Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Clark Capital Management Group Inc.

Clark Capital Management Group Inc. boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 4.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,709 shares of the information services provider’s stock after buying an additional 961 shares during the period. Alphabet accounts for 0.8% of Clark Capital Management Group Inc.’s investment portfolio, making the stock its 25th largest position. Clark Capital Management Group Inc.’s holdings in Alphabet were worth $68,723,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of Alphabet in the 4th quarter valued at $14,477,662,000. Aaron Wealth Advisors LLC raised its holdings in shares of Alphabet by 699,790.2% in the 1st quarter. Aaron Wealth Advisors LLC now owns 4,703,262 shares of the information services provider’s stock valued at $1,691,000 after buying an additional 4,702,590 shares during the period. Verity Asset Management Inc. raised its holdings in shares of Alphabet by 536,206.4% in the 1st quarter. Verity Asset Management Inc. now owns 589,937 shares of the information services provider’s stock valued at $39,000 after buying an additional 589,827 shares during the period. Fundsmith LLP purchased a new stake in shares of Alphabet in the 4th quarter valued at $1,214,138,000. Finally, Vanguard Group Inc. raised its holdings in shares of Alphabet by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 23,304,411 shares of the information services provider’s stock valued at $64,817,723,000 after buying an additional 331,945 shares during the period. Institutional investors and hedge funds own 1.88% of the company’s stock.

Insider Activity at Alphabet

In related news, SVP Prabhakar Raghavan sold 1,109 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total value of $2,402,914.66. Following the completion of the transaction, the senior vice president now directly owns 1,608 shares of the company’s stock, valued at approximately $3,484,117.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 1,109 shares of the firm’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total transaction of $2,402,914.66. Following the completion of the transaction, the senior vice president now owns 1,608 shares of the company’s stock, valued at $3,484,117.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 42 shares of the firm’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total value of $91,003.08. Following the transaction, the chief accounting officer now directly owns 1,192 shares of the company’s stock, valued at approximately $2,582,754.08. The disclosure for this sale can be found here. Insiders sold 43,036 shares of company stock valued at $15,564,998 in the last ninety days. Corporate insiders own 11.44% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $110.65 on Friday. The company has a market cap of $1.44 trillion, a price-to-earnings ratio of 20.59, a price-to-earnings-growth ratio of 1.77 and a beta of 1.09. The stock has a 50 day simple moving average of $113.69 and a 200-day simple moving average of $119.73. Alphabet Inc. has a 12-month low of $101.88 and a 12-month high of $151.55. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGLGet Rating) last issued its earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). The business had revenue of $57.47 billion for the quarter, compared to analysts’ expectations of $57.55 billion. Alphabet had a return on equity of 28.65% and a net margin of 25.89%. During the same period last year, the company posted $27.26 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post 5.2 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GOOGL shares. Wells Fargo & Company cut their price objective on Alphabet from $170.00 to $160.00 and set an “overweight” rating on the stock in a report on Wednesday, July 27th. Credit Suisse Group cut their price objective on Alphabet from $143.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, July 27th. Evercore ISI cut their price target on Alphabet from $155.50 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, July 27th. Itau BBA Securities assumed coverage on Alphabet in a report on Tuesday, July 26th. They set a “market perform” rating and a $113.00 price target on the stock. Finally, Susquehanna cut their price target on Alphabet from $187.50 to $150.00 and set a “positive” rating on the stock in a report on Wednesday, July 27th. Five analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $147.41.

About Alphabet

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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.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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