Andra AP fonden boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 11.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 39,442 shares of the information services provider’s stock after acquiring an additional 4,191 shares during the quarter. Andra AP fonden’s holdings in Alphabet were worth $4,721,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Live Oak Investment Partners bought a new stake in Alphabet during the fourth quarter worth $26,000. Armor Investment Advisors LLC purchased a new position in Alphabet during the 2nd quarter worth $28,000. CarsonAllaria Wealth Management Ltd. grew its stake in shares of Alphabet by 136.7% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 284 shares of the information services provider’s stock worth $34,000 after acquiring an additional 164 shares in the last quarter. Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Alphabet in the fourth quarter valued at about $34,000. Finally, Turim 21 Investimentos Ltda. bought a new position in shares of Alphabet during the third quarter valued at about $38,000. Institutional investors and hedge funds own 35.08% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on the stock. JMP Securities lifted their target price on shares of Alphabet from $138.00 to $140.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 25th. Piper Sandler boosted their price objective on Alphabet from $147.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 25th. Loop Capital upped their price objective on Alphabet from $125.00 to $140.00 and gave the company a “hold” rating in a research note on Friday, August 18th. Mizuho lifted their target price on Alphabet from $135.00 to $155.00 in a research note on Wednesday, July 26th. Finally, Morgan Stanley decreased their price objective on shares of Alphabet from $155.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, October 25th. Five investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.
Insider Transactions at Alphabet
In other news, Director Kavitark Ram Shriram sold 75,000 shares of the stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $131.09, for a total transaction of $9,831,750.00. Following the transaction, the director now directly owns 104,364 shares in the company, valued at approximately $13,681,076.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, Director Kavitark Ram Shriram sold 75,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $131.09, for a total value of $9,831,750.00. Following the completion of the sale, the director now owns 104,364 shares of the company’s stock, valued at $13,681,076.76. The sale was disclosed in a legal filing 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 stock was sold at an average price of $133.82, for a total transaction of $2,152,227.06. Following the transaction, the senior vice president now directly owns 75,621 shares in the company, valued at $10,119,602.22. The disclosure for this sale can be found here. In the last ninety days, insiders sold 176,576 shares of company stock valued at $23,425,367. Insiders own 0.88% of the company’s stock.
Alphabet Stock Performance
Shares of GOOGL opened at $136.25 on Tuesday. Alphabet Inc. has a 12-month low of $84.86 and a 12-month high of $141.22. The company has a current ratio of 2.04, a quick ratio of 2.01 and a debt-to-equity ratio of 0.05. The company has a market cap of $1.71 trillion, a PE ratio of 26.15, a price-to-earnings-growth ratio of 1.51 and a beta of 1.05. The stock has a 50-day moving average price of $133.42 and a 200-day moving average price of $127.88.
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its earnings results on Tuesday, October 24th. The information services provider reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.10. The business 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, equities analysts forecast that Alphabet Inc. will post 5.74 earnings per share for the current fiscal year.
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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