Alphabet Inc. (NASDAQ:GOOGL) is Exchange Capital Management Inc.’s 2nd Largest Position

Exchange Capital Management Inc. raised its position in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 2.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,975 shares of the information services provider’s stock after purchasing an additional 163 shares during the quarter. Alphabet accounts for approximately 3.1% of Exchange Capital Management Inc.’s holdings, making the stock its 2nd biggest holding. Exchange Capital Management Inc.’s holdings in Alphabet were worth $16,619,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Alphabet in the fourth quarter valued at about $14,477,662,000. Allspring Global Investments Holdings LLC purchased a new position in Alphabet during the 4th quarter valued at about $1,680,864,000. Fundsmith LLP bought a new stake in shares of Alphabet in the 4th quarter valued at about $1,214,138,000. Invesco Ltd. boosted its stake in shares of Alphabet by 14.1% during the fourth quarter. Invesco Ltd. now owns 2,292,059 shares of the information services provider’s stock valued at $6,640,190,000 after purchasing an additional 283,907 shares in the last quarter. Finally, State Street Corp raised its stake in Alphabet by 1.4% in the fourth 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 in the last quarter. 41.70% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, major shareholder 2021 Gp L.L.C. Gv purchased 255,647 shares of the business’s stock in a transaction on Tuesday, May 10th. The shares were bought at an average price of $34.65 per share, for a total transaction of $8,858,168.55. Following the acquisition, the insider now directly owns 479,695 shares in the company, valued at $16,621,431.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder 2021 Gp L.L.C. Gv purchased 255,647 shares of the business’s stock in a transaction on Tuesday, May 10th. The shares were bought at an average price of $34.65 per share, for a total transaction of $8,858,168.55. Following the acquisition, the insider now directly owns 479,695 shares in the company, valued at $16,621,431.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 42 shares of the company’s stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $2,335.30, for a total value of $98,082.60. Following the sale, the chief accounting officer now owns 1,170 shares in the company, valued at approximately $2,732,301. The disclosure for this sale can be found here. Insiders have sold a total of 5,739 shares of company stock worth $12,616,323 in the last quarter. 11.44% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on GOOGL shares. Mizuho cut their price objective on shares of Alphabet from $180.00 to $175.00 and set a “buy” rating on the stock in a research report on Wednesday, April 27th. Piper Sandler reduced their price target on Alphabet from $145.00 to $138.75 and set an “overweight” rating on the stock in a research report on Thursday, June 2nd. KeyCorp decreased their price target on Alphabet from $170.00 to $153.75 and set an “overweight” rating for the company in a research note on Wednesday, April 20th. Citigroup decreased their price target on shares of Alphabet from $158.75 to $145.00 in a report on Thursday, July 14th. Finally, Morgan Stanley cut their target price on Alphabet to $150.00 and set an “overweight” rating on the stock in a research report on Monday. Three analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $159.02.

Alphabet Price Performance

GOOGL stock opened at $114.34 on Friday. The company has a current ratio of 2.87, a quick ratio of 2.85 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $75.29 billion, a PE ratio of 20.68, a P/E/G ratio of 1.13 and a beta of 1.10. Alphabet Inc. has a 12-month low of $101.88 and a 12-month high of $151.55. The business’s fifty day moving average price is $154.75 and its 200 day moving average price is $139.93.

Alphabet (NASDAQ:GOOGLGet Rating) last issued its quarterly earnings results on Tuesday, April 26th. The information services provider reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.05). 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 analysts’ expectations of $56.17 billion. During the same quarter last year, the company earned $1.31 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 5.44 EPS for the current year.

About Alphabet

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Alphabet Inc provides 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 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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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