Alphabet Inc. (NASDAQ:GOOGL) is Alphinity Investment Management Pty Ltd’s Largest Position

Alphinity Investment Management Pty Ltd increased its position in Alphabet Inc. (NASDAQ:GOOGL) by 33.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,767,410 shares of the information services provider’s stock after acquiring an additional 1,437,084 shares during the quarter. Alphabet comprises 8.2% of Alphinity Investment Management Pty Ltd’s investment portfolio, making the stock its largest holding. Alphinity Investment Management Pty Ltd’s holdings in Alphabet were worth $805,650,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Alphabet by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 487,435,495 shares of the information services provider’s stock valued at $63,785,809,000 after buying an additional 1,302,104 shares in the last quarter. FMR LLC grew its holdings in Alphabet by 5.6% during the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after buying an additional 12,070,681 shares in the last quarter. State Street Corp grew its holdings in Alphabet by 1,900.6% during the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after buying an additional 206,300,042 shares in the last quarter. Moneta Group Investment Advisors LLC grew its holdings in Alphabet by 111,197.8% during the 4th 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. Finally, Geode Capital Management LLC grew its holdings in Alphabet by 1.3% during the 1st quarter. Geode Capital Management LLC now owns 118,576,618 shares of the information services provider’s stock valued at $12,271,705,000 after buying an additional 1,499,107 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

GOOGL opened at $157.73 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. Alphabet Inc. has a 52-week low of $102.63 and a 52-week high of $160.22. The stock has a market capitalization of $1.96 trillion, a PE ratio of 27.19, a price-to-earnings-growth ratio of 1.47 and a beta of 1.05. The stock’s 50 day moving average price is $145.33 and its 200-day moving average price is $139.80.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The firm had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $70.77 billion. During the same period in the previous year, the firm earned $1.05 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 6.78 EPS for the current year.

Insider Activity

In other news, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the transaction, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the sale, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the sale, the senior vice president now directly owns 144,685 shares in the company, valued at $22,566,519.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 250,539 shares of company stock valued at $35,906,259. Company insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of research analyst reports. Barclays dropped their price target on Alphabet from $180.00 to $173.00 and set an “overweight” rating for the company in a research report on Wednesday, January 31st. Needham & Company LLC reiterated a “buy” rating and set a $160.00 price target on shares of Alphabet in a research report on Wednesday, January 31st. Wolfe Research lifted their price target on Alphabet from $170.00 to $180.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Rosenblatt Securities dropped their price target on Alphabet from $174.00 to $172.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. Finally, Wells Fargo & Company dropped their price target on Alphabet from $144.00 to $141.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 3rd. Five investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $155.61.

Alphabet 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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.