Blackhawk Capital Partners LLC. increased its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 12.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,571 shares of the information services provider’s stock after purchasing an additional 3,798 shares during the period. Alphabet makes up 2.9% of Blackhawk Capital Partners LLC.’s holdings, making the stock its 5th largest position. Blackhawk Capital Partners LLC.’s holdings in Alphabet were worth $4,138,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. Vanguard Group Inc. boosted 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 worth $45,628,484,000 after purchasing an additional 453,413,389 shares during the period. State Street Corp boosted 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 worth $20,770,809,000 after buying an additional 206,300,042 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its stake in shares of Alphabet by 111,197.8% during the 4th 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 buying an additional 170,267,122 shares during the last quarter. Price T Rowe Associates Inc. MD boosted 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 worth $11,106,502,000 after buying an additional 109,870,525 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Alphabet during the 4th quarter worth about $8,335,063,000. 35.08% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts have recently commented on the stock. Truist Financial increased their price objective on shares of Alphabet from $122.00 to $160.00 in a research note on Wednesday, July 26th. Barclays upped their target price on shares of Alphabet from $160.00 to $200.00 in a report on Wednesday, July 26th. Wedbush assumed coverage on shares of Alphabet in a report on Monday, August 21st. They issued an “outperform” rating and a $160.00 target price on the stock. 888 reissued a “downgrade” rating on shares of Alphabet in a report on Monday, June 26th. Finally, UBS Group cut shares of Alphabet from a “buy” rating to a “neutral” rating and increased their price target for the company from $123.00 to $132.00 in a report 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 stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $143.86.
Insider Activity at Alphabet
In other Alphabet news, 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 directly 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 accessible through the SEC website. In other Alphabet news, Director Kavitark Ram Shriram sold 31,240 shares of the stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $116.82, for a total transaction 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 can be accessed through this hyperlink. Also, Director Ann Mather sold 220 shares of the stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $121.75, for a total transaction of $26,785.00. Following the transaction, the director now owns 4,759 shares in the company, valued at $579,408.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 116,248 shares of company stock worth $15,024,706. 0.88% of the stock is owned by company insiders.
Alphabet Stock Performance
Alphabet stock opened at $132.43 on Wednesday. The firm’s 50 day simple moving average is $132.30 and its 200 day simple moving average is $121.09. 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 market capitalization of $1.67 trillion, a PE ratio of 28.06, a price-to-earnings-growth ratio of 1.51 and a beta of 1.06. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $139.16.
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its quarterly earnings data on Tuesday, July 25th. The information services provider reported $1.44 EPS for the quarter, topping the consensus estimate of $1.32 by $0.12. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The business had revenue of $74.60 billion during the quarter, compared to analyst estimates of $60.24 billion. During the same period in the prior year, the business earned $1.21 EPS. As a group, analysts expect that Alphabet Inc. will post 5.68 earnings per share for the current fiscal year.
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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