Alphabet Inc. (NASDAQ:GOOGL) is Ilmarinen Mutual Pension Insurance Co’s 6th Largest Position

Ilmarinen Mutual Pension Insurance Co raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,145,000 shares of the information services provider’s stock after buying an additional 70,000 shares during the quarter. Alphabet comprises about 1.6% of Ilmarinen Mutual Pension Insurance Co’s investment portfolio, making the stock its 6th largest holding. Ilmarinen Mutual Pension Insurance Co’s holdings in Alphabet were worth $118,771,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of GOOGL. Spreng Capital Management Inc. raised its holdings in shares of Alphabet by 4.0% in the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock worth $364,000 after purchasing an additional 5 shares during the period. West Family Investments Inc. raised its holdings in shares of Alphabet by 0.3% in the 1st quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock worth $4,878,000 after purchasing an additional 6 shares during the period. Maple Capital Management Inc. raised its holdings in shares of Alphabet by 2.1% in the 1st quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock worth $823,000 after purchasing an additional 6 shares during the period. Private Advisory Group LLC raised its holdings in shares of Alphabet by 1.8% in the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock worth $1,115,000 after purchasing an additional 7 shares during the period. Finally, Weik Capital Management raised its holdings in shares of Alphabet by 0.5% in the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock worth $4,264,000 after purchasing an additional 8 shares during the period. 35.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of Alphabet stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $15.06, for a total transaction of $563,319.30. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of Alphabet stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $15.06, for a total transaction of $563,319.30. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 3,749 shares of Alphabet stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $136.28, for a total value of $510,913.72. Following the sale, the chief accounting officer now directly owns 25,568 shares in the company, valued at approximately $3,484,407.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 140,029 shares of company stock valued at $12,883,371. Insiders own 0.88% of the company’s stock.

Alphabet Trading Down 1.2 %

Shares of NASDAQ GOOGL opened at $135.34 on Wednesday. The company has a market cap of $1.71 trillion, a price-to-earnings ratio of 28.67, a price-to-earnings-growth ratio of 1.56 and a beta of 1.06. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $138.00. The company has a current ratio of 2.17, a quick ratio of 2.14 and a debt-to-equity ratio of 0.05. The stock’s 50 day simple moving average is $128.59 and its 200 day simple moving average is $116.88.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.12. The business had revenue of $74.60 billion for the quarter, compared to the consensus estimate of $60.24 billion. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. During the same quarter last year, the business posted $1.21 EPS. Equities research analysts expect that Alphabet Inc. will post 5.68 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Wedbush assumed coverage on Alphabet in a report on Monday, August 21st. They issued an “outperform” rating and a $160.00 price objective on the stock. Piper Sandler raised their price objective on Alphabet from $140.00 to $148.00 in a report on Wednesday, July 26th. Credit Suisse Group raised their price objective on Alphabet from $135.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, July 17th. Sanford C. Bernstein increased their target price on Alphabet from $130.00 to $135.00 in a research note on Wednesday, July 26th. Finally, UBS Group lowered Alphabet from a “buy” rating to a “neutral” rating and increased their target price for the company from $123.00 to $132.00 in a research note on Monday, June 26th. Four research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $143.89.

About Alphabet

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.