EP Wealth Advisors LLC lifted its position in shares of Alphabet Inc. (NASDAQ: GOOGL – Get Rating) by 1.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,784 shares of the information services provider’s stock after buying an additional 445 shares during the quarter. Alphabet makes up 1.9% of EP Wealth Advisors LLC’s holdings, making the stock its 6th largest holding. EP Wealth Advisors LLC’s holdings in Alphabet were worth $ 80,491,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. State Street Corp increased its holdings in shares of Alphabet by 1.4% in the 4th quarter. State Street Corp now owns 11,252,792 shares of the information services provider’s stock worth $ 32,599,789,000 after buying an additional 157,280 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Alphabet by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 5,322,633 shares of the information services provider’s stock worth $ 15,381,257,000 after buying an additional 116,084 shares during the last quarter. Morgan Stanley increased its holdings in shares of Alphabet by 1.2% in the 2nd quarter. Morgan Stanley now owns 3,216,517 shares of the information services provider’s stock worth $ 7,854,059,000 after buying an additional 39,437 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Alphabet by 0.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,825,959 shares of the information services provider’s stock worth $ 8,186,916,000 after buying an additional 20,120 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Alphabet by 14.1% in the 4th quarter. Invesco Ltd. now owns 2,292,059 shares of the information services provider’s stock worth $ 6,640,190,000 after buying an additional 283,907 shares during the last quarter. Institutional investors own 41.70% of the company stock.
A number of analysts have recently weighed in on the stock. StockNews.com downgraded shares of Alphabet from a “buy” rating to a “hold” rating in a report on Friday, April 29th. Truist Financial cut their price target on shares of Alphabet from $ 3,600.00 to $ 3,500.00 and set a “buy” rating on the stock in a report on Wednesday, April 27th. Tigress Financial upped their price target on shares of Alphabet from $ 3,540.00 to $ 3,670.00 and gave the company a “strong-buy” rating in a report on Friday, March 18th. Rosenblatt Securities began coverage on shares of Alphabet in a report on Tuesday, April 19th. They set a “buy” rating and a $ 4,183.00 price target on the stock. Finally, Jefferies Financial Group cut their price target on shares of Alphabet from $ 3,400.00 to $ 3,100.00 in a report on Tuesday, May 24th. One equities research analyst has rated the stock with a hold rating, thirty-four have assigned a buy rating and one has assigned a strong buy rating to the company stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $ 3,323.54.
In other news, Director Brin Sergey sold 2,639 shares of the stock in a transaction on Monday, April 11th. The shares were sold at an average price of $ 2,632.28, for a total value of $ 6,946,586.92. Following the sale, the director now owns 18,599,842 shares in the company, valued at $ 48,959,992,099.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 33 shares of the stock in a transaction on Thursday, June 9th. The stock was sold at an average price of $ 2,348.39, for a total transaction of $ 77,496.87. Following the completion of the sale, the director now owns 78 shares in the company, valued at approximately $ 183,174.42. The disclosure for this sale can be found here. Insiders have sold a total of 550,357 shares of company stock worth $ 21,855,978 in the last 90 days. 11.44% of the stock is currently owned by company insiders.
NASDAQ: GOOGL opened at $ 2,195.29 on Thursday. Alphabet Inc. has a 52 week low of $ 2,037.69 and a 52 week high of $ 3,030.93. The firm has a 50 day moving average of $ 2,345.35 and a 200 day moving average of $ 2,622.03. 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 stock has a market capitalization of $ 1.45 trillion, a price-to-earnings ratio of 19.86, a PEG ratio of 1.05 and a beta of 1.13.
Shares of Alphabet are set to split before the market opens on Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly issued shares will be issued to shareholders after the market closes on Friday, July 15th.
Alphabet (NASDAQ: GOOGL – Get Rating) last posted its earnings results on Tuesday, April 26th. The information services provider reported $ 24.62 EPS for the quarter, missing analysts’ consensus estimates of $ 25.51 by ($ 0.89). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. During the same quarter in the previous year, the firm posted $ 26.29 EPS. As a group, analysts expect that Alphabet Inc. will post 111.86 EPS for the current year.
Alphabet Company Profile: (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.
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