PFG Advisors lifted its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 7.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,896 shares of the information services provider’s stock after buying an additional 2,051 shares during the quarter. PFG Advisors’ holdings in Alphabet were worth $3,579,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew 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 purchasing an additional 453,413,389 shares during the last quarter. State Street Corp grew 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 purchasing an additional 206,300,042 shares during the last quarter. Moneta Group Investment Advisors LLC grew 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 purchasing an additional 170,267,122 shares during the last quarter. Geode Capital Management LLC grew its holdings in Alphabet by 1.3% during the 1st 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 in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in 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 acquiring an additional 109,870,525 shares in the last quarter. Hedge funds and other institutional investors own 35.08% of the company’s stock.
Insider Activity at Alphabet
In related news, SVP Prabhakar Raghavan sold 16,083 shares of Alphabet stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $133.82, for a total value of $2,152,227.06. Following the sale, the senior vice president now owns 75,621 shares of the company’s stock, valued at approximately $10,119,602.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Prabhakar Raghavan sold 16,083 shares of Alphabet stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $133.82, for a total value of $2,152,227.06. Following the sale, the senior vice president now owns 75,621 shares of the company’s stock, valued at approximately $10,119,602.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 420 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $132.09, for a total transaction of $55,477.80. Following the sale, the chief accounting officer now directly owns 25,988 shares of the company’s stock, valued at approximately $3,432,754.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 132,331 shares of company stock valued at $17,176,933. 0.88% of the stock is owned by company insiders.
Analysts Set New Price Targets
Check Out Our Latest Stock Report on Alphabet
Alphabet Stock Performance
GOOGL opened at $137.58 on Friday. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $139.16. 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 $1.73 trillion, a PE ratio of 29.15, a P/E/G ratio of 1.56 and a beta of 1.06. The firm has a 50 day moving average of $132.63 and a two-hundred day moving average of $121.54.
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 analysts’ consensus estimates of $1.32 by $0.12. The business had revenue of $74.60 billion for 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 quarter last year, the company earned $1.21 EPS. On average, analysts anticipate that Alphabet Inc. will post 5.68 EPS for the current 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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