Level Financial Advisors Inc. decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 19.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,170 shares of the information services provider’s stock after selling 1,248 shares during the quarter. Level Financial Advisors Inc.’s holdings in Alphabet were worth $677,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in GOOGL. Vanguard Group Inc. boosted 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 buying an additional 453,413,389 shares during the last quarter. State Street Corp lifted its holdings in Alphabet by 1,900.6% during the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after purchasing an additional 206,300,042 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in 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 valued at $15,036,178,000 after purchasing an additional 170,267,122 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in 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 valued at $11,106,502,000 after purchasing an additional 109,870,525 shares in the last quarter. Finally, Norges Bank purchased a new position in Alphabet during the fourth quarter valued at approximately $8,335,063,000. Hedge funds and other institutional investors own 35.08% of the company’s stock.
Insider Activity
In other news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $139.93, for a total transaction of $27,986.00. Following the completion of the sale, the director now directly owns 7,384 shares of the company’s stock, valued at $1,033,243.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $141.43, for a total value of $3,182,175.00. Following the completion of the sale, the chief executive officer now directly owns 2,407,688 shares of the company’s stock, valued at $340,519,313.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $139.93, for a total transaction of $27,986.00. Following the completion of the transaction, the director now owns 7,384 shares in the company, valued at approximately $1,033,243.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 144,719 shares of company stock valued at $19,632,188. 0.88% of the stock is currently owned by company insiders.
Alphabet Trading Up 0.5 %
GOOGL stock opened at $138.92 on Thursday. The company has a quick ratio of 2.01, a current ratio of 2.04 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a twelve month low of $84.86 and a twelve month high of $142.68. The stock has a market capitalization of $1.74 trillion, a price-to-earnings ratio of 26.66, a price-to-earnings-growth ratio of 1.25 and a beta of 1.05. The firm’s fifty day simple moving average is $134.05 and its two-hundred day simple moving average is $131.29.
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its earnings results on Tuesday, October 24th. The information services provider reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.10. The firm had revenue of $64.05 billion during the quarter, compared to analyst estimates of $63.13 billion. Alphabet had a net margin of 22.46% and a return on equity of 25.24%. As a group, analysts anticipate that Alphabet Inc. will post 5.83 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the stock. Monness Crespi & Hardt downgraded shares of Alphabet from a “buy” rating to a “neutral” rating in a report on Wednesday, October 25th. Wells Fargo & Company lifted their price target on shares of Alphabet from $126.00 to $129.00 and gave the company an “equal weight” rating in a report on Thursday, November 16th. Tigress Financial lifted their price target on shares of Alphabet from $172.00 to $176.00 and gave the company a “strong-buy” rating in a report on Tuesday, November 21st. Rosenblatt Securities lifted their price target on shares of Alphabet from $163.00 to $174.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. Finally, Roth Mkm lifted their price objective on shares of Alphabet from $152.00 to $166.00 and gave the company a “buy” rating in a research report on Thursday, December 7th. Five investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $147.53.
Get Our Latest Stock Analysis on Alphabet
About Alphabet
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.
Further Reading
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