Shayne & Jacobs LLC Raises Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Shayne & Jacobs LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 27,747 shares of the information services provider's stock after buying an additional 1,440 shares during the period. Alphabet comprises approximately 1.1% of Shayne & Jacobs LLC's holdings, making the stock its 11th largest position. Shayne & Jacobs LLC's holdings in Alphabet were worth $4,291,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC increased its position in Alphabet by 9.8% in the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after buying an additional 22,100,902 shares in the last quarter. Norges Bank bought a new position in shares of Alphabet during the 4th quarter valued at approximately $24,383,677,000. Price T Rowe Associates Inc. MD grew its stake in shares of Alphabet by 8.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider's stock valued at $18,672,198,000 after acquiring an additional 7,574,417 shares during the period. Capital Research Global Investors raised its stake in Alphabet by 16.2% during the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after acquiring an additional 10,037,685 shares during the period. Finally, Northern Trust Corp raised its stake in Alphabet by 17.0% during the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after acquiring an additional 10,135,430 shares during the period. 40.03% of the stock is owned by institutional investors.

Alphabet Price Performance

GOOGL stock traded up $1.94 during midday trading on Thursday, reaching $192.17. The stock had a trading volume of 74,740,490 shares, compared to its average volume of 39,272,972. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The company's fifty day simple moving average is $175.23 and its 200 day simple moving average is $173.10. The company has a market cap of $2.33 trillion, a price-to-earnings ratio of 20.47, a price-to-earnings-growth ratio of 1.33 and a beta of 1.00.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a net margin of 31.12% and a return on equity of 35.22%. During the same period in the prior year, the business earned $1.89 earnings per share. As a group, sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the sale, the chief executive officer directly owned 2,527,392 shares in the company, valued at $466,000,536.96. This represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 249,409 shares of company stock valued at $43,523,710. Corporate insiders own 11.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GOOGL. Needham & Company LLC upped their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday. Tigress Financial increased their price target on Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, April 30th. Wedbush boosted their price objective on Alphabet from $200.00 to $225.00 and gave the company an "outperform" rating in a research report on Thursday. Truist Financial reaffirmed a "buy" rating and issued a $200.00 price objective on shares of Alphabet in a research note on Wednesday, July 2nd. Finally, Roth Capital upped their price target on Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $211.32.

About Alphabet

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.