Encompass Wealth Advisors LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 22.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,773 shares of the information services provider’s stock after selling 1,359 shares during the quarter. Encompass Wealth Advisors LLC’s holdings in Alphabet were worth $496,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the business. Moneta Group Investment Advisors LLC increased its holdings in Alphabet by 61,587.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock valued at $11,539,004,000 after buying an additional 129,835,437 shares during the period. Geode Capital Management LLC boosted its stake in Alphabet by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 97,481,034 shares of the information services provider’s stock valued at $8,631,760,000 after acquiring an additional 988,569 shares in the last quarter. Morgan Stanley boosted its stake in Alphabet by 37.6% in the fourth quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock valued at $6,368,961,000 after acquiring an additional 19,612,974 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Alphabet by 1,807.4% in the third quarter. Bank of New York Mellon Corp now owns 57,069,444 shares of the information services provider’s stock valued at $5,487,226,000 after acquiring an additional 54,077,519 shares in the last quarter. Finally, Norges Bank acquired a new stake in Alphabet in the fourth quarter valued at approximately $3,059,614,000. 27.17% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Alphabet
In other news, SVP Prabhakar Raghavan sold 16,083 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the completion of the sale, the senior vice president now owns 127,028 shares of the company’s stock, valued at $15,282,738.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Prabhakar Raghavan sold 16,083 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the completion of the sale, the senior vice president now owns 127,028 shares of the company’s stock, valued at $15,282,738.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,397 shares of the business’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $14.03, for a total transaction of $1,226,179.91. Following the sale, the insider now directly owns 11,012,841 shares of the company’s stock, valued at approximately $154,510,159.23. The disclosure for this sale can be found here. Over the last quarter, insiders sold 826,435 shares of company stock valued at $25,801,000. Corporate insiders own 12.99% of the company’s stock.
Analysts Set New Price Targets
GOOG has been the subject of several recent analyst reports. Robert W. Baird raised their target price on shares of Alphabet from $123.00 to $140.00 in a research note on Wednesday, July 26th. Susquehanna lifted their price objective on shares of Alphabet from $120.00 to $150.00 in a research note on Wednesday, July 26th. Oppenheimer lifted their price objective on shares of Alphabet from $145.00 to $160.00 in a research note on Wednesday, July 26th. UBS Group lifted their price objective on shares of Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Alphabet from $120.00 to $125.00 in a research note on Wednesday, April 26th. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $132.00.
Get Our Latest Report on Alphabet
Alphabet Stock Up 0.1 %
GOOG opened at $128.77 on Friday. Alphabet Inc. has a fifty-two week low of $83.45 and a fifty-two week high of $134.07. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.14 and a current ratio of 2.17. The company has a fifty day moving average of $123.83 and a two-hundred day moving average of $110.29. The stock has a market capitalization of $1.63 trillion, a price-to-earnings ratio of 27.28, a PEG ratio of 1.49 and a beta of 1.06.
Alphabet (NASDAQ:GOOG – Get Free Report) last released its quarterly earnings data on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.12. Alphabet had a net margin of 21.05% and a return on equity of 23.49%. The company had revenue of $74.60 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter in the previous year, the company earned $1.21 earnings per share. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, research analysts expect that Alphabet Inc. will post 5.64 earnings per share for the current year.
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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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