Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by LGT Capital Partners LTD.

LGT Capital Partners LTD. lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 26.0% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,504,549 shares of the information services provider’s stock after selling 527,624 shares during the quarter. Alphabet accounts for about 6.2% of LGT Capital Partners LTD.’s investment portfolio, making the stock its 3rd largest holding. LGT Capital Partners LTD.’s holdings in Alphabet were worth $180,095,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GOOGL. Vanguard Group Inc. raised its stake in shares of Alphabet by 1,919.4% during the third quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock valued at $45,628,484,000 after purchasing an additional 453,413,389 shares during the period. State Street Corp raised its stake in shares of 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 valued at $20,770,809,000 after purchasing an additional 206,300,042 shares during the period. Moneta Group Investment Advisors LLC raised its stake in shares of Alphabet by 111,197.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock valued at $15,036,178,000 after purchasing an additional 170,267,122 shares during the period. Geode Capital Management LLC increased its stake in shares of Alphabet by 1.3% in the first quarter. Geode Capital Management LLC now owns 118,576,618 shares of the information services provider’s stock worth $12,271,705,000 after buying an additional 1,499,107 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Alphabet by 1,759.2% in 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 buying an additional 109,870,525 shares during the last quarter. Institutional investors and hedge funds own 35.08% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL opened at $137.40 on Friday. The company has a market capitalization of $1.73 trillion, a price-to-earnings ratio of 29.11, a P/E/G ratio of 1.57 and a beta of 1.06. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $138.70. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.14. The business’s 50-day moving average is $129.24 and its 200-day moving average is $117.17.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, July 25th. The information services provider reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.12. The company had revenue of $74.60 billion for the quarter, compared to the consensus estimate of $60.24 billion. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. During the same quarter in the prior year, the company earned $1.21 EPS. Equities research analysts expect that Alphabet Inc. will post 5.68 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GOOGL. Wolfe Research lifted their price target on shares of Alphabet from $130.00 to $140.00 in a research note on Monday, July 10th. Robert W. Baird lifted their price target on shares of Alphabet from $123.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, July 21st. Jefferies Financial Group boosted their target price on shares of Alphabet from $150.00 to $165.00 in a research note on Wednesday, July 26th. Truist Financial boosted their target price on shares of Alphabet from $122.00 to $160.00 in a research note on Wednesday, July 26th. Finally, 51job reiterated a “downgrade” rating on shares of Alphabet in a research note on Tuesday, June 27th. Four research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $143.89.

Insider Activity at Alphabet

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of the company’s stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $15.06, for a total transaction of $563,319.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Ann Mather sold 380 shares of the stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $121.42, for a total value of $46,139.60. Following the completion of the sale, the director now directly owns 4,700 shares of the company’s stock, valued at $570,674. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of the company’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $15.06, for a total value of $563,319.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 133,497 shares of company stock valued at $12,785,260. 0.88% of the stock is owned by corporate insiders.

About Alphabet

Alphabet Inc offers 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 provides products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.