Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 6.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 4,392,657 shares of the information services provider’s stock after selling 287,117 shares during the period. Alphabet makes up approximately 1.6% of Chevy Chase Trust Holdings LLC’s holdings, making the stock its 6th largest position. Chevy Chase Trust Holdings LLC’s holdings in Alphabet were worth $387,564,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in GOOGL. Vanguard Group Inc. lifted its position in shares of Alphabet by 1,919.4% during 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 purchasing an additional 453,413,389 shares during the last quarter. State Street Corp increased its stake in 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 valued at $20,770,809,000 after acquiring an additional 206,300,042 shares during the period. Price T Rowe Associates Inc. MD increased its stake 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 valued at $11,106,502,000 after acquiring an additional 109,870,525 shares during the period. Massachusetts Financial Services Co. MA increased its stake 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 valued at $5,847,474,000 after acquiring an additional 58,159,150 shares during the period. Finally, Bank of New York Mellon Corp increased its stake 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 valued at $5,553,529,000 after acquiring an additional 55,153,448 shares during the period. Institutional investors and hedge funds own 34.06% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of several research reports. Rosenblatt Securities lowered their price target on Alphabet from $130.00 to $128.00 and set a “buy” rating on the stock in a research note on Friday, February 3rd. Wolfe Research upped their price objective on Alphabet from $120.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. Loop Capital downgraded Alphabet from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. in a report on Monday, May 15th. UBS Group boosted their target price on Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a report on Thursday, April 6th. Finally, Barclays boosted their target price on Alphabet from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. 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.com, the company has an average rating of “Moderate Buy” and a consensus target price of $130.06.

Insider Transactions at Alphabet

In other news, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $12.72, for a total transaction of $347,128.80. Following the transaction, the insider now directly owns 10,958,925 shares of the company’s stock, valued at $139,397,526. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Ann Mather sold 380 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $90.05, for a total transaction of $34,219.00. Following the transaction, the director now directly owns 11,300 shares of the company’s stock, valued at $1,017,565. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of Alphabet stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $12.72, for a total transaction of $347,128.80. Following the completion of the transaction, the insider now directly owns 10,958,925 shares in the company, valued at $139,397,526. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 732,217 shares of company stock valued at $21,135,371 and have sold 601,450 shares valued at $28,354,856. Insiders own 0.88% of the company’s stock.

Alphabet Trading Down 0.1 %

Shares of GOOGL stock opened at $122.76 on Monday. The firm has a 50 day moving average price of $106.43 and a two-hundred day moving average price of $98.26. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $1.56 trillion, a PE ratio of 27.34, a price-to-earnings-growth ratio of 1.56 and a beta of 1.10. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $125.97.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.11. The firm had revenue of $69.79 billion during the quarter, compared to the consensus estimate of $57.19 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. During the same period last year, the business posted $1.23 earnings per share. As a group, analysts predict that Alphabet Inc. will post 5.41 earnings per share for the current year.

About Alphabet

(Get Rating)

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.