Edge Asset Management Inc. raised its position in Alphabet Inc (NASDAQ:GOOG) by 3.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,186 shares of the information services provider’s stock after buying an additional 963 shares during the period. Edge Asset Management Inc.’s holdings in Alphabet were worth $25,614,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Simplex Trading LLC purchased a new stake in Alphabet during the third quarter valued at approximately $10,291,000. Carmignac Gestion raised its stake in Alphabet by 0.9% in the third quarter. Carmignac Gestion now owns 457,186 shares of the information services provider’s stock valued at $355,366,000 after buying an additional 4,300 shares during the last quarter. Woodstock Corp raised its stake in Alphabet by 0.4% in the third quarter. Woodstock Corp now owns 9,916 shares of the information services provider’s stock valued at $7,708,000 after buying an additional 37 shares during the last quarter. First Trust Advisors LP raised its stake in Alphabet by 8.3% in the third quarter. First Trust Advisors LP now owns 248,173 shares of the information services provider’s stock valued at $192,902,000 after buying an additional 18,978 shares during the last quarter. Finally, Professional Advisory Services Inc. raised its stake in Alphabet by 2.3% in the third quarter. Professional Advisory Services Inc. now owns 20,350 shares of the information services provider’s stock valued at $15,818,000 after buying an additional 462 shares during the last quarter. 34.74% of the stock is currently owned by institutional investors and hedge funds.
Shares of Alphabet Inc (NASDAQ:GOOG) traded up 0.146% during trading on Friday, hitting $842.875. 258,939 shares of the company traded hands. The stock has a market cap of $582.78 billion, a price-to-earnings ratio of 30.235 and a beta of 0.94. The firm has a 50 day moving average price of $833.04 and a 200-day moving average price of $802.56. Alphabet Inc has a one year low of $663.28 and a one year high of $853.50.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Thursday, January 26th. The information services provider reported $9.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $9.67 by $0.31. The company had revenue of $26.04 billion for the quarter, compared to analyst estimates of $25.18 billion. Alphabet had a return on equity of 14.85% and a net margin of 21.58%. The firm’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter last year, the company earned $8.67 EPS. Analysts predict that Alphabet Inc will post $33.26 EPS for the current year.
Several analysts recently weighed in on the stock. Cowen and Company reiterated an “outperform” rating and issued a $1,050.00 target price on shares of Alphabet in a report on Wednesday. Macquarie reiterated a “buy” rating and issued a $975.00 target price on shares of Alphabet in a report on Tuesday. Barclays PLC reiterated an “overweight” rating on shares of Alphabet in a report on Monday. BMO Capital Markets downgraded shares of Alphabet from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $1,005.00 to $880.00 in a report on Thursday, April 6th. Finally, Aegis restated a “buy” rating and issued a $1,011.00 price target on shares of Alphabet in a research note on Sunday, April 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and forty-two have issued a buy rating to the company. Alphabet presently has a consensus rating of “Buy” and an average price target of $956.36.
In other Alphabet news, insider Diane B. Greene sold 1,863 shares of the company’s stock in a transaction dated Wednesday, February 1st. The shares were sold at an average price of $799.86, for a total transaction of $1,490,139.18. Following the transaction, the insider now directly owns 85,221 shares in the company, valued at approximately $68,164,869.06. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Lawrence Page sold 33,332 shares of the company’s stock in a transaction dated Monday, January 30th. The shares were sold at an average price of $814.49, for a total transaction of $27,148,580.68. Following the transaction, the chief executive officer now owns 30,666 shares in the company, valued at $24,977,150.34. The disclosure for this sale can be found here. In the last quarter, insiders have sold 281,688 shares of company stock worth $229,255,327. 13.92% of the stock is owned by corporate insiders.
Alphabet Company Profile
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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