Veriti Management LLC Has $17.25 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Veriti Management LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 4.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,202 shares of the information services provider’s stock after buying an additional 238 shares during the period. Alphabet comprises 2.1% of Veriti Management LLC’s portfolio, making the stock its 4th biggest holding. Veriti Management LLC’s holdings in Alphabet were worth $17,250,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. New World Advisors LLC raised its position in Alphabet by 7.5% in the third quarter. New World Advisors LLC now owns 428 shares of the information services provider’s stock worth $1,178,000 after purchasing an additional 30 shares in the last quarter. EagleClaw Capital Managment LLC increased its holdings in shares of Alphabet by 1.1% during the third quarter. EagleClaw Capital Managment LLC now owns 1,209 shares of the information services provider’s stock worth $3,232,000 after buying an additional 13 shares in the last quarter. Balyasny Asset Management LLC increased its holdings in shares of Alphabet by 254.8% during the third quarter. Balyasny Asset Management LLC now owns 42,610 shares of the information services provider’s stock worth $113,919,000 after buying an additional 30,600 shares in the last quarter. MFA Wealth Advisors LLC acquired a new stake in shares of Alphabet during the third quarter worth approximately $145,000. Finally, Chartwell Investment Partners LLC increased its holdings in shares of Alphabet by 1.7% during the third quarter. Chartwell Investment Partners LLC now owns 2,534 shares of the information services provider’s stock worth $6,775,000 after buying an additional 43 shares in the last quarter. Institutional investors and hedge funds own 41.70% of the company’s stock.

Several analysts have recently weighed in on GOOGL shares. Wedbush dropped their price objective on shares of Alphabet from $3,800.00 to $3,113.00 in a report on Wednesday, April 27th. UBS Group lowered their price target on shares of Alphabet from $3,600.00 to $2,650.00 and set a “buy” rating for the company in a report on Thursday, June 16th. KeyCorp lowered their price target on shares of Alphabet from $3,400.00 to $3,075.00 and set an “overweight” rating for the company in a report on Wednesday, April 20th. Moffett Nathanson lowered their price target on shares of Alphabet to $2,650.00 in a report on Thursday, May 26th. Finally, Wells Fargo & Company reduced their price objective on shares of Alphabet from $3,600.00 to $3,400.00 in a research note on Wednesday, April 27th. One analyst has rated the stock with a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $3,297.86.

In other news, major shareholder 2016 Gp L.L.C. Gv sold 544,249 shares of the company’s stock in a transaction that occurred on Monday, April 11th. The shares were sold at an average price of $11.16, for a total transaction of $6,073,818.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 33 shares of the company’s stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $2,348.39, for a total transaction of $77,496.87. Following the sale, the director now directly owns 78 shares of the company’s stock, valued at approximately $183,174.42. The disclosure for this sale can be found here. Insiders sold a total of 550,357 shares of company stock valued at $21,855,978 in the last three months. Insiders own 11.44% of the company’s stock.

Shares of GOOGL stock opened at $2,229.75 on Thursday. The company has a market capitalization of $1.47 trillion, a price-to-earnings ratio of 20.17, a PEG ratio of 1.05 and a beta of 1.13. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.85 and a current ratio of 2.87. The company has a 50-day simple moving average of $2,300.45 and a 200 day simple moving average of $2,598.40. Alphabet Inc. has a 52 week low of $2,037.69 and a 52 week high of $3,030.93.

Shares of Alphabet are going to split on the morning of Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly issued shares will be payable to shareholders after the closing bell on Friday, July 15th.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its quarterly earnings data on Tuesday, April 26th. The information services provider reported $24.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $25.70 by ($1.08). The business had revenue of $56.02 billion during the quarter, compared to the consensus estimate of $56.17 billion. Alphabet had a net margin of 27.57% and a return on equity of 30.18%. During the same period in the prior year, the firm earned $26.29 EPS. Sell-side analysts forecast 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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