Gamble Jones Investment Counsel raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,075 shares of the information services provider’s stock after purchasing an additional 180 shares during the quarter. Alphabet makes up approximately 3.0% of Gamble Jones Investment Counsel’s portfolio, making the stock its 5th largest holding. Gamble Jones Investment Counsel’s holdings in Alphabet were worth $47,492,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the business. State Street Corp lifted its holdings in Alphabet by 1.4% during the fourth quarter. State Street Corp now owns 11,252,792 shares of the information services provider’s stock valued at $32,599,789,000 after purchasing an additional 157,280 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Alphabet by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 5,322,633 shares of the information services provider’s stock valued at $15,381,257,000 after buying an additional 116,084 shares during the period. Norges Bank bought a new stake in shares of Alphabet during the fourth quarter valued at about $14,477,662,000. Massachusetts Financial Services Co. MA increased its position in shares of Alphabet by 0.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,825,959 shares of the information services provider’s stock valued at $8,186,916,000 after buying an additional 20,120 shares during the period. Finally, Invesco Ltd. increased its position in shares of Alphabet by 14.1% during the fourth quarter. Invesco Ltd. now owns 2,292,059 shares of the information services provider’s stock valued at $6,640,190,000 after buying an additional 283,907 shares during the period. 41.70% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on GOOGL. Mizuho decreased their price target on Alphabet from $175.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday, July 22nd. MKM Partners decreased their price target on Alphabet from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, July 18th. Wells Fargo & Company decreased their price target on Alphabet from $170.00 to $160.00 and set an “overweight” rating on the stock in a research report on Wednesday. Jefferies Financial Group decreased their price objective on shares of Alphabet from $155.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Exane BNP Paribas cut shares of Alphabet from an “outperform” rating to a “neutral” rating in a research report on Wednesday, July 20th. Five equities research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $148.80.
Insiders Place Their Bets
In other news, Director Ann Mather sold 300 shares of the firm’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $108.94, for a total transaction of $32,682.00. Following the completion of the transaction, the director now directly owns 11,360 shares in the company, valued at $1,237,558.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder 2021 Gp L.L.C. Gv bought 13,528 shares of the company’s stock in a transaction dated Tuesday, May 24th. The shares were purchased at an average price of $33.72 per share, for a total transaction of $456,164.16. Following the completion of the purchase, the insider now owns 593,402 shares in the company, valued at approximately $20,009,515.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ann Mather sold 300 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $108.94, for a total transaction of $32,682.00. Following the sale, the director now directly owns 11,360 shares of the company’s stock, valued at approximately $1,237,558.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,039 shares of company stock valued at $12,649,005. 11.44% of the stock is currently owned by corporate insiders.
Alphabet Trading Up 1.0 %
NASDAQ:GOOGL opened at $114.22 on Friday. The firm has a market capitalization of $1.50 trillion, a P/E ratio of 20.66, a PEG ratio of 1.12 and a beta of 1.10. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.87 and a quick ratio of 2.85. Alphabet Inc. has a one year low of $101.88 and a one year high of $151.55. The company’s 50-day simple moving average is $154.31 and its 200 day simple moving average is $138.90.
Alphabet (NASDAQ:GOOGL – Get Rating) last released its earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.11). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. During the same quarter in the previous year, the business earned $27.26 EPS. As a group, analysts forecast that Alphabet Inc. will post 5.37 EPS for the current fiscal year.
Alphabet Profile
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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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