Quinn Opportunity Partners LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 96.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,900 shares of the information services provider's stock after selling 121,834 shares during the period. Quinn Opportunity Partners LLC's holdings in Alphabet were worth $467,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in GOOGL. Vanguard Group Inc. raised its holdings in shares of Alphabet by 1,919.4% in the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider's stock worth $45,628,484,000 after acquiring an additional 453,413,389 shares during the last quarter. State Street Corp increased its holdings in Alphabet by 1,900.6% during 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 purchasing an additional 206,300,042 shares in the last quarter. Moneta Group Investment Advisors LLC raised its stake in shares of Alphabet by 111,197.8% in the fourth 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 purchasing an additional 170,267,122 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Alphabet by 1,759.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider's stock valued at $11,106,502,000 after purchasing an additional 109,870,525 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $8,335,063,000. 35.08% of the stock is owned by institutional investors and hedge funds.
Alphabet Price Performance
Shares of NASDAQ:GOOGL opened at $134.99 on Thursday. The company has a 50 day moving average of $133.46 and a 200 day moving average of $129.03. 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 stock has a market cap of $1.69 trillion, a P/E ratio of 25.91, a P/E/G ratio of 1.44 and a beta of 1.05. Alphabet Inc. has a 12 month low of $84.86 and a 12 month high of $141.22.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Tuesday, October 24th. The information services provider reported $1.55 EPS for the quarter, beating the consensus estimate of $1.45 by $0.10. The firm had revenue of $64.05 billion during the quarter, compared to the consensus estimate of $63.13 billion. Alphabet had a net margin of 22.46% and a return on equity of 25.24%. As a group, sell-side analysts forecast that Alphabet Inc. will post 5.75 EPS for the current fiscal year.
Insider Buying and Selling
In other Alphabet news, Director John L. Hennessy sold 200 shares of the firm's stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $139.93, for a total value of $27,986.00. Following the sale, the director now owns 7,384 shares of the company's stock, valued at approximately $1,033,243.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Frances Arnold sold 250 shares of Alphabet stock in a transaction on Monday, October 30th. The shares were sold at an average price of $124.36, for a total transaction of $31,090.00. Following the completion of the sale, the director now directly owns 14,226 shares of the company's stock, valued at approximately $1,769,145.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the company's stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $139.93, for a total transaction of $27,986.00. Following the completion of the transaction, the director now owns 7,384 shares of the company's stock, valued at $1,033,243.12. The disclosure for this sale can be found here. Insiders sold a total of 176,126 shares of company stock worth $23,365,557 over the last ninety days. 0.88% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
GOOGL has been the subject of a number of analyst reports. StockNews.com upgraded Alphabet from a "buy" rating to a "strong-buy" rating in a research note on Thursday, November 23rd. Needham & Company LLC raised their price target on shares of Alphabet from $140.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, October 25th. JMP Securities upped their price objective 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. Loop Capital increased their price objective on shares of Alphabet from $125.00 to $140.00 and gave the company a "hold" rating in a research note on Friday, August 18th. Finally, Rosenblatt Securities boosted their target price on Alphabet from $163.00 to $174.00 and gave the stock a "buy" rating in a research note on Wednesday, October 25th. Five equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and a consensus target price of $147.12.
Check Out Our Latest Stock Analysis on Alphabet
About Alphabet
(
Free Report)
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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