Metropolis Capital Ltd Has $268.27 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Metropolis Capital Ltd raised its stake in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 54.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 123,100 shares of the information services provider’s stock after purchasing an additional 43,651 shares during the period. Alphabet accounts for 14.3% of Metropolis Capital Ltd’s holdings, making the stock its biggest holding. Metropolis Capital Ltd’s holdings in Alphabet were worth $268,267,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Alphabet during the fourth quarter worth about $14,477,662,000. Aaron Wealth Advisors LLC increased its position in shares of Alphabet by 699,790.2% during the first quarter. Aaron Wealth Advisors LLC now owns 4,703,262 shares of the information services provider’s stock worth $1,691,000 after acquiring an additional 4,702,590 shares in the last quarter. Verity Asset Management Inc. increased its position in shares of Alphabet by 536,206.4% during the first quarter. Verity Asset Management Inc. now owns 589,937 shares of the information services provider’s stock worth $39,000 after acquiring an additional 589,827 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Alphabet by 1.4% during the first quarter. Vanguard Group Inc. now owns 23,304,411 shares of the information services provider’s stock worth $64,817,723,000 after acquiring an additional 331,945 shares in the last quarter. Finally, BlueSpruce Investments LP bought a new stake in shares of Alphabet during the first quarter worth about $639,744,000. 1.88% of the stock is owned by institutional investors.

Insider Transactions at Alphabet

In other news, Director Ann Mather sold 20 shares of the stock in a transaction on Monday, June 27th. The shares were sold at an average price of $2,383.32, for a total value of $47,666.40. Following the transaction, the director now owns 565 shares of the company’s stock, valued at approximately $1,346,575.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $110.00, for a total value of $165,000.00. Following the completion of the sale, the director now owns 33,260 shares of the company’s stock, valued at approximately $3,658,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann Mather sold 20 shares of the company’s stock in a transaction on Monday, June 27th. The shares were sold at an average price of $2,383.32, for a total transaction of $47,666.40. Following the completion of the sale, the director now directly owns 565 shares of the company’s stock, valued at approximately $1,346,575.80. The disclosure for this sale can be found here. Insiders have sold 44,536 shares of company stock valued at $15,729,998 in the last quarter. Insiders own 11.44% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Morgan Stanley boosted their target price on shares of Alphabet from $140.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 27th. Stifel Nicolaus set a $155.00 price target on shares of Alphabet in a report on Monday, July 18th. KeyCorp cut their price target on shares of Alphabet from $153.00 to $125.00 and set an “overweight” rating on the stock in a report on Tuesday, July 26th. Jefferies Financial Group cut their price target on shares of Alphabet from $155.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, July 27th. Finally, BNP Paribas cut shares of Alphabet from an “outperform” rating to a “neutral” rating and set a $118.00 price target on the stock. in a report on Wednesday, July 20th. Five equities research analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $147.41.

Alphabet Stock Performance

Alphabet stock opened at $100.14 on Friday. The firm’s 50 day simple moving average is $111.79 and its 200 day simple moving average is $117.82. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $1.31 trillion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 1.64 and a beta of 1.09. Alphabet Inc. has a 1-year low of $98.79 and a 1-year high of $151.55.

Alphabet (NASDAQ:GOOGLGet Rating) last issued its quarterly earnings results on Tuesday, July 26th. The information services provider reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). The company had revenue of $57.47 billion during the quarter, compared to the consensus estimate of $57.55 billion. Alphabet had a return on equity of 28.65% and a net margin of 25.89%. During the same period in the previous year, the company earned $27.26 EPS. As a group, analysts expect that Alphabet Inc. will post 5.21 earnings per share for the current fiscal year.

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.

Further Reading

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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