Private Wealth Group LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 92.8% during the first quarter, HoldingsChannel reports. The firm owned 187 shares of the information services provider’s stock after acquiring an additional 90 shares during the quarter. Private Wealth Group LLC’s holdings in Alphabet were worth $522,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOG. BlackRock Inc. its raised stake in Alphabet by 1.1% in the fourth quarter. BlackRock Inc. Now owns 19,196,177 shares of the information services provider’s stock valued at $55,545,866,000 after buying an additional 205,225 shares during the period. State Street Corp increased its holdings in shares of Alphabet by 0.6% during the 4th quarter. State Street Corp now owns 10,608,366 shares of the information services provider’s stock worth $30,696,262,000 after acquiring an additional 58,955 shares during the last quarter. Geode Capital Management LLC raised its stake in Alphabet by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 4,669,682 shares of the information services provider’s stock valued at $13,474,847,000 after acquiring an additional 97,666 shares during the period. JPMorgan Chase & Co. lifted its holdings in Alphabet by 2.4% during the 4th quarter. JPMorgan Chase & Co. Now owns 3,752,343 shares of the information services provider’s stock valued at $10,857,740,000 after purchasing an additional 87,144 shares during the last quarter. Finally, Alliancebernstein LP boosted its position in Alphabet by 1.6% during the fourth quarter. Alliancebernstein LP now owns 3,082,944 shares of the information services provider’s stock worth $8,920,776,000 after purchasing an additional 48,928 shares during the period. 31.20% of the stock is owned by institutional investors.
In related news, Director Ann Mather sold 21 shares of Alphabet stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $2,102.84, for a total transaction of $44,159.64. Following the sale, the director now directly owns 565 shares in the company, valued at approximately $1,188,104.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 1,276 shares of the company’s stock in a transaction that occurred on Monday, April 4th. The shares were sold at an average price of $2,816.49, for a total transaction of $3,593,841.24. Following the completion of the transaction, the senior vice president now owns 14,034 shares of the company’s stock, valued at $39,526,620.66. The disclosure for this sale can be found here. Insiders have sold a total of 551,675 shares of company stock worth $25,567,428 in the last 90 days. 12.99% of the stock is currently owned by corporate insiders.
GOOG opened at $2,370.76 on Friday. The company has a market cap of $1.56 trillion, a P/E ratio of 21.44, a PEG ratio of 1.09 and a beta of 1.13. The company has a current ratio of 2.87, a quick ratio of 2.85 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average is $2,298.68 and its 200-day moving average is $2,595.91. Alphabet Inc. has a 1-year low of $2,044.16 and a 1-year high of $3,042.00.
Alphabet’s stock is scheduled to split before the market opens on Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly issued shares will be payable to shareholders after the market closes on Friday, July 15th.
Alphabet (NASDAQ:GOOG – Get Rating) last posted its earnings results on Tuesday, April 26th. The information services provider reported $24.62 earnings per share for the quarter, missing analysts’ consensus estimates of $25.70 by ($1.08). The company had revenue of $56.02 billion for the quarter, compared to the consensus estimate of $56.17 billion. Alphabet had a return on equity of 30.18% and a net margin of 27.57%. During the same period in the previous year, the firm posted $26.29 EPS. On average, equities analysts forecast that Alphabet Inc. will post 110.83 EPS for the current year.
Several analysts recently commented on the stock. Wedbush” reaffirmed an “outperform rating on shares of Alphabet in a report on Wednesday, April 20th. Oppenheimer” reaffirmed an “outperform rating and issued a $3,290.00 target price on shares of Alphabet in a research report on Thursday, April 28th. Deutsche Bank Aktiengesellschaft dropped their price target on Alphabet from $3,150.00 to $2,900.00 in a report on Wednesday, April 27th. JPMorgan Chase & Co. decreased their price objective on Alphabet from $3,450.00 to $3,200.00 in a report on Wednesday, April 27th. Finally, Canaccord Genuity Group lowered their objective price on Alphabet from $3,500.00 to $3,300.00 and set a “buy” rating on the stock in a research report on Wednesday, April 27th. Twenty-nine investment analysts have rated the stock with a buy rating, according to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $3,315.38.
About Alphabet (Get Rating)
Alphabet Inc provides 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 Pets segments. The Google Services segment offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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