Alphabet Inc. (NASDAQ:GOOGL) Stock Position Raised by Wrapmanager Inc.

Wrapmanager Inc. boosted its position in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 17.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,273 shares of the information services provider’s stock after buying an additional 1,345 shares during the quarter. Wrapmanager Inc.’s holdings in Alphabet were worth $1,213,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Alphabet by 1,919.4% during the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after purchasing an additional 453,413,389 shares during the period. State Street Corp increased its holdings in shares of Alphabet by 1,900.6% during the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after purchasing an additional 206,300,042 shares during the period. Moneta Group Investment Advisors LLC increased its holdings in shares of Alphabet by 111,197.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock worth $15,036,178,000 after purchasing an additional 170,267,122 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Alphabet by 1,759.2% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock worth $11,106,502,000 after purchasing an additional 109,870,525 shares during the period. Finally, Norges Bank bought a new position in shares of Alphabet during the 4th quarter worth about $8,335,063,000. 35.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and set a $155.00 price objective on shares of Alphabet in a report on Wednesday, January 31st. Mizuho lifted their target price on shares of Alphabet from $155.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Monness Crespi & Hardt lowered shares of Alphabet from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 25th. Tigress Financial lifted their target price on shares of Alphabet from $172.00 to $176.00 and gave the company a “strong-buy” rating in a research report on Tuesday, November 21st. Finally, Wells Fargo & Company lifted their target price on shares of Alphabet from $126.00 to $129.00 and gave the company an “equal weight” rating in a research report on Thursday, November 16th. Five investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $153.65.

View Our Latest Report on GOOGL

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $132.92, for a total value of $26,584.00. Following the completion of the sale, the director now owns 7,184 shares of the company’s stock, valued at $954,897.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Amie Thuener O’toole sold 420 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $133.32, for a total value of $55,994.40. Following the completion of the transaction, the chief accounting officer now owns 26,833 shares in the company, valued at $3,577,375.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $132.92, for a total transaction of $26,584.00. Following the completion of the transaction, the director now owns 7,184 shares of the company’s stock, valued at approximately $954,897.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 114,674 shares of company stock valued at $16,162,276. Corporate insiders own 0.88% of the company’s stock.

Alphabet Trading Up 0.3 %

GOOGL opened at $144.10 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The company has a market cap of $1.80 trillion, a price-to-earnings ratio of 24.84, a price-to-earnings-growth ratio of 1.33 and a beta of 1.06. The firm has a 50 day simple moving average of $139.90 and a 200 day simple moving average of $135.29. Alphabet Inc. has a fifty-two week low of $88.57 and a fifty-two week high of $153.78.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. During the same quarter in the prior year, the firm earned $1.05 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 6.76 earnings per share for the current year.

Alphabet Company Profile

(Free Report)

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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