Alphabet Inc. $GOOGL Stock Position Decreased by Maj Invest Holding A S

Maj Invest Holding A S lessened its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,190,101 shares of the information services provider’s stock after selling 11,151 shares during the quarter. Alphabet comprises 7.3% of Maj Invest Holding A S’s holdings, making the stock its 4th largest position. Maj Invest Holding A S’s holdings in Alphabet were worth $209,730,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Mystic Asset Management Inc. increased its position in shares of Alphabet by 6.7% during the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock worth $4,400,000 after purchasing an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co increased its position in shares of Alphabet by 0.3% during the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock worth $4,187,000 after purchasing an additional 80 shares during the last quarter. Cypress Capital LLC increased its position in shares of Alphabet by 4.1% during the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock worth $2,213,000 after purchasing an additional 563 shares during the last quarter. Bridgeway Capital Management LLC increased its position in shares of Alphabet by 17.9% during the 1st quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock worth $13,637,000 after purchasing an additional 13,371 shares during the last quarter. Finally, Alaethes Wealth LLC increased its position in shares of Alphabet by 1.1% during the 1st quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after purchasing an additional 84 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GOOGL. CICC Research raised their price objective on Alphabet from $240.00 to $303.00 and gave the stock an “outperform” rating in a research report on Friday. UBS Group restated a “neutral” rating and set a $306.00 target price (up from $255.00) on shares of Alphabet in a report on Thursday. Roth Capital raised their target price on Alphabet from $210.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, October 16th. Canaccord Genuity Group raised their target price on Alphabet from $270.00 to $330.00 and gave the company a “buy” rating in a report on Thursday. Finally, BMO Capital Markets set a $294.00 target price on Alphabet and gave the company an “outperform” rating in a report on Thursday, October 9th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $301.98.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.15, for a total transaction of $8,129,875.00. Following the sale, the chief executive officer owned 2,369,619 shares of the company’s stock, valued at approximately $592,760,192.85. This trade represents a 1.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 17,816 shares of the firm’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $247.42, for a total value of $4,408,034.72. Following the sale, the insider directly owned 42,985 shares in the company, valued at $10,635,348.70. This trade represents a 29.30% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 246,150 shares of company stock worth $55,805,379. 11.64% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

Shares of GOOGL opened at $281.31 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $291.59. The stock has a market capitalization of $3.40 trillion, a PE ratio of 27.74, a PEG ratio of 1.86 and a beta of 1.00. The stock has a 50-day simple moving average of $244.00 and a 200-day simple moving average of $199.68.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.58. Alphabet had a return on equity of 36.08% and a net margin of 32.23%.The business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. On average, analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal 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.