ICICI Prudential Asset Management Co Ltd Sells 2,378 Shares of Alphabet Inc. (NASDAQ:GOOGL)

ICICI Prudential Asset Management Co Ltd cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 9.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,238 shares of the information services provider’s stock after selling 2,378 shares during the quarter. ICICI Prudential Asset Management Co Ltd’s holdings in Alphabet were worth $3,106,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in GOOGL. Vanguard Group Inc. grew 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 valued at $45,628,484,000 after purchasing an additional 453,413,389 shares during the last quarter. State Street Corp grew its holdings in 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 acquiring an additional 206,300,042 shares during the last quarter. Moneta Group Investment Advisors LLC grew its holdings in 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 acquiring an additional 170,267,122 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in 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 acquiring an additional 109,870,525 shares during the last quarter. Finally, Norges Bank bought a new stake in Alphabet during the 4th quarter worth approximately $8,335,063,000. 40.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Barclays reduced their target price on shares of Alphabet from $180.00 to $173.00 and set an “overweight” rating on the stock in a report on Wednesday, January 31st. Roth Mkm reduced their target price on shares of Alphabet from $166.00 to $164.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. Mizuho boosted their target price on shares of Alphabet from $155.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Wells Fargo & Company reduced their target price on shares of Alphabet from $144.00 to $141.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, Needham & Company LLC restated a “buy” rating and issued a $160.00 price target on shares of Alphabet 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $155.39.

Check Out Our Latest Stock Report on Alphabet

Alphabet Price Performance

GOOGL opened at $154.92 on Thursday. The firm has a market cap of $1.93 trillion, a P/E ratio of 26.71, a PEG ratio of 1.44 and a beta of 1.05. The firm has a 50-day moving average of $144.22 and a 200 day moving average of $138.70. 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 Inc. has a fifty-two week low of $102.63 and a fifty-two week high of $155.74.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $86.31 billion during the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. During the same quarter in the prior year, the business earned $1.05 earnings per share. On average, research analysts expect that Alphabet Inc. will post 6.77 EPS for the current year.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at $4,532,870.36. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at $4,532,870.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $142.14, for a total transaction of $3,198,150.00. Following the completion of the transaction, the chief executive officer now owns 2,400,191 shares of the company’s stock, valued at approximately $341,163,148.74. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 228,239 shares of company stock worth $32,432,382. 0.88% of the stock is owned by company insiders.

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, devices, 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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