Values Added Financial LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,822 shares of the information services provider’s stock, valued at approximately $1,176,000. Alphabet accounts for about 1.1% of Values Added Financial LLC’s holdings, making the stock its 23rd biggest position.
Several other hedge funds have also recently added to or reduced their stakes in GOOGL. Vanguard Group Inc. raised its holdings in 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 period. State Street Corp raised its holdings in 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 period. Moneta Group Investment Advisors LLC raised its holdings 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 worth $15,036,178,000 after purchasing an additional 170,267,122 shares during the period. Geode Capital Management LLC raised 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 worth $12,271,705,000 after purchasing an additional 1,499,107 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Alphabet by 1,759.2% in 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 purchasing an additional 109,870,525 shares during the period. Institutional investors and hedge funds own 35.08% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have commented on GOOGL. Mizuho raised their target price on shares of Alphabet from $135.00 to $155.00 in a report on Wednesday, July 26th. Royal Bank of Canada upped their target price on shares of Alphabet from $145.00 to $155.00 in a research note on Wednesday, July 26th. KeyCorp increased their target price on Alphabet from $140.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, July 26th. Morgan Stanley lifted their price target on Alphabet from $150.00 to $155.00 in a research note on Wednesday, July 26th. Finally, Susquehanna reissued a “positive” rating and issued a $150.00 price target on shares of Alphabet in a research note on Thursday, August 31st. Four analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.00.
Alphabet Trading Down 1.1 %
GOOGL stock opened at $138.97 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.14 and a current ratio of 2.17. The company’s 50-day simple moving average is $133.33 and its 200 day simple moving average is $122.49. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $141.22. The company has a market capitalization of $1.75 trillion, a PE ratio of 29.44, a price-to-earnings-growth ratio of 1.59 and a beta of 1.06.
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (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 the consensus estimate of $60.24 billion. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. During the same quarter in the prior year, the business posted $1.21 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 5.68 earnings per share for the current year.
Insiders Place Their Bets
In other Alphabet news, Director John L. Hennessy sold 200 shares of the stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $131.14, for a total transaction of $26,228.00. Following the sale, the director now directly owns 5,340 shares in the company, valued at $700,287.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, CAO Amie Thuener O’toole sold 420 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $132.09, for a total value of $55,477.80. Following the sale, the chief accounting officer now owns 25,988 shares of the company’s stock, valued at approximately $3,432,754.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $131.14, for a total value of $26,228.00. Following the completion of the sale, the director now directly owns 5,340 shares in the company, valued at approximately $700,287.60. The disclosure for this sale can be found here. Insiders have sold 101,091 shares of company stock worth $13,530,462 over the last ninety days. Corporate 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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