CKW Financial Group lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 759.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,070 shares of the information services provider’s stock after buying an additional 11,550 shares during the period. Alphabet comprises 0.2% of CKW Financial Group’s investment portfolio, making the stock its 18th biggest holding. CKW Financial Group’s holdings in Alphabet were worth $1,564,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in GOOGL. Vanguard Group Inc. lifted its stake 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 in the last quarter. State Street Corp grew its stake 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 worth $20,770,809,000 after acquiring an additional 206,300,042 shares during the period. Moneta Group Investment Advisors LLC increased its stake in 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 valued at $15,036,178,000 after purchasing an additional 170,267,122 shares during the last quarter. Geode Capital Management LLC grew its holdings in 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 valued at $12,271,705,000 after purchasing an additional 1,499,107 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of 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 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
A number of brokerages have recently commented on GOOGL. Loop Capital raised their target price on shares of Alphabet from $125.00 to $140.00 and gave the company a “hold” rating in a research note on Friday, August 18th. Evercore ISI lifted their price target on shares of Alphabet from $130.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 26th. Mizuho boosted their target price on shares of Alphabet from $135.00 to $155.00 in a research report on Wednesday, July 26th. Truist Financial lifted their price objective on shares of Alphabet from $122.00 to $160.00 in a report on Wednesday, July 26th. Finally, 888 reaffirmed a “downgrade” rating on shares of Alphabet in a report on Monday, June 26th. Four analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $143.89.
Insider Activity
In other news, insider John Kent Walker sold 42,900 shares of Alphabet stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $136.51, for a total transaction of $5,856,279.00. Following the completion of the sale, the insider now owns 10,383 shares in the company, valued at approximately $1,417,383.33. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Frances Arnold sold 240 shares of Alphabet stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $130.85, for a total value of $31,404.00. Following the sale, the director now owns 13,917 shares in the company, valued at $1,821,039.45. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 42,900 shares of the company’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $136.51, for a total transaction of $5,856,279.00. Following the completion of the sale, the insider now owns 10,383 shares in the company, valued at approximately $1,417,383.33. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 115,648 shares of company stock worth $14,945,452. 0.88% of the stock is owned by company insiders.
Alphabet Price Performance
GOOGL opened at $130.86 on Monday. The firm has a market cap of $1.65 trillion, a P/E ratio of 27.72, a PEG ratio of 1.51 and a beta of 1.06. The firm has a 50-day moving average of $131.84 and a 200 day moving average of $120.64. 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 fifty-two week low of $83.34 and a fifty-two week high of $139.16.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings data on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.12. The business had revenue of $74.60 billion during the quarter, compared to analyst estimates of $60.24 billion. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. During the same period in the previous year, the business earned $1.21 EPS. On average, research analysts expect that Alphabet Inc. will post 5.68 EPS for the current 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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