Harvest Fund Management Co. Ltd raised its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 26.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 111,869 shares of the information services provider’s stock after purchasing an additional 23,386 shares during the quarter. Alphabet accounts for about 2.6% of Harvest Fund Management Co. Ltd’s holdings, making the stock its 9th biggest position. Harvest Fund Management Co. Ltd’s holdings in Alphabet were worth $11,596,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of 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 valued at $45,628,484,000 after purchasing an additional 453,413,389 shares in the last quarter. State Street Corp grew its position 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 worth $20,770,809,000 after buying an additional 206,300,042 shares during the period. Moneta Group Investment Advisors LLC increased its holdings in Alphabet by 111,197.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock valued at $15,036,178,000 after buying an additional 170,267,122 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Alphabet by 1,759.2% during the 3rd 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. Finally, Norges Bank purchased a new stake in shares of Alphabet during the 4th quarter worth approximately $8,335,063,000. Institutional investors and hedge funds own 35.08% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on GOOGL shares. Loop Capital raised their price objective on Alphabet from $125.00 to $140.00 and gave the company a “hold” rating in a research note on Friday, August 18th. Credit Suisse Group raised their price target on Alphabet from $135.00 to $150.00 and gave the company an “outperform” rating in a research report on Monday, July 17th. The Goldman Sachs Group boosted their price objective on shares of Alphabet from $132.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, July 17th. Robert W. Baird raised their target price on shares of Alphabet from $123.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, July 21st. Finally, TD Cowen upped their price target on shares of Alphabet from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, July 13th. Four research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $143.08.
Alphabet Stock Performance
Alphabet stock opened at $134.57 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.14 and a current ratio of 2.17. Alphabet Inc. has a one year low of $83.34 and a one year high of $136.57. The stock’s 50 day moving average price is $125.47 and its 200 day moving average price is $113.90. The firm has a market capitalization of $1.70 trillion, a PE ratio of 28.51, a price-to-earnings-growth ratio of 1.50 and a beta of 1.06.
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.12. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The business had revenue of $74.60 billion during the quarter, compared to the consensus estimate of $60.24 billion. During the same period in the prior year, the firm earned $1.21 earnings per share. As a group, sell-side analysts expect that Alphabet Inc. will post 5.68 EPS for the current fiscal year.
Insider Activity at Alphabet
In other news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total transaction of $25,130.00. Following the completion of the transaction, the director now directly owns 5,740 shares of the company’s stock, valued at $721,231. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Ann Mather sold 9,540 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $125.33, for a total transaction of $1,195,648.20. Following the completion of the transaction, the director now directly owns 2,800 shares in the company, valued at $350,924. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total value of $25,130.00. Following the completion of the sale, the director now owns 5,740 shares in the company, valued at $721,231. The disclosure for this sale can be found here. Insiders sold a total of 163,353 shares of company stock valued at $8,576,028 over the last three months. 0.88% of the stock is owned by insiders.
Alphabet Company Profile
Alphabet Inc offers 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 provides products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
- Five stocks we like better than Alphabet
- The How and Why of Investing in Gold Stocks
- 3 Inexpensive Mid Cap Tech Stocks With Good Growth Prospects
- What is a Mid Cap Stock? How to Invest
- 3 Reasons the Dick’s Sporting Goods Selloff Is a Steal
- How to Invest in the Healthcare Sector
- Foot Locker Stock Takes a Big Hit…Is It a Retail Bargain?
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.