a total value of $5,856,279.00. Following the transaction, the insider now owns 10,383 shares in the company, valued at $1,417,383.33. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 31,240 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 5,364 shares in the company, valued at approximately $626,622.48. The disclosure for this sale can be found here. Insiders have sold 131,731 shares of company stock worth $16,880,398 in the last 90 days. Insiders own 0.88% of the company’s stock.
Alphabet Price Performance
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $60.24 billion. During the same quarter in the previous year, the business earned $1.21 EPS. Research analysts expect that Alphabet Inc. will post 5.68 EPS for the current fiscal year.
Wall Street Analyst Weigh In
GOOGL has been the subject of a number of research reports. Jefferies Financial Group increased their price target on Alphabet from $150.00 to $165.00 in a research note on Wednesday, July 26th. Susquehanna reiterated a “positive” rating and issued a $150.00 price target on shares of Alphabet in a research note on Thursday, August 31st. StockNews.com began coverage on Alphabet in a research note on Thursday, August 17th. They issued a “buy” rating for the company. JPMorgan Chase & Co. raised their target price on Alphabet from $121.00 to $150.00 in a research report on Wednesday, July 26th. Finally, Wells Fargo & Company raised their target price on Alphabet from $116.00 to $121.00 in a research report on Wednesday, July 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.89.
Check Out Our Latest Stock Analysis on Alphabet
Alphabet Company Profile
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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