Mercer Global Advisors Inc. ADV lifted its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 9.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,225 shares of the information services provider’s stock after acquiring an additional 2,607 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Alphabet were worth $86,848,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also modified their holdings of the stock. State Street Corp lifted its stake in Alphabet by 1.4% in the fourth quarter. State Street Corp now owns 11,252,792 shares of the information services provider’s stock valued at $32,599,789,000 after acquiring an additional 157,280 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Alphabet by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 5,322,633 shares of the information services provider’s stock worth $15,381,257,000 after purchasing an additional 116,084 shares during the last quarter. Norges Bank bought a new position in shares of Alphabet during the 4th quarter valued at $14,477,662,000. Massachusetts Financial Services Co. MA lifted its stake in shares of Alphabet by 0.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,825,959 shares of the information services provider’s stock valued at $8,186,916,000 after purchasing an additional 20,120 shares during the last quarter. Finally, Invesco Ltd. increased its position in Alphabet by 14.1% during the fourth quarter. Invesco Ltd. now owns 2,292,059 shares of the information services provider’s stock worth $6,640,190,000 after buying an additional 283,907 shares during the last quarter. 41.70% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Alphabet
In other news, insider John Kent Walker sold 34,799 shares of the stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $118.25, for a total transaction of $4,114,981.75. Following the sale, the insider now directly owns 18,484 shares of the company’s stock, valued at $2,185,733. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Amie Thuener O’toole sold 42 shares of Alphabet stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $2,298.63, for a total value of $96,542.46. Following the completion of the sale, the chief accounting officer now directly owns 1,181 shares in the company, valued at $2,714,682.03. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John Kent Walker sold 34,799 shares of the company’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $118.25, for a total transaction of $4,114,981.75. Following the transaction, the insider now owns 18,484 shares in the company, valued at $2,185,733. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,831 shares of company stock worth $15,706,796. 11.44% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
A number of analysts have weighed in on GOOGL shares. Stifel Nicolaus set a $155.00 price target on Alphabet in a research report on Monday, July 18th. Morgan Stanley upped their target price on Alphabet from $140.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 27th. JPMorgan Chase & Co. dropped their price target on shares of Alphabet from $160.00 to $140.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 29th. Barclays decreased their price objective on shares of Alphabet from $160.00 to $150.00 and set an “overweight” rating for the company in a report on Tuesday, July 5th. Finally, BMO Capital Markets lowered their target price on shares of Alphabet from $165.00 to $150.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 27th. Five research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $147.36.
Alphabet Stock Down 0.3 %
NASDAQ GOOGL opened at $113.86 on Wednesday. The stock’s 50 day simple moving average is $156.48 and its 200 day simple moving average is $136.60. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 2.78. Alphabet Inc. has a one year low of $101.88 and a one year high of $151.55. The firm has a market cap of $1.50 trillion, a PE ratio of 21.18, a price-to-earnings-growth ratio of 1.90 and a beta of 1.08.
Alphabet (NASDAQ:GOOGL – Get Rating) last announced its earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). Alphabet had a net margin of 25.89% and a return on equity of 28.65%. The business had revenue of $57.47 billion during the quarter, compared to analyst estimates of $57.55 billion. During the same quarter last year, the business posted $27.26 earnings per share. As a group, sell-side analysts forecast that Alphabet Inc. will post 5.2 earnings per share for the current fiscal year.
Alphabet Company Profile
Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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