Alphabet Inc. (NASDAQ:GOOGL) is Allspring Global Investments Holdings LLC’s 4th Largest Position

Allspring Global Investments Holdings LLC decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 6.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,544,386 shares of the information services provider’s stock after selling 302,263 shares during the period. Alphabet comprises 1.1% of Allspring Global Investments Holdings LLC’s investment portfolio, making the stock its 4th biggest position. Allspring Global Investments Holdings LLC’s holdings in Alphabet were worth $634,805,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bornite Capital Management LP acquired a new stake in shares of Alphabet in the first quarter valued at about $16,688,000. Markel Corp grew its position in shares of Alphabet by 17.0% in the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after purchasing an additional 2,250 shares during the period. United Bank grew its position in shares of Alphabet by 5.9% in the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after purchasing an additional 113 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Alphabet by 23.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after purchasing an additional 61,427 shares during the period. Finally, Dakota Wealth Management grew its position in shares of Alphabet by 20.4% in the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after purchasing an additional 1,570 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $142.14, for a total transaction of $3,198,150.00. Following the sale, the chief executive officer now directly owns 2,400,191 shares of the company’s stock, valued at approximately $341,163,148.74. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $142.14, for a total transaction of $3,198,150.00. Following the sale, the chief executive officer now directly owns 2,400,191 shares of the company’s stock, valued at approximately $341,163,148.74. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the sale, the chief accounting officer now directly owns 27,920 shares in the company, valued at $4,009,032.80. The disclosure for this sale can be found here. Insiders have sold a total of 251,339 shares of company stock valued at $36,033,907 in the last ninety days. Company insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on GOOGL shares. Roth Mkm dropped their target price on shares of Alphabet from $166.00 to $164.00 and set a “buy” rating on the stock in a research report on Wednesday, January 31st. BMO Capital Markets restated an “outperform” rating and set a $185.00 price target (up from $178.00) on shares of Alphabet in a research report on Wednesday, April 10th. Rosenblatt Securities lowered their price target on shares of Alphabet from $174.00 to $172.00 and set a “buy” rating on the stock in a research report on Wednesday, January 31st. KeyCorp boosted their price target on shares of Alphabet from $153.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, January 29th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $155.00 price target on shares of Alphabet in a research report on Wednesday, January 31st. 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.61.

Alphabet Price Performance

Alphabet stock opened at $154.86 on Tuesday. The company’s 50 day simple moving average is $145.55 and its 200-day simple moving average is $140.02. The company has a market capitalization of $1.93 trillion, a price-to-earnings ratio of 26.70, a price-to-earnings-growth ratio of 1.46 and a beta of 1.05. Alphabet Inc. has a 1 year low of $102.63 and a 1 year high of $160.22. 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 (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The business had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $70.77 billion. During the same period in the previous year, the firm earned $1.05 EPS. As a group, equities research analysts expect that Alphabet Inc. will post 6.78 earnings per share for the current year.

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.