VAUGHAN & Co SECURITIES INC. bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) in the first quarter, according to the company in its latest SEC filing. The fund bought 75 shares of the information services provider, valued at around $209,000.
Several other institutional investors have also recently bought and sold shares of the company. State Street Corp increased its position in Alphabet shares by 1.4% during the fourth quarter. State Street Corp now owns 11,252,792 shares of the information services provider worth $32,599,789,000 after buying an additional 157,280 shares last quarter. Geode Capital Management LLC increased its position in Alphabet shares by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 5,322,633 shares of the information services provider worth $15,381,257,000 after purchasing an additional 116,084 shares last quarter. Norges Bank bought a new position in Alphabet shares during Q4 for a value of approximately $14,477,662,000. Massachusetts Financial Services Co. MA increased its position in Alphabet shares by 0.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,825,959 shares of the information services provider worth $8,186,916,000 after buying 20,120 additional shares last quarter. Finally, Invesco Ltd. increased its position in Alphabet shares by 14.1% during the 4th quarter. Invesco Ltd. now owns 2,292,059 shares of the information services provider worth $6,640,190,000 after purchasing an additional 283,907 shares last quarter. 41.70% of the shares are currently held by hedge funds and other institutional investors.
A number of equity research analysts have recently commented on the stock. Stifel Nicolaus lowered his price target on Alphabet shares from $3,500.00 to $3,100.00 and set a “buy” rating on the stock in a Wednesday, April 27 report. Monness Crespi & Hardt lowered their price target on Alphabet shares to $2,900.00 in a Tuesday, July 5 report. Citigroup lowered its price target on Alphabet shares from $3,500.00 to $3,175.00 in a Wednesday, April 27 report. Mizuho lowered its price target on Alphabet shares from $3,600.00 to $3,500.00 and set a “buy” rating on the stock in a Wednesday, April 27 report. Finally, Canaccord Genuity Group lowered its price target on Alphabet shares from $3,500.00 to $3,300.00 and set a “buy” rating on the stock in a Wednesday 27 report. april. One analyst gave the stock a hold rating, thirty-four issued a buy rating and one gave the company a high buy rating. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Buy” and an average price target of $3,251.65.
NASDAQ:GOOGL shares opened at $2,387.07 on Friday. Alphabet Inc. has a 12-month low of $2,037.69 and a 12-month high of $3,030.93. The company has a market capitalization of $1.57 trillion, a price-to-earnings ratio of 21.59, a growth price-to-earnings ratio of 1.16 and a beta of 1.10. The company has a 50-day moving average price of $2,256.40 and a 200-day moving average price of $2,543.02. The company has a current ratio of 2.87, a quick ratio of 2.85 and a debt ratio of 0.06.
Alphabet shares are to be split on the morning of Monday, July 18. The 20-1 split was announced on Tuesday, February 1. The newly created shares will be payable to shareholders after the closing bell on Friday July 15.
Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly results on Tuesday, April 26. The information services provider reported earnings per share (EPS) of $24.62 for the quarter, missing analyst consensus estimates of $25.70 per ($1.08). Alphabet had a return on equity of 30.18% and a net margin of 27.57%. The company posted revenue of $56.02 billion in the quarter, versus a consensus estimate of $56.17 billion. In the same period a year earlier, the company earned earnings per share of $26.29. As a group, research analysts expect Alphabet Inc. to post EPS of 110.62 for the current fiscal year.
In other Alphabet news, SVP Prabhakar Raghavan sold 1,109 shares of the company in a trade dated Friday, July 1. The shares were sold at an average price of $2,166.74, for a total value of $2,402,914.66. Following the sale, the senior vice president now owns 1,608 shares of the company, valued at $3,484,117.92. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. Additionally, SVP Philipp Schindler sold 3,834 shares of the company in a trade dated Tuesday, July 5. The stock was sold at an average price of $2,182.62, for a total transaction of $8,368,165.08. Following the completion of the sale, the senior vice president now owns 12,676 shares of the company, valued at approximately $27,666,891.12. The disclosure of this sale can be found here. In the past three months, insiders have sold 555,362 shares of the company valued at $32,765,727. 11.44% of the shares are held by insiders.
Alphabet Company Profile (Get a 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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