Droms Strauss Advisors Inc. MO ADV lifted its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 5.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,506 shares of the information services provider’s stock after acquiring an additional 180 shares during the period. Droms Strauss Advisors Inc. MO ADV’s holdings in Alphabet were worth $427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of 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 raised its stake in shares of Alphabet by 1,900.6% during 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 last quarter. Moneta Group Investment Advisors LLC lifted its holdings 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 buying an additional 170,267,122 shares during the period. Price T Rowe Associates Inc. MD boosted its stake 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 buying an additional 109,870,525 shares during the last quarter. Finally, Norges Bank acquired a new stake in Alphabet during the fourth quarter worth about $8,335,063,000. Institutional investors and hedge funds own 35.08% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on GOOGL shares. The Goldman Sachs Group raised their price objective on shares of Alphabet from $132.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, July 17th. Bank of America lifted their price objective on shares of Alphabet from $142.00 to $146.00 and gave the company a “buy” rating in a report on Wednesday, August 30th. Susquehanna reiterated a “positive” rating and issued a $150.00 price objective on shares of Alphabet in a research report on Thursday, August 31st. Tigress Financial increased their price target on shares of Alphabet from $160.00 to $172.00 and gave the company a “strong-buy” rating in a research note on Friday, July 14th. Finally, UBS Group cut Alphabet from a “buy” rating to a “neutral” rating and raised their target price for the stock from $123.00 to $132.00 in a research note on Monday, June 26th. Four investment 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. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.89.
Alphabet Stock Down 1.1 %
Shares of NASDAQ:GOOGL opened at $130.86 on Monday. The company has a current ratio of 2.17, a quick ratio of 2.14 and a debt-to-equity ratio of 0.05. The firm has a 50 day simple moving average of $131.84 and a 200-day simple moving average of $120.64. The company has a market capitalization of $1.65 trillion, a PE ratio of 27.72, a P/E/G ratio of 1.51 and a beta of 1.06. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $139.16.
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $74.60 billion during the quarter, compared to analysts’ expectations 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 company earned $1.21 earnings per share. On average, equities analysts predict that Alphabet Inc. will post 5.68 EPS for the current fiscal year.
Insider Activity at Alphabet
In other Alphabet news, Director Kavitark Ram Shriram sold 31,240 shares of Alphabet stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $116.82, for a total transaction of $3,649,456.80. Following the transaction, the director now owns 5,364 shares of the company’s stock, valued at $626,622.48. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Alphabet news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $131.14, for a total transaction of $26,228.00. Following the completion of the sale, the director now directly owns 5,340 shares of the company’s stock, valued at approximately $700,287.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the director now owns 5,364 shares of the company’s stock, valued at approximately $626,622.48. The disclosure for this sale can be found here. Insiders sold a total of 115,648 shares of company stock valued at $14,945,452 in the last three months. 0.88% of the stock is currently owned by company insiders.
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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