Trek Financial LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 11.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,940 shares of the information services provider’s stock after selling 1,596 shares during the period. Trek Financial LLC’s holdings in Alphabet were worth $1,239,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in GOOGL. Vanguard Group Inc. lifted its position in 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 valued at $45,628,484,000 after acquiring an additional 453,413,389 shares during the period. State Street Corp grew its stake in shares of Alphabet by 1,900.6% in 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 last quarter. Moneta Group Investment Advisors LLC grew its stake in shares of Alphabet by 111,197.8% in the 4th 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 buying an additional 170,267,122 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Alphabet by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 117,077,511 shares of the information services provider’s stock worth $10,310,795,000 after buying an additional 1,923,667 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake 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 worth $11,106,502,000 after buying an additional 109,870,525 shares during the last quarter. Institutional investors own 35.08% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have commented on GOOGL shares. Wells Fargo & Company boosted their target price on Alphabet from $116.00 to $121.00 in a report on Wednesday, July 26th. Tigress Financial increased their price target on shares of Alphabet from $160.00 to $172.00 and gave the company a “strong-buy” rating in a report on Friday, July 14th. Stifel Nicolaus upped their price objective on Alphabet from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, July 21st. JPMorgan Chase & Co. boosted their price target on Alphabet from $121.00 to $150.00 in a research note on Wednesday, July 26th. Finally, UBS Group cut Alphabet from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $123.00 to $132.00 in a research note on Monday, June 26th. Four research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $143.89.
Get Our Latest Research Report on GOOGL
Alphabet Stock Up 0.8 %
NASDAQ GOOGL opened at $136.38 on Friday. The company has a market capitalization of $1.72 trillion, a P/E ratio of 28.89, a P/E/G ratio of 1.56 and a beta of 1.06. The stock has a 50 day moving average price of $127.94 and a 200-day moving average price of $116.06. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.14 and a current ratio of 2.17. Alphabet Inc. has a one year low of $83.34 and a one year high of $138.00.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $60.24 billion. During the same quarter last year, the business posted $1.21 earnings per share. As a group, equities analysts predict that Alphabet Inc. will post 5.68 EPS for the current fiscal year.
Insider Transactions at Alphabet
In related news, CAO Amie Thuener O’toole sold 3,749 shares of Alphabet stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $136.28, for a total transaction of $510,913.72. Following the completion of the transaction, the chief accounting officer now directly owns 25,568 shares in the company, valued at $3,484,407.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CAO Amie Thuener O’toole sold 3,749 shares of Alphabet stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $136.28, for a total value of $510,913.72. Following the completion of the transaction, the chief accounting officer now owns 25,568 shares in the company, valued at approximately $3,484,407.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 16,083 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $120.31, for a total value of $1,934,945.73. Following the completion of the sale, the senior vice president now directly owns 127,028 shares in the company, valued at $15,282,738.68. The disclosure for this sale can be found here. Insiders have sold a total of 185,020 shares of company stock valued at $13,551,820 in the last 90 days. Insiders own 0.88% of the company’s stock.
Alphabet Company 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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