Coronation Fund Managers Ltd. Buys 1,061 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Coronation Fund Managers Ltd. grew its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 5.5% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 20,517 shares of the information services provider’s stock after acquiring an additional 1,061 shares during the period. Alphabet accounts for approximately 2.2% of Coronation Fund Managers Ltd.’s investment portfolio, making the stock its 15th biggest holding. Coronation Fund Managers Ltd.’s holdings in Alphabet were worth $57,065,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GOOGL. Morling Financial Advisors LLC purchased a new stake in Alphabet in the 4th quarter worth approximately $29,000. West Bancorporation Inc. purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $29,000. Wealthgate Family Office LLC purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $32,000. NS Partners Ltd purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $41,000. Finally, AHL Investment Management Inc. purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $46,000. Hedge funds and other institutional investors own 41.70% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOGL opened at $116.32 on Monday. The company has a market capitalization of $1.53 trillion, a PE ratio of 21.04, a price-to-earnings-growth ratio of 1.12 and a beta of 1.10. 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 business’s fifty day moving average is $154.46 and its 200 day moving average is $138.72. Alphabet Inc. has a fifty-two week low of $101.88 and a fifty-two week high of $151.55.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share 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 period in the previous year, the company earned $27.26 EPS. Sell-side analysts predict that Alphabet Inc. will post 5.37 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on GOOGL shares. Morgan Stanley raised their target price on Alphabet from $140.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, July 27th. Bank of America lowered their target price on Alphabet from $132.00 to $125.00 and set a “buy” rating for the company in a research note on Wednesday, July 27th. Oppenheimer lowered their target price on Alphabet to $155.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. BNP Paribas cut Alphabet from an “outperform” rating to a “neutral” rating and set a $118.00 price objective for the company. in a research note on Wednesday, July 20th. Finally, Credit Suisse Group lowered their price objective on Alphabet from $143.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. Five investment analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.29.

Insider Activity at Alphabet

In other news, Director Ann Mather sold 20 shares of the business’s stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total value of $47,666.40. Following the transaction, the director now directly owns 565 shares in the company, valued at $1,346,575.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Ann Mather sold 20 shares of the business’s stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total value of $47,666.40. Following the transaction, the director now directly owns 565 shares in the company, valued at $1,346,575.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 42 shares of the business’s stock in a transaction dated Tuesday, May 3rd. The shares were sold at an average price of $2,335.30, for a total value of $98,082.60. Following the completion of the transaction, the chief accounting officer now owns 1,170 shares in the company, valued at $2,732,301. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,269 shares of company stock worth $12,792,226. Corporate insiders own 11.44% of the company’s stock.

Alphabet Company 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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