Headinvest LLC Has $4.01 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Headinvest LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1,963.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,929 shares of the information services provider’s stock after purchasing an additional 39,897 shares during the quarter. Headinvest LLC’s holdings in Alphabet were worth $4,011,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Alphabet by 1,919.4% during the third quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after purchasing an additional 453,413,389 shares during the period. State Street Corp raised its position in shares of Alphabet by 1,900.6% during the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after purchasing an additional 206,300,042 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Alphabet by 1,759.2% during the third 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 buying an additional 109,870,525 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Alphabet by 1,955.0% during the third 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 buying an additional 58,159,150 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Alphabet by 1,896.9% during the third 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 buying an additional 55,153,448 shares in the last quarter. 34.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GOOGL has been the subject of several recent research reports. Truist Financial decreased their price target on Alphabet from $130.00 to $120.00 and set a “buy” rating for the company in a report on Friday, February 3rd. Mizuho decreased their price target on Alphabet from $140.00 to $135.00 and set a “buy” rating for the company in a report on Wednesday, November 30th. Evercore ISI decreased their price target on Alphabet from $130.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, December 21st. New Street Research assumed coverage on Alphabet in a report on Wednesday, January 4th. They set a “buy” rating and a $118.00 price target for the company. Finally, Needham & Company LLC restated a “buy” rating and issued a $115.00 price objective on shares of Alphabet in a research note on Wednesday, March 8th. Four equities research 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $132.44.

Alphabet Stock Performance

Shares of GOOGL opened at $101.62 on Friday. The stock’s 50-day simple moving average is $95.08 and its 200 day simple moving average is $96.27. The stock has a market capitalization of $1.30 trillion, a price-to-earnings ratio of 22.33, a price-to-earnings-growth ratio of 1.30 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $143.79.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings results 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). Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The business had revenue of $76.05 billion during the quarter, compared to analysts’ expectations of $63.15 billion. During the same period in the previous year, the business earned $1.53 EPS. Research analysts forecast that Alphabet Inc. will post 5.12 EPS for the current fiscal year.

Insider Buying and Selling at Alphabet

In other Alphabet 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 sale, the senior vice president now owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Alphabet 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 sale, the senior vice president now owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ann Mather sold 340 shares of the firm’s stock in a transaction dated Wednesday, January 25th. The shares were sold at an average price of $96.92, for a total value of $32,952.80. Following the transaction, the director now directly owns 11,300 shares in the company, valued at $1,095,196. The disclosure for this sale can be found here. Insiders have sold a total of 74,245 shares of company stock valued at $7,174,078 in the last 90 days. Corporate insiders own 11.44% of the company’s stock.

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.