S&CO Inc. Grows Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

S&CO Inc. grew its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 2.2% during the first quarter, HoldingsChannel.com reports. The fund owned 6,617 shares of the information services provider’s stock after purchasing an additional 140 shares during the quarter. Alphabet makes up about 1.3% of S&CO Inc.’s portfolio, making the stock its 27th biggest holding. S&CO Inc.’s holdings in Alphabet were worth $18,404,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in GOOGL. State Street Corp grew its stake in shares of Alphabet by 1.4% during the fourth quarter. State Street Corp now owns 11,252,792 shares of the information services provider’s stock valued at $32,599,789,000 after acquiring an additional 157,280 shares in the last quarter. Geode Capital Management LLC grew its stake in Alphabet by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 5,322,633 shares of the information services provider’s stock valued at $15,381,257,000 after purchasing an additional 116,084 shares in the last quarter. Norges Bank acquired a new stake in Alphabet during the 4th quarter valued at approximately $14,477,662,000. Massachusetts Financial Services Co. MA increased its holdings in Alphabet by 0.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,825,959 shares of the information services provider’s stock worth $8,186,916,000 after purchasing an additional 20,120 shares during the last quarter. Finally, Invesco Ltd. boosted its stake 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 valued at $6,640,190,000 after buying an additional 283,907 shares during the last quarter. Institutional investors and hedge funds own 41.70% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several recent analyst reports. Wolfe Research cut their price target on shares of Alphabet from $175.00 to $145.00 and set an “outperform” rating on the stock in a report on Wednesday, April 27th. Monness Crespi & Hardt reduced their price target on shares of Alphabet to $145.00 in a research report on Tuesday, July 5th. MKM Partners cut their price objective on Alphabet from $165.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, July 18th. Itaú Unibanco started coverage on Alphabet in a research report on Tuesday, July 26th. They issued a “market perform” rating and a $113.00 target price for the company. Finally, Exane BNP Paribas lowered Alphabet from an “outperform” rating to a “neutral” rating in a research report on Wednesday, July 20th. Five 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $147.36.

Alphabet Stock Performance

Shares of GOOGL opened at $117.30 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.81 and a quick ratio of 2.78. The firm’s 50 day moving average is $155.37 and its 200-day moving average is $137.93. Alphabet Inc. has a 12-month low of $101.88 and a 12-month high of $151.55. The stock has a market capitalization of $1.54 trillion, a P/E ratio of 21.82, a P/E/G ratio of 1.90 and a beta of 1.08.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its quarterly earnings results 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 return on equity of 28.65% and a net margin of 25.89%. During the same quarter last year, the business posted $27.26 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 5.22 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder 2021 Gp L.L.C. Gv purchased 13,528 shares of the company’s stock in a transaction that occurred on Tuesday, May 24th. The shares were purchased at an average price of $33.72 per share, with a total value of $456,164.16. Following the purchase, the insider now owns 593,402 shares of the company’s stock, valued at approximately $20,009,515.44. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv bought 13,528 shares of Alphabet stock in a transaction dated Tuesday, May 24th. The stock was bought at an average price of $33.72 per share, for a total transaction of $456,164.16. Following the completion of the acquisition, the insider now directly owns 593,402 shares of the company’s stock, valued at $20,009,515.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ann Mather sold 21 shares of Alphabet stock in a transaction on Wednesday, May 25th. The shares were sold at an average price of $2,102.84, for a total value of $44,159.64. Following the transaction, the director now owns 565 shares in the company, valued at approximately $1,188,104.60. The disclosure for this sale can be found here. Insiders sold a total of 42,352 shares of company stock valued at $15,690,955 over the last three months. Insiders own 11.44% of the company’s stock.

About Alphabet

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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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