Ardevora Asset Management LLP Has $86.35 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Ardevora Asset Management LLP lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 51.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 721,402 shares of the information services provider’s stock after selling 758,660 shares during the quarter. Alphabet accounts for about 2.1% of Ardevora Asset Management LLP’s investment portfolio, making the stock its 4th biggest position. Ardevora Asset Management LLP’s holdings in Alphabet were worth $86,352,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOGL. DC Investments Management LLC bought a new stake in shares of Alphabet in the 1st quarter worth about $114,000. Bridgefront Capital LLC acquired a new position in Alphabet in the first quarter valued at about $225,000. Worth Asset Management LLC bought a new stake in Alphabet during the first quarter worth about $206,000. Eudaimonia Advisors LLC grew its stake in Alphabet by 15.1% during the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after buying an additional 13 shares during the last quarter. Finally, Aspire Capital Advisors LLC acquired a new stake in shares of Alphabet during the first quarter worth approximately $281,000. Institutional investors own 35.08% of the company’s stock.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 200 shares of the stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $137.30, for a total transaction of $27,460.00. Following the completion of the transaction, the director now directly owns 7,584 shares in the company, valued at $1,041,283.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 3,749 shares of Alphabet stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $136.28, for a total value of $510,913.72. Following the sale, the chief accounting officer now directly owns 25,568 shares in the company, valued at approximately $3,484,407.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $137.30, for a total transaction of $27,460.00. Following the transaction, the director now owns 7,584 shares of the company’s stock, valued at $1,041,283.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 133,497 shares of company stock worth $12,785,260. Corporate insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the topic of a number of research analyst reports. The Goldman Sachs Group increased their price target on Alphabet from $132.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, July 17th. Piper Sandler increased their target price on Alphabet from $140.00 to $148.00 in a report on Wednesday, July 26th. 51job restated a “downgrade” rating on shares of Alphabet in a research note on Tuesday, June 27th. Sanford C. Bernstein upped their price target on shares of Alphabet from $130.00 to $135.00 in a research report on Wednesday, July 26th. Finally, Robert W. Baird boosted their target price 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. Four analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $143.89.

Alphabet Price Performance

Shares of GOOGL opened at $137.40 on Friday. The stock has a 50 day simple moving average of $129.24 and a 200 day simple moving average of $117.17. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $138.70. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.14 and a current ratio of 2.17. The firm has a market capitalization of $1.73 trillion, a PE ratio of 29.11, a P/E/G ratio of 1.57 and a beta of 1.06.

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

Alphabet Profile

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.