Magnolia Capital Management Ltd. raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 6.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,390 shares of the information services provider’s stock after purchasing an additional 1,015 shares during the quarter. Alphabet accounts for 2.1% of Magnolia Capital Management Ltd.’s portfolio, making the stock its 10th largest holding. Magnolia Capital Management Ltd.’s holdings in Alphabet were worth $2,310,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of GOOG. Moneta Group Investment Advisors LLC lifted its holdings in Alphabet by 61,587.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock worth $11,539,004,000 after buying an additional 129,835,437 shares in the last quarter. FMR LLC lifted its holdings in Alphabet by 3.8% during the 3rd quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock worth $15,852,868,000 after buying an additional 4,348,188 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Alphabet by 11.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after buying an additional 9,703,425 shares in the last quarter. Morgan Stanley lifted its holdings in Alphabet by 37.6% during the 4th quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock worth $6,368,961,000 after buying an additional 19,612,974 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Alphabet by 2.3% during the 3rd quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock worth $7,550,942,000 after buying an additional 1,275,060 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts have issued reports on GOOG shares. Susquehanna upped their price objective on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Raymond James upped their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alphabet currently has an average rating of “Buy” and an average price target of $146.33.
Read Our Latest Report on GOOG
Alphabet Stock Performance
Shares of Alphabet stock opened at $151.77 on Monday. The firm has a fifty day moving average of $144.27 and a two-hundred day moving average of $139.09. The stock has a market capitalization of $1.89 trillion, a price-to-earnings ratio of 26.17, a PEG ratio of 1.40 and a beta of 1.05. Alphabet Inc. has a 52 week low of $100.28 and a 52 week high of $155.20. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10.
Alphabet (NASDAQ:GOOG – Get Free Report) last issued its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $85.28 billion. During the same quarter in the previous year, the company posted $1.05 EPS. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. As a group, equities research analysts predict that Alphabet Inc. will post 6.77 EPS for the current year.
Insider Activity at Alphabet
In related news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the sale, the chief financial officer now owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the sale, the chief financial officer now owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $148.78, for a total transaction of $3,347,550.00. Following the completion of the sale, the chief executive officer now owns 2,310,191 shares of the company’s stock, valued at approximately $343,710,216.98. The disclosure for this sale can be found here. Insiders sold a total of 279,659 shares of company stock worth $39,460,310 in the last quarter. Corporate insiders own 12.99% 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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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