WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST Buys 2,755,000 Shares of Alphabet Inc. (NASDAQ:GOOGL)

WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST grew its holdings in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 1,900.0% during the third quarter, HoldingsChannel.com reports. The firm owned 2,900,000 shares of the information services provider’s stock after acquiring an additional 2,755,000 shares during the quarter. Alphabet makes up about 4.3% of WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST’s holdings, making the stock its 12th biggest holding. WELLCOME TRUST LTD THE as trustee of the WELLCOME TRUST’s holdings in Alphabet were worth $277,385,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in Alphabet by 1.4% in the first 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. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Alphabet by 1,884.3% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,922,978 shares of the information services provider’s stock valued at $1,714,333,000 after buying an additional 17,019,726 shares during the period. Fiera Capital Corp increased its stake in shares of Alphabet by 1,957.3% during the second quarter. Fiera Capital Corp now owns 17,857,280 shares of the information services provider’s stock valued at $1,945,783,000 after buying an additional 16,989,271 shares during the period. Nordea Investment Management AB increased its stake in shares of Alphabet by 1,830.2% during the third quarter. Nordea Investment Management AB now owns 16,487,668 shares of the information services provider’s stock valued at $1,605,074,000 after buying an additional 15,633,495 shares during the period. Finally, Raymond James & Associates increased its stake in shares of Alphabet by 1,927.0% during the third quarter. Raymond James & Associates now owns 8,284,714 shares of the information services provider’s stock valued at $792,433,000 after buying an additional 7,875,993 shares during the period. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Alphabet Stock Up 2.1 %

Alphabet stock opened at $93.05 on Friday. The stock has a market capitalization of $1.20 trillion, a PE ratio of 18.48, a price-to-earnings-growth ratio of 1.62 and a beta of 1.09. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $151.55. The business has a 50 day simple moving average of $93.00 and a 200-day simple moving average of $101.63. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.52 and a quick ratio of 2.47.

Alphabet (NASDAQ:GOOGLGet Rating) last posted its quarterly earnings data on Tuesday, October 25th. The information services provider reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.19). The business had revenue of $57.27 billion during the quarter, compared to analysts’ expectations of $58.36 billion. Alphabet had a net margin of 23.75% and a return on equity of 26.41%. During the same quarter last year, the firm earned $1.40 earnings per share. On average, analysts anticipate that Alphabet Inc. will post 4.68 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Susquehanna Bancshares cut their price target on Alphabet from $150.00 to $120.00 and set a “positive” rating on the stock in a research note on Wednesday, October 26th. Needham & Company LLC dropped their price objective on Alphabet from $160.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, December 22nd. Cowen dropped their price objective on Alphabet to $135.00 in a research report on Thursday, October 27th. New Street Research began coverage on Alphabet in a research report on Wednesday, January 4th. They set a “buy” rating and a $118.00 price objective on the stock. Finally, Credit Suisse Group dropped their price objective on Alphabet from $134.00 to $128.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 26th. Five research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $132.13.

Insider Activity

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv acquired 800,000 shares of the business’s stock in a transaction dated Monday, October 24th. The stock was acquired at an average cost of $17.00 per share, for a total transaction of $13,600,000.00. Following the completion of the transaction, the insider now directly owns 11,522,248 shares of the company’s stock, valued at $195,878,216. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CAO Amie Thuener O’toole sold 855 shares of Alphabet stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total value of $77,933.25. Following the sale, the chief accounting officer now directly owns 25,122 shares of the company’s stock, valued at $2,289,870.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv purchased 800,000 shares of the stock in a transaction dated Monday, October 24th. The stock was purchased at an average cost of $17.00 per share, for a total transaction of $13,600,000.00. Following the completion of the purchase, the insider now directly owns 11,522,248 shares of the company’s stock, valued at $195,878,216. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 1,461,702 shares of company stock worth $36,999,217 and sold 190,744 shares worth $8,564,640. Company insiders own 11.44% of the company’s stock.

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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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