Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by Pictet Asset Management SA

Pictet Asset Management SA raised its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,657.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,250,538 shares of the information services provider’s stock after acquiring an additional 4,008,631 shares during the quarter. Pictet Asset Management SA’s holdings in Alphabet were worth $406,838,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Union Investments & Development Ltd. grew its position in shares of Alphabet by 1,900.0% in the third quarter. Union Investments & Development Ltd. now owns 355,940 shares of the information services provider’s stock valued at $34,046,000 after purchasing an additional 338,143 shares during the period. Analyst IMS Investment Management Services Ltd. grew its stake in shares of Alphabet by 1,800.6% during the 3rd quarter. Analyst IMS Investment Management Services Ltd. now owns 6,880 shares of the information services provider’s stock valued at $670,000 after buying an additional 6,518 shares during the period. Lindsell Train Ltd increased its holdings in shares of Alphabet by 1,900.0% during the 3rd quarter. Lindsell Train Ltd now owns 16,000 shares of the information services provider’s stock worth $1,531,000 after buying an additional 15,200 shares during the last quarter. ING Groep NV raised its position in shares of Alphabet by 1,763.2% in the 3rd quarter. ING Groep NV now owns 1,616,601 shares of the information services provider’s stock worth $154,628,000 after buying an additional 1,529,837 shares during the period. Finally, Bowen Hanes & Co. Inc. boosted its holdings in Alphabet by 1,899.1% in the third quarter. Bowen Hanes & Co. Inc. now owns 10,995 shares of the information services provider’s stock valued at $1,052,000 after acquiring an additional 10,445 shares during the last quarter. 34.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Loop Capital raised their price objective on Alphabet from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, February 8th. MKM Partners boosted their price objective on shares of Alphabet from $120.00 to $126.00 in a research note on Friday, February 3rd. Roth Capital reissued a “buy” rating on shares of Alphabet in a research report on Friday, February 3rd. Jefferies Financial Group restated a “buy” rating and set a $130.00 target price on shares of Alphabet in a report on Friday, February 10th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $115.00 price target on shares of Alphabet in a report on Wednesday. Five investment analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $132.32.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the company’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $90.15, for a total value of $57,425.55. Following the completion of the transaction, the chief accounting officer now owns 25,442 shares in the company, valued at approximately $2,293,596.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the business’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $90.15, for a total transaction of $57,425.55. Following the completion of the transaction, the chief accounting officer now owns 25,442 shares in the company, valued at approximately $2,293,596.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ann Mather sold 380 shares of the firm’s stock in a transaction on Tuesday, December 27th. The shares were sold at an average price of $89.24, for a total value of $33,911.20. Following the transaction, the director now directly owns 11,300 shares in the company, valued at $1,008,412. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,745 shares of company stock worth $3,424,078. Insiders own 11.44% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $94.25 on Thursday. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06. The firm’s 50-day moving average price is $94.07 and its two-hundred day moving average price is $97.03. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $143.79. The stock has a market capitalization of $1.21 trillion, a P/E ratio of 20.71, a P/E/G ratio of 1.31 and a beta of 1.09.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.09). Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The company had revenue of $76.05 billion during the quarter, compared to the consensus estimate of $63.15 billion. During the same period last year, the business posted $1.53 EPS. As a group, sell-side analysts forecast that Alphabet Inc. will post 5.12 earnings per share for the current year.

Alphabet Company Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.