Alphabet Inc. (NASDAQ:GOOGL) is River & Mercantile Asset Management LLP’s 7th Largest Position

River & Mercantile Asset Management LLP lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,395.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 111,270 shares of the information services provider’s stock after purchasing an additional 103,827 shares during the quarter. Alphabet comprises approximately 1.9% of River & Mercantile Asset Management LLP’s holdings, making the stock its 7th largest holding. River & Mercantile Asset Management LLP’s holdings in Alphabet were worth $10,646,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Alphabet by 1,919.4% in the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after acquiring an additional 453,413,389 shares during the period. State Street Corp boosted its holdings in Alphabet by 1,900.6% in the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after acquiring an additional 206,300,042 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Alphabet by 1,759.2% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock worth $11,106,502,000 after acquiring an additional 109,870,525 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Alphabet by 1,955.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 61,134,061 shares of the information services provider’s stock worth $5,847,474,000 after acquiring an additional 58,159,150 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Alphabet by 1,896.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 58,060,946 shares of the information services provider’s stock worth $5,553,529,000 after acquiring an additional 55,153,448 shares during the period. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of recent analyst reports. KeyCorp cut their target price on Alphabet from $118.00 to $117.00 and set an “overweight” rating on the stock in a research report on Monday, January 30th. Mizuho cut their target price on Alphabet from $140.00 to $135.00 and set a “buy” rating on the stock in a research report on Wednesday, November 30th. Rosenblatt Securities cut their target price on Alphabet from $130.00 to $128.00 and set a “buy” rating on the stock in a research report on Friday, February 3rd. StockNews.com initiated coverage on Alphabet in a research report on Thursday. They issued a “hold” rating on the stock. Finally, Evercore ISI cut their target price on Alphabet from $130.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 21st. Five 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 company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $132.32.

Alphabet Stock Up 4.4 %

Shares of NASDAQ GOOGL opened at $100.32 on Friday. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $143.79. The company has a current ratio of 2.38, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 22.04, a PEG ratio of 1.26 and a beta of 1.09. The business has a 50-day moving average of $94.79 and a 200-day moving average of $96.32.

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

Insiders Place Their Bets

In related news, SVP Prabhakar Raghavan sold 22,203 shares of the stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the sale, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Prabhakar Raghavan sold 22,203 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total value of $1,992,719.25. Following the transaction, the senior vice president now owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 37,500 shares of the firm’s stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $100.00, for a total value of $3,750,000.00. Following the completion of the transaction, the director now directly owns 144,740 shares in the company, valued at approximately $14,474,000. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 74,245 shares of company stock worth $7,174,078. 11.44% of the stock is owned by corporate insiders.

Alphabet 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.