Alphabet Inc. (NASDAQ:GOOGL) is Ninety One SA PTY Ltd’s 7th Largest Position

Ninety One SA PTY Ltd increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 19.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 145,462 shares of the information services provider’s stock after buying an additional 23,289 shares during the period. Alphabet comprises about 3.1% of Ninety One SA PTY Ltd’s holdings, making the stock its 7th biggest position. Ninety One SA PTY Ltd’s holdings in Alphabet were worth $20,320,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in GOOGL. FMR LLC boosted its position in Alphabet by 5.6% during the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after purchasing an additional 12,070,681 shares during the period. International Assets Investment Management LLC boosted its position in Alphabet by 4,894.1% during the fourth quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock worth $7,606,670,000 after purchasing an additional 5,336,359 shares during the period. J.P. Morgan Private Wealth Advisors LLC bought a new position in Alphabet during the third quarter worth about $634,465,000. Ontario Teachers Pension Plan Board bought a new position in Alphabet during the third quarter worth about $601,545,000. Finally, Lone Pine Capital LLC bought a new position in Alphabet during the third quarter worth about $407,367,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 10.2 %

GOOGL stock opened at $171.95 on Friday. The company has a market capitalization of $2.14 trillion, a PE ratio of 29.65, a price-to-earnings-growth ratio of 1.47 and a beta of 1.05. Alphabet Inc. has a one year low of $103.54 and a one year high of $174.71. The company’s 50 day moving average price is $147.85 and its two-hundred day moving average price is $141.39. 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 (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. The firm had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $70.77 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. During the same period last year, the firm posted $1.05 earnings per share. As a group, analysts predict that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total value of $2,985,750.00. Following the transaction, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Alphabet news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction on 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 directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the transaction, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The disclosure for this sale can be found here. Insiders have sold a total of 253,439 shares of company stock valued at $36,746,578 over the last three months. 0.88% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of research reports. Raymond James increased their target price on shares of Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday. UBS Group raised their price objective on shares of Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Wedbush raised their price objective on shares of Alphabet from $175.00 to $205.00 and gave the company an “outperform” rating in a research report on Friday. Royal Bank of Canada raised their price objective on shares of Alphabet from $155.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Jefferies Financial Group raised their price objective on shares of Alphabet from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Friday. Five research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $187.82.

Alphabet Company 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.