Dash Acquisitions Inc. Raises Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Dash Acquisitions Inc. lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 2,763.1% in the third quarter, HoldingsChannel reports. The firm owned 5,039 shares of the information services provider’s stock after acquiring an additional 4,863 shares during the period. Alphabet makes up about 0.3% of Dash Acquisitions Inc.’s portfolio, making the stock its 26th biggest holding. Dash Acquisitions Inc.’s holdings in Alphabet were worth $482,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Alphabet by 1,919.4% during the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after purchasing an additional 453,413,389 shares in the last quarter. State Street Corp boosted its position in Alphabet by 1,900.6% during the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after acquiring an additional 206,300,042 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Alphabet by 1,759.2% during the third quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock worth $11,106,502,000 after acquiring an additional 109,870,525 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Alphabet by 1,955.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 61,134,061 shares of the information services provider’s stock worth $5,847,474,000 after acquiring an additional 58,159,150 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Alphabet by 1,896.9% during the third quarter. Bank of New York Mellon Corp now owns 58,060,946 shares of the information services provider’s stock worth $5,553,529,000 after acquiring an additional 55,153,448 shares during the last quarter. 34.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GOOGL has been the topic of a number of analyst reports. Wells Fargo & Company raised their target price on shares of Alphabet from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. MKM Partners raised their target price on shares of Alphabet from $120.00 to $126.00 in a research report on Friday, February 3rd. Needham & Company LLC restated a “buy” rating and set a $115.00 target price on shares of Alphabet in a research report on Wednesday, March 8th. StockNews.com began coverage on shares of Alphabet in a research report on Thursday. They set a “hold” rating on the stock. Finally, KeyCorp decreased their price target on shares of Alphabet from $118.00 to $117.00 and set an “overweight” rating on the stock in a report on Monday, January 30th. Five investment analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $132.32.

Insider Activity at Alphabet

In related news, Director Ann Mather sold 340 shares of the business’s stock in a transaction dated Wednesday, January 25th. The stock was sold at an average price of $96.92, for a total value of $32,952.80. Following the completion of the sale, the director now directly owns 11,300 shares of the company’s stock, valued at $1,095,196. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Ann Mather sold 340 shares of the business’s stock in a transaction dated Wednesday, January 25th. The stock was sold at an average price of $96.92, for a total value of $32,952.80. Following the completion of the sale, the director now directly owns 11,300 shares of the company’s stock, valued at $1,095,196. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total value of $77,933.25. Following the completion of the sale, the chief accounting officer now directly owns 25,122 shares of the company’s stock, valued at $2,289,870.30. The disclosure for this sale can be found here. Insiders sold a total of 74,245 shares of company stock valued at $7,174,078 over the last three months. 11.44% of the stock is owned by insiders.

Alphabet Stock Up 4.4 %

Shares of NASDAQ GOOGL opened at $100.32 on Friday. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $143.79. The firm has a market cap of $1.28 trillion, a price-to-earnings ratio of 22.04, a PEG ratio of 1.26 and a beta of 1.09. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38. The stock’s 50-day simple moving average is $94.79 and its 200-day simple moving average is $96.32.

Alphabet (NASDAQ:GOOGL – Get Rating) last announced its earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The business had revenue of $76.05 billion for the quarter, compared to analysts’ expectations of $63.15 billion. During the same period in the previous year, the firm posted $1.53 earnings per share. As a group, equities analysts anticipate that Alphabet Inc. will post 5.12 earnings per share for the current fiscal year.

Alphabet Company Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.