Alphabet Inc. (NASDAQ:GOOGL) is Metropolis Capital Ltd’s Largest Position

Metropolis Capital Ltd lifted its stake in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 54.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 123,100 shares of the information services provider’s stock after buying an additional 43,651 shares during the quarter. Alphabet accounts for 14.3% of Metropolis Capital Ltd’s portfolio, making the stock its biggest position. Metropolis Capital Ltd’s holdings in Alphabet were worth $268,267,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Alphabet by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 23,304,411 shares of the information services provider’s stock worth $64,817,723,000 after purchasing an additional 331,945 shares during the period. State Street Corp increased its stake in shares of Alphabet by 1.4% in 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 in the last quarter. Norges Bank bought a new position in shares of Alphabet in the 4th quarter worth about $14,477,662,000. Aaron Wealth Advisors LLC increased its stake in shares of Alphabet by 699,790.2% in the 1st quarter. Aaron Wealth Advisors LLC now owns 4,703,262 shares of the information services provider’s stock worth $1,691,000 after acquiring an additional 4,702,590 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of Alphabet by 4.3% in the 1st quarter. Fisher Asset Management LLC now owns 2,025,990 shares of the information services provider’s stock worth $5,634,988,000 after acquiring an additional 83,043 shares in the last quarter. 1.88% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $100.14 on Friday. 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 $98.79 and a 1-year high of $151.55. The company has a market capitalization of $1.31 trillion, a P/E ratio of 18.63, a P/E/G ratio of 1.64 and a beta of 1.09. The firm’s 50 day simple moving average is $111.79 and its two-hundred day simple moving average is $117.82.

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 $1.27 by ($0.06). The company had revenue of $57.47 billion for the quarter, compared to the consensus estimate of $57.55 billion. 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 business earned $27.26 EPS. Research analysts expect that Alphabet Inc. will post 5.21 EPS for the current fiscal year.

Insider Activity

In other news, insider John Kent Walker sold 34,799 shares of Alphabet stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $118.25, for a total transaction of $4,114,981.75. Following the sale, the insider now owns 18,484 shares in the company, valued at $2,185,733. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider John Kent Walker sold 34,799 shares of the business’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $118.25, for a total value of $4,114,981.75. Following the sale, the insider now owns 18,484 shares in the company, valued at $2,185,733. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 42 shares of the business’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total transaction of $91,003.08. Following the completion of the sale, the chief accounting officer now owns 1,192 shares in the company, valued at approximately $2,582,754.08. The disclosure for this sale can be found here. Insiders have sold a total of 44,536 shares of company stock worth $15,729,998 over the last quarter. Insiders own 11.44% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the subject of several research reports. Susquehanna decreased their price target on shares of Alphabet from $187.50 to $150.00 and set a “positive” rating for the company in a research note on Wednesday, July 27th. Credit Suisse Group decreased their price target on shares of Alphabet from $143.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. Truist Financial reduced their price objective on shares of Alphabet from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, July 27th. William Blair restated an “outperform” rating on shares of Alphabet in a research note on Wednesday, July 27th. Finally, Wells Fargo & Company reduced their price objective on shares of Alphabet from $170.00 to $160.00 and set an “overweight” rating for the company in a research note on Wednesday, July 27th. Five analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $147.41.

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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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