Royal Harbor Partners LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 3.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,572 shares of the information services provider’s stock after selling 628 shares during the period. Alphabet accounts for 1.2% of Royal Harbor Partners LLC’s portfolio, making the stock its 23rd largest holding. Royal Harbor Partners LLC’s holdings in Alphabet were worth $2,462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Alphabet by 1,919.4% during 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 last quarter. State Street Corp raised its holdings in 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 purchasing an additional 206,300,042 shares during the last quarter. Moneta Group Investment Advisors LLC raised its holdings in 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 purchasing an additional 170,267,122 shares during the last quarter. Geode Capital Management LLC raised 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 purchasing an additional 1,499,107 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position 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 acquiring an additional 109,870,525 shares during the last quarter. Institutional investors own 35.08% of the company’s stock.
Wall Street Analysts Forecast Growth
GOOGL has been the subject of several recent research reports. TD Cowen upped their target price on shares of Alphabet from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, July 13th. JMP Securities reiterated a “market outperform” rating and set a $138.00 target price on shares of Alphabet in a research report on Wednesday, August 30th. Barclays upped their price target on Alphabet from $160.00 to $200.00 in a research note on Wednesday, July 26th. Credit Suisse Group upped their price target on Alphabet from $135.00 to $150.00 and gave the company an “outperform” rating in a research note on Monday, July 17th. Finally, Loop Capital upped their price target on Alphabet from $125.00 to $140.00 and gave the company a “hold” rating in a research note on Friday, August 18th. Four equities research 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 company. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.00.
Alphabet Stock Down 1.1 %
GOOGL stock opened at $138.97 on Friday. The company has a quick ratio of 2.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.05. The business has a 50 day moving average price of $133.33 and a two-hundred day moving average price of $122.49. The company has a market cap of $1.75 trillion, a price-to-earnings ratio of 29.44, a P/E/G ratio of 1.59 and a beta of 1.06. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $141.22.
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted 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. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. The firm had revenue of $74.60 billion during the quarter, compared to the consensus estimate of $60.24 billion. During the same period last year, the company earned $1.21 earnings per share. Analysts anticipate that Alphabet Inc. will post 5.68 EPS for the current fiscal year.
Insider Activity
In other news, CAO Amie Thuener O’toole sold 3,749 shares of Alphabet stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $136.28, for a total value of $510,913.72. Following the completion of the transaction, the chief accounting officer now owns 25,568 shares of the company’s stock, valued at approximately $3,484,407.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CAO Amie Thuener O’toole sold 3,749 shares of Alphabet stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $136.28, for a total transaction of $510,913.72. Following the completion of the transaction, the chief accounting officer now directly owns 25,568 shares in the company, valued at approximately $3,484,407.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $139.93, for a total value of $27,986.00. Following the transaction, the director now owns 7,384 shares of the company’s stock, valued at $1,033,243.12. The disclosure for this sale can be found here. Insiders sold a total of 101,091 shares of company stock valued at $13,530,462 in the last quarter. Company insiders own 0.88% of the company’s stock.
Alphabet 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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