Boston Common Asset Management LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 24.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,211 shares of the information services provider’s stock after selling 4,933 shares during the period. Boston Common Asset Management LLC’s holdings in Alphabet were worth $2,125,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also modified their holdings of GOOGL. Vanguard Group Inc. raised its holdings in Alphabet by 1,919.4% in the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock valued at $45,628,484,000 after buying an additional 453,413,389 shares during the period. State Street Corp raised its holdings in Alphabet by 1,900.6% in 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 during the period. Moneta Group Investment Advisors LLC raised its holdings in Alphabet by 111,197.8% in 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 during the period. Price T Rowe Associates Inc. MD raised its holdings in Alphabet by 1,759.2% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock valued at $11,106,502,000 after buying an additional 109,870,525 shares during the period. Finally, Norges Bank purchased a new stake in Alphabet in the 4th quarter valued at about $8,335,063,000. Hedge funds and other institutional investors own 35.08% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have weighed in on GOOGL. StockNews.com raised Alphabet from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 20th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $155.00 target price on shares of Alphabet in a research report on Wednesday, January 31st. Mizuho lifted their target price on Alphabet from $155.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $160.00 target price on shares of Alphabet in a research report on Wednesday, January 31st. Finally, Wolfe Research lifted their target price on Alphabet from $170.00 to $180.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $154.58.
View Our Latest Research Report on Alphabet
Alphabet Price Performance
Alphabet stock opened at $141.18 on Monday. Alphabet Inc. has a one year low of $95.50 and a one year high of $153.78. The company has a market cap of $1.76 trillion, a P/E ratio of 24.34, a price-to-earnings-growth ratio of 1.29 and a beta of 1.04. The business has a fifty day moving average of $142.32 and a two-hundred day moving average of $137.37. 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 – Get Free Report) last announced its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. During the same quarter last year, the business posted $1.05 earnings per share. As a group, analysts predict that Alphabet Inc. will post 6.77 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the sale, the chief financial officer now owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Alphabet news, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the sale, the chief financial officer now owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the transaction, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 279,159 shares of company stock worth $39,220,185. 0.88% of the stock is owned by corporate insiders.
Alphabet Company 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.
Further Reading
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