Carlson Capital Management raised its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 12.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,205 shares of the information services provider’s stock after acquiring an additional 1,339 shares during the quarter. Carlson Capital Management’s holdings in Alphabet were worth $1,461,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOGL. Vanguard Group Inc. grew its position in shares of 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 buying an additional 453,413,389 shares during the period. State Street Corp grew its position 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 period. Moneta Group Investment Advisors LLC grew its stake in shares of Alphabet by 111,197.8% during 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 grew its stake in shares of Alphabet by 1.3% during 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 stake in shares of Alphabet by 1,759.2% during 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 purchasing an additional 109,870,525 shares during the period. Institutional investors and hedge funds own 35.08% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the company. Wells Fargo & Company lifted their price objective on Alphabet from $121.00 to $126.00 and gave the stock an “equal weight” rating in a research note on Tuesday. UBS Group cut shares of Alphabet from a “buy” rating to a “neutral” rating and upped their price objective for the company from $123.00 to $132.00 in a research report on Monday, June 26th. Citigroup lifted their target price on Alphabet from $130.00 to $153.00 in a report on Wednesday, July 26th. Sanford C. Bernstein increased their price target on Alphabet from $130.00 to $135.00 in a report on Wednesday, July 26th. Finally, Barclays lifted their price objective on Alphabet from $160.00 to $200.00 in a report on Wednesday, July 26th. Four investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $144.00.
Insider Activity
In other news, Director Ann Mather sold 220 shares of the business’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $121.75, for a total value of $26,785.00. Following the completion of the sale, the director now owns 4,759 shares of the company’s stock, valued at $579,408.25. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Ann Mather sold 220 shares of Alphabet stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $121.75, for a total value of $26,785.00. Following the completion of the sale, the director now directly owns 4,759 shares in the company, valued at $579,408.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 16,083 shares of Alphabet stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $133.82, for a total transaction of $2,152,227.06. Following the completion of the sale, the senior vice president now owns 75,621 shares of the company’s stock, valued at $10,119,602.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 101,091 shares of company stock valued at $13,530,462. 0.88% of the stock is owned by company insiders.
Alphabet Trading Down 1.1 %
GOOGL stock opened at $138.97 on Friday. Alphabet Inc. has a one year low of $83.34 and a one year high of $141.22. The stock has a market cap of $1.75 trillion, a price-to-earnings ratio of 29.44, a price-to-earnings-growth ratio of 1.59 and a beta of 1.06. The company has a fifty day moving average price of $133.33 and a two-hundred day moving average price of $122.49. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.14.
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its quarterly earnings data 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. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. The company had revenue of $74.60 billion during the quarter, compared to analysts’ expectations of $60.24 billion. During the same quarter in the previous year, the company posted $1.21 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 5.68 EPS for the current year.
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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