Sarasin & Partners LLP Lowers Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Sarasin & Partners LLP lessened its holdings in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 6.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 33,641 shares of the information services provider’s stock after selling 2,149 shares during the period. Sarasin & Partners LLP’s holdings in Alphabet were worth $93,567,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in GOOGL. Regatta Capital Group LLC bought a new position in shares of Alphabet during the 4th quarter worth approximately $9,409,000. Alerus Financial NA increased its stake in shares of Alphabet by 0.4% in the fourth quarter. Alerus Financial NA now owns 9,340 shares of the information services provider’s stock worth $27,058,000 after acquiring an additional 41 shares during the period. DNB Asset Management AS increased its stake in shares of Alphabet by 8.0% in the first quarter. DNB Asset Management AS now owns 258,677 shares of the information services provider’s stock worth $719,471,000 after acquiring an additional 19,234 shares during the period. Paradigm Financial Partners LLC increased its stake in shares of Alphabet by 2.8% in the fourth quarter. Paradigm Financial Partners LLC now owns 3,131 shares of the information services provider’s stock worth $9,071,000 after acquiring an additional 85 shares during the period. Finally, Marion Wealth Management increased its stake in shares of Alphabet by 27.2% in the first quarter. Marion Wealth Management now owns 528 shares of the information services provider’s stock worth $1,469,000 after acquiring an additional 113 shares during the period. 41.70% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Ann Mather sold 21 shares of the company’s stock in a transaction that occurred on Wednesday, May 25th. The stock was sold at an average price of $2,102.84, for a total transaction of $44,159.64. Following the completion of the sale, the director now owns 565 shares in the company, valued at $1,188,104.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 490 shares of the company’s stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $2,335.30, for a total value of $1,144,297.00. Following the sale, the senior vice president now owns 497 shares of the company’s stock, valued at approximately $1,160,644.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 550,357 shares of company stock valued at $21,855,978. 11.44% of the stock is owned by company insiders.

GOOGL has been the topic of a number of recent analyst reports. KeyCorp lowered their price target on shares of Alphabet from $3,400.00 to $3,075.00 and set an “overweight” rating on the stock in a report on Wednesday, April 20th. Evercore ISI lowered their price target on shares of Alphabet from $3,500.00 to $3,300.00 and set an “outperform” rating on the stock in a report on Wednesday, April 27th. Stifel Nicolaus lowered their price target on shares of Alphabet from $3,500.00 to $3,100.00 and set a “buy” rating on the stock in a report on Wednesday, April 27th. StockNews.com downgraded shares of Alphabet from a “buy” rating to a “hold” rating in a research report on Friday, April 29th. Finally, Wedbush reduced their target price on Alphabet from $3,800.00 to $3,113.00 in a report on Wednesday, April 27th. One research analyst has rated the stock with a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $3,297.86.

GOOGL stock opened at $2,229.75 on Thursday. The business has a 50 day moving average price of $2,300.45 and a 200 day moving average price of $2,598.40. The stock has a market cap of $1.47 trillion, a price-to-earnings ratio of 20.17, a PEG ratio of 1.05 and a beta of 1.13. Alphabet Inc. has a fifty-two week low of $2,037.69 and a fifty-two week high of $3,030.93. The company has a quick ratio of 2.85, a current ratio of 2.87 and a debt-to-equity ratio of 0.06.

Shares of Alphabet are scheduled to split before the market opens on Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly created shares will be distributed to shareholders after the closing bell on Friday, July 15th.

Alphabet (NASDAQ:GOOGLGet Rating) last issued its quarterly earnings data on Tuesday, April 26th. The information services provider reported $24.62 earnings per share for the quarter, missing analysts’ consensus estimates of $25.70 by ($1.08). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. The firm had revenue of $56.02 billion during the quarter, compared to analysts’ expectations of $56.17 billion. During the same quarter in the prior year, the firm posted $26.29 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 110.83 EPS for the current year.

About Alphabet (Get Rating)

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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