Pictet & Cie Europe SA Purchases 2,639 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Pictet & Cie Europe SA lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 3.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,685 shares of the information services provider’s stock after acquiring an additional 2,639 shares during the quarter. Alphabet makes up approximately 7.7% of Pictet & Cie Europe SA’s portfolio, making the stock its 2nd biggest position. Pictet & Cie Europe SA’s holdings in Alphabet were worth $199,381,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Summit Financial Strategies Inc. lifted its stake in shares of Alphabet by 1.3% during the 4th quarter. Summit Financial Strategies Inc. now owns 322 shares of the information services provider’s stock valued at $933,000 after buying an additional 4 shares in the last quarter. Palisades Hudson Asset Management L.P. lifted its stake in shares of Alphabet by 1.1% during the 4th quarter. Palisades Hudson Asset Management L.P. now owns 361 shares of the information services provider’s stock valued at $1,046,000 after buying an additional 4 shares in the last quarter. AFT Forsyth & Company Inc. lifted its stake in shares of Alphabet by 0.3% during the 4th quarter. AFT Forsyth & Company Inc. now owns 1,183 shares of the information services provider’s stock valued at $3,427,000 after buying an additional 4 shares in the last quarter. Bay Harbor Wealth Management LLC lifted its stake in shares of Alphabet by 6.8% during the 4th quarter. Bay Harbor Wealth Management LLC now owns 63 shares of the information services provider’s stock valued at $175,000 after buying an additional 4 shares in the last quarter. Finally, Midwest Professional Planners LTD. increased its holdings in Alphabet by 2.3% in the 4th quarter. Midwest Professional Planners LTD. now owns 180 shares of the information services provider’s stock valued at $521,000 after acquiring an additional 4 shares during the last quarter. Institutional investors and hedge funds own 41.70% of the company’s stock.

Insider Transactions at Alphabet

In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv purchased 255,647 shares of the stock in a transaction dated Tuesday, May 10th. The stock was purchased at an average price of $34.65 per share, with a total value of $8,858,168.55. Following the transaction, the insider now owns 479,695 shares of the company’s stock, valued at $16,621,431.75. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv purchased 255,647 shares of the stock in a transaction dated Tuesday, May 10th. The stock was purchased at an average price of $34.65 per share, with a total value of $8,858,168.55. Following the transaction, the insider now owns 479,695 shares of the company’s stock, valued at $16,621,431.75. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ann Mather sold 20 shares of the company’s stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total transaction of $47,666.40. Following the completion of the sale, the director now directly owns 565 shares of the company’s stock, valued at approximately $1,346,575.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,584 shares of company stock valued at $11,646,684. Company insiders own 11.44% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $118.19 on Friday. The stock has a market cap of $1.56 trillion, a price-to-earnings ratio of 21.99, a price-to-earnings-growth ratio of 1.86 and a beta of 1.08. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 2.78. Alphabet Inc. has a 1 year low of $101.88 and a 1 year high of $151.55. The firm has a 50-day moving average of $155.17 and a two-hundred day moving average of $138.09.

Alphabet (NASDAQ:GOOGLGet Rating) last released its quarterly earnings data on Tuesday, July 26th. The information services provider reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.11). Alphabet had a net margin of 25.89% and a return on equity of 28.65%. During the same quarter in the previous year, the firm earned $27.26 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 5.22 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on GOOGL shares. Tigress Financial lifted their price target on shares of Alphabet from $183.00 to $186.00 and gave the company a “strong-buy” rating in a report on Wednesday. Stifel Nicolaus set a $155.00 price target on shares of Alphabet in a report on Monday, July 18th. Jefferies Financial Group reduced their price target on shares of Alphabet from $155.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, July 27th. BMO Capital Markets reduced their price target on shares of Alphabet from $165.00 to $150.00 and set an “outperform” rating on the stock in a report on Wednesday, April 27th. Finally, Evercore ISI reduced their price target on shares of Alphabet from $155.50 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, July 27th. Five research analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.36.

Alphabet 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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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