swisspartners Ltd. grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 472.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,854 shares of the information services provider’s stock after purchasing an additional 8,958 shares during the quarter. swisspartners Ltd.’s holdings in Alphabet were worth $975,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of Alphabet during the 4th quarter worth approximately $14,477,662,000. Fundsmith LLP acquired a new position in shares of Alphabet during the 4th quarter worth approximately $1,214,138,000. Invesco Ltd. increased its holdings in shares of Alphabet by 14.1% during the 4th quarter. Invesco Ltd. now owns 2,292,059 shares of the information services provider’s stock worth $6,640,190,000 after acquiring an additional 283,907 shares during the last quarter. State Street Corp increased its holdings in shares of Alphabet by 1.4% during the 4th quarter. State Street Corp now owns 11,252,792 shares of the information services provider’s stock worth $32,599,789,000 after acquiring an additional 157,280 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. acquired a new position in shares of Alphabet during the 4th quarter worth approximately $52,000. Institutional investors and hedge funds own 41.70% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the company. Mizuho decreased their target price on Alphabet from $175.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, July 22nd. Rosenblatt Securities reissued a “maintains” rating on shares of Alphabet in a report on Wednesday, July 27th. UBS Group decreased their target price on Alphabet from $133.00 to $132.00 and set a “buy” rating on the stock in a report on Wednesday, July 27th. William Blair restated an “outperform” rating on shares of Alphabet in a research note on Wednesday, July 27th. Finally, Wolfe Research reduced their price target on Alphabet from $175.00 to $145.00 and set an “outperform” rating for the company in a research note on Wednesday, April 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’s stock. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $147.36.
Alphabet Price Performance
Alphabet (NASDAQ:GOOGL – Get Rating) last announced its quarterly earnings data 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 return on equity of 28.65% and a net margin of 25.89%. During the same period in the prior year, the company earned $27.26 EPS. On average, sell-side analysts forecast that Alphabet Inc. will post 5.22 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, major shareholder 2021 Gp L.L.C. Gv bought 13,528 shares of the stock in a transaction on Tuesday, May 24th. The stock was acquired at an average price of $33.72 per share, with a total value of $456,164.16. Following the acquisition, the insider now directly owns 593,402 shares in the company, valued at $20,009,515.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 847 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $114.33, for a total value of $96,837.51. Following the completion of the transaction, the chief accounting officer now owns 24,052 shares of the company’s stock, valued at approximately $2,749,865.16. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv bought 13,528 shares of the stock in a transaction on Tuesday, May 24th. The stock was purchased at an average cost of $33.72 per share, with a total value of $456,164.16. Following the acquisition, the insider now owns 593,402 shares in the company, valued at $20,009,515.44. The disclosure for this purchase can be found here. Insiders sold a total of 7,584 shares of company stock valued at $11,646,684 in the last 90 days. Corporate insiders own 11.44% of the company’s stock.
Alphabet Company Profile
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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