Ardevora Asset Management LLP Has $56.84 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Ardevora Asset Management LLP lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 3.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,083 shares of the information services provider’s stock after purchasing an additional 903 shares during the quarter. Alphabet makes up about 0.9% of Ardevora Asset Management LLP’s holdings, making the stock its 18th biggest position. Ardevora Asset Management LLP’s holdings in Alphabet were worth $56,842,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Dravo Bay LLC acquired a new position in Alphabet in the 1st quarter valued at $28,000. Financial Enhancement Group LLC acquired a new position in Alphabet in the 1st quarter valued at $31,000. Wealthgate Family Office LLC acquired a new position in Alphabet in the 4th quarter valued at $32,000. Verity Asset Management Inc. grew its stake in Alphabet by 536,206.4% in the 1st quarter. Verity Asset Management Inc. now owns 589,937 shares of the information services provider’s stock valued at $39,000 after buying an additional 589,827 shares during the last quarter. Finally, Advocacy Wealth Management Services LLC grew its stake in Alphabet by 72.7% in the 2nd quarter. Advocacy Wealth Management Services LLC now owns 19 shares of the information services provider’s stock valued at $41,000 after buying an additional 8 shares during the last quarter. Institutional investors and hedge funds own 1.88% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL opened at $103.07 on Tuesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.78 and a current ratio of 2.81. Alphabet Inc. has a twelve month low of $100.94 and a twelve month high of $151.55. The firm’s 50 day moving average price is $112.93 and its two-hundred day moving average price is $118.73. The firm has a market cap of $1.34 trillion, a P/E ratio of 19.18, a PEG ratio of 1.66 and a beta of 1.09.

Alphabet (NASDAQ:GOOGLGet Rating) last announced its quarterly earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). Alphabet had a net margin of 25.89% and a return on equity of 28.65%. The company had revenue of $57.47 billion during the quarter, compared to the consensus estimate of $57.55 billion. During the same period in the previous year, the firm posted $27.26 EPS. On average, analysts forecast that Alphabet Inc. will post 5.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of research analyst reports. Susquehanna lowered their target price on shares of Alphabet from $187.50 to $150.00 and set a “positive” rating on the stock in a research note on Wednesday, July 27th. MKM Partners reduced their price target on shares of Alphabet from $165.00 to $140.00 and set a “buy” rating for the company in a report on Monday, July 18th. JMP Securities reduced their price target on shares of Alphabet from $165.00 to $160.00 and set a “market outperform” rating for the company in a report on Thursday, June 30th. Evercore ISI reduced their price target on shares of Alphabet from $155.50 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, July 27th. Finally, Citigroup reduced their price target on shares of Alphabet from $145.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, July 27th. Five investment analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $147.41.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Ann Mather sold 20 shares of Alphabet stock in a transaction that occurred on Monday, June 27th. The shares were sold at an average price of $2,383.32, for a total value of $47,666.40. Following the transaction, the director now owns 565 shares of the company’s stock, valued at $1,346,575.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Ann Mather sold 20 shares of the business’s stock in a transaction on Monday, June 27th. The shares were sold at an average price of $2,383.32, for a total value of $47,666.40. Following the sale, the director now owns 565 shares of the company’s stock, valued at $1,346,575.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 1,109 shares of the business’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total transaction of $2,402,914.66. Following the completion of the sale, the senior vice president now directly owns 1,608 shares in the company, valued at approximately $3,484,117.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,536 shares of company stock valued at $15,729,998. 11.44% of the stock is currently owned by corporate insiders.

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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