SBK Financial Inc. acquired a new position in shares of Alphabet Inc. (NASDAQ: GOOG – Get Rating) in the 4th quarter, HoldingsChannel reports. The fund acquired 340 shares of the information services provider’s stock, valued at approximately $ 984,000. Alphabet makes up 0.8% of SBK Financial Inc.’s holdings, making its stock its 29th biggest holding.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State Street Corp boosted its holdings in Alphabet by 0.6% in the 4th quarter. State Street Corp now owns 10,608,366 shares of the information services provider’s stock valued at $ 30,696,262,000 after purchasing an additional 58,955 shares during the period. Geode Capital Management LLC boosted its holdings 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 purchasing an additional 97,666 shares during the period. JPMorgan Chase & Co. boosted its holdings in Alphabet by 2.4% in 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 period. Alliancebernstein LP boosted its holdings in Alphabet by 1.6% in the 4th quarter. Alliancebernstein LP now owns 3,082,944 shares of the information services provider’s stock valued at $ 8,920,776,000 after purchasing an additional 48,928 shares during the period. Finally, Capital World Investors boosted its holdings in Alphabet by 1.7% in the 4th quarter. Capital World Investors now owns 3,081,304 shares of the information services provider’s stock valued at $ 8,916,156,000 after purchasing an additional 51,967 shares during the period. 31.20% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have weighed in on GOOG. Wedbush reissued an “outperform” rating on Alphabet shares in a report on Wednesday, April 20th. Canaccord Genuity Group dropped their price target on Alphabet shares from $ 3,500.00 to $ 3,300.00 and set a “buy” rating for the company in a research note on Wednesday, April 27th. JPMorgan Chase & Co. dropped their price objective on shares of Alphabet from $ 3,450.00 to $ 3,200.00 in a research note on Wednesday, April 27th. Raymond James dropped their price objective on shares of Alphabet from $ 3,630.00 to $ 3,180.00 in a research note on Wednesday, April 27th. Finally, Tigress Financial increased their price objective on shares of Alphabet from $ 3,540.00 to $ 3,670.00 in a research note on Friday, March 18th. Twenty-nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, Alphabet has an average rating of “Buy” and a consensus price target of $ 3,315.38.
Shares of NASDAQ: GOOG opened at $ 2,132.72 on Friday. Alphabet Inc. has a 12 month low of $ 2,044.16 and a 12 month high of $ 3,042.00. The company 50-day moving average price is $ 2,341.07 and its two-hundred day moving average price is $ 2,622.47. The company has a quick ratio of 2.85, a current ratio of 2.87 and a debt-to-equity ratio of 0.06. The firm has a market cap of $ 1.40 trillion, a P / E ratio of 19.29, a P / E / G ratio of 1.04 and a beta of 1.13.
Alphabet’s stock is going to split on the morning of Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly issued shares will be payable to shareholders after the closing bell on Friday, July 15th.
Alphabet (NASDAQ: GOOG – Get Rating) last issued its quarterly earnings data on Tuesday, April 26th. The information services provider reported $ 24.62 EPS for the quarter, missing analysts’ consensus estimates of $ 25.70 by ($ 1.08). Alphabet had a return on equity of 30.18% and a net margin of 27.57%. The company had revenue of $ 56.02 billion for the quarter, compared to the estimate consensus of $ 56.17 billion. During the same period in the prior year, the company earned $ 26.29 EPS. As a group, equities analysts predict that Alphabet Inc. will post 111.86 earnings per share for the current fiscal year.
In other news, Director Ann Mather sold 21 shares of the firm’s stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $ 2,102.84, for a total value of $ 44,159.64. Following the transaction, the director now owns 565 shares of the company stock, valued at approximately $ 1,188,104.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 1,276 shares of the firm’s stock in a transaction dated 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 directly owns 14,034 shares in the company, valued at approximately $ 39,526,620.66. The disclosure for this sale can be found here. In the last three months, insiders have sold 551,700 shares of company stock worth $ 25,637,428. Insiders own 12.99% of the company stock.
About Alphabet: (Get Rating)
Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets 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.
Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ: GOOG – Get Rating).
Receive News & Ratings for Alphabet Daily: – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Alphabet and related companies with MarketBeat.com’s FREE daily email newsletter.