Prudential PLC Grows Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Prudential PLC grew its position in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 45.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,062 shares of the information services provider’s stock after acquiring an additional 4,722 shares during the quarter. Alphabet comprises 0.6% of Prudential PLC’s holdings, making the stock its 23rd largest position. Prudential PLC’s holdings in Alphabet were worth $41,893,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dravo Bay LLC purchased a new position in Alphabet during the first quarter worth approximately $28,000. Wealthgate Family Office LLC purchased a new position in Alphabet during the fourth quarter worth approximately $32,000. Joseph Group Capital Management purchased a new position in Alphabet during the fourth quarter worth approximately $2,040,000. CarsonAllaria Wealth Management Ltd. purchased a new position in Alphabet during the fourth quarter worth approximately $55,000. Finally, Cordant Inc. purchased a new position in Alphabet during the first quarter worth approximately $56,000. Hedge funds and other institutional investors own 1.88% of the company’s stock.

Alphabet Stock Down 1.0 %

Shares of NASDAQ GOOGL opened at $108.38 on Friday. The company has a market capitalization of $1.41 trillion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of 1.73 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 2.78. The business has a 50-day moving average of $113.66 and a two-hundred day moving average of $119.79. Alphabet Inc. has a 1 year low of $101.88 and a 1 year high of $151.55.

Alphabet (NASDAQ:GOOGLGet Rating) last announced its quarterly earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). Alphabet had a return on equity of 28.65% and a net margin of 25.89%. The business had revenue of $57.47 billion for the quarter, compared to analysts’ expectations of $57.55 billion. During the same period last year, the firm earned $27.26 earnings per share. On average, analysts forecast that Alphabet Inc. will post 5.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on GOOGL. KeyCorp reduced their price objective on Alphabet from $153.00 to $125.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 26th. Exane BNP Paribas cut Alphabet from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 20th. Morgan Stanley raised their target price on Alphabet from $140.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 27th. Evercore ISI cut their target price on Alphabet from $155.50 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. Finally, Oppenheimer cut their target price on Alphabet to $155.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. Five analysts have 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $147.41.

Insider Activity

In other news, Director Ann Mather sold 280 shares of the business’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $115.15, for a total value of $32,242.00. Following the completion of the sale, the director now directly owns 11,420 shares of the company’s stock, valued at approximately $1,315,013. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Ann Mather sold 280 shares of the business’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $115.15, for a total value of $32,242.00. Following the completion of the sale, the director now directly owns 11,420 shares of the company’s stock, valued at approximately $1,315,013. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 42 shares of the business’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $2,166.74, for a total value of $91,003.08. Following the completion of the sale, the chief accounting officer now directly owns 1,192 shares of the company’s stock, valued at $2,582,754.08. The disclosure for this sale can be found here. In the last three months, insiders sold 43,036 shares of company stock valued at $15,564,998. Insiders own 11.44% of the company’s stock.

Alphabet Company Profile

(Get Rating)

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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