Alphabet Inc. (NASDAQ:GOOGL) is Assenagon Asset Management S.A.’s 3rd Largest Position

Assenagon Asset Management S.A. lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 30.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,921,430 shares of the information services provider’s stock after buying an additional 2,301,426 shares during the quarter. Alphabet accounts for 3.7% of Assenagon Asset Management S.A.’s portfolio, making the stock its 3rd biggest holding. Assenagon Asset Management S.A. owned 0.08% of Alphabet worth $1,385,925,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. DC Investments Management LLC acquired a new stake in shares of Alphabet during the 1st quarter valued at approximately $114,000. Bridgefront Capital LLC purchased a new position in Alphabet in the 1st quarter valued at approximately $225,000. Worth Asset Management LLC purchased a new position in Alphabet in the 1st quarter valued at approximately $206,000. Eudaimonia Advisors LLC raised its holdings in Alphabet by 15.1% during the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after purchasing an additional 13 shares during the last quarter. Finally, Aspire Capital Advisors LLC purchased a new stake in Alphabet during the first quarter worth $281,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $160.00 price target on shares of Alphabet in a research note on Wednesday, January 31st. Wells Fargo & Company lifted their target price on shares of Alphabet from $141.00 to $144.00 and gave the stock an “equal weight” rating in a research report on Monday, March 18th. Wedbush increased their price target on shares of Alphabet from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Rosenblatt Securities cut their price objective on Alphabet from $174.00 to $172.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. Finally, Truist Financial lowered their target price on Alphabet from $160.00 to $158.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $155.48.

Insider Activity

In related news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction on 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 sale, the director now owns 15,104 shares in the company, valued at $2,326,922.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Frances Arnold sold 230 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the transaction, the director now owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 425 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $139.61, for a total value of $59,334.25. Following the transaction, the chief accounting officer now directly owns 27,259 shares in the company, valued at approximately $3,805,628.99. The disclosure for this sale can be found here. In the last three months, insiders sold 251,378 shares of company stock worth $35,461,377. 0.88% of the stock is currently owned by insiders.

Alphabet Stock Up 0.1 %

Shares of Alphabet stock opened at $150.87 on Thursday. Alphabet Inc. has a 1-year low of $99.74 and a 1-year high of $153.78. The company has a market capitalization of $1.88 trillion, a PE ratio of 26.01, a P/E/G ratio of 1.39 and a beta of 1.04. 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 business has a 50-day moving average of $143.33 and a 200-day moving average of $138.03.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS 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 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 business posted $1.05 earnings per share. As a group, equities analysts forecast that Alphabet Inc. will post 6.77 EPS for the current fiscal year.

Alphabet 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.