Alphabet Inc. (NASDAQ:GOOGL) Stock Position Boosted by Metis Global Partners LLC

Metis Global Partners LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 17.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 255,623 shares of the information services provider’s stock after purchasing an additional 38,362 shares during the period. Alphabet accounts for approximately 1.6% of Metis Global Partners LLC’s holdings, making the stock its 9th biggest position. Metis Global Partners LLC’s holdings in Alphabet were worth $33,451,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GOOGL. Bornite Capital Management LP acquired a new position in Alphabet during the 1st quarter valued at about $16,688,000. Markel Corp boosted its stake in Alphabet by 17.0% during the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after purchasing an additional 2,250 shares during the period. United Bank boosted its stake in Alphabet by 5.9% during the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after purchasing an additional 113 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Alphabet by 23.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after purchasing an additional 61,427 shares during the period. Finally, Dakota Wealth Management boosted its stake in Alphabet by 20.4% during the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after purchasing an additional 1,570 shares during the period. 35.08% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other news, Director Frances Arnold sold 230 shares of the stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $136.40, for a total transaction of $31,372.00. Following the transaction, the director now owns 14,515 shares in the company, valued at approximately $1,979,846. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CAO Amie Thuener O’toole sold 420 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $133.32, for a total transaction of $55,994.40. Following the transaction, the chief accounting officer now owns 26,833 shares in the company, valued at approximately $3,577,375.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $136.40, for a total transaction of $31,372.00. Following the completion of the transaction, the director now owns 14,515 shares in the company, valued at $1,979,846. The disclosure for this sale can be found here. Insiders have sold a total of 136,974 shares of company stock worth $19,427,217 in the last 90 days. 0.88% of the stock is owned by insiders.

Alphabet Stock Up 2.1 %

GOOGL stock opened at $149.00 on Friday. Alphabet Inc. has a 12-month low of $88.57 and a 12-month high of $153.78. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The company has a market cap of $1.86 trillion, a price-to-earnings ratio of 25.69, a PEG ratio of 1.35 and a beta of 1.06. The company has a 50 day moving average of $140.72 and a two-hundred day moving average of $135.72.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. During the same quarter in the prior year, the firm earned $1.05 EPS. On average, equities analysts anticipate that Alphabet Inc. will post 6.76 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GOOGL. Barclays reduced their price target on shares of Alphabet from $180.00 to $173.00 and set an “overweight” rating for the company in a research note on Wednesday, January 31st. Redburn Atlantic increased their price objective on shares of Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Truist Financial decreased their price objective on shares of Alphabet from $160.00 to $158.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. Morgan Stanley decreased their price objective on shares of Alphabet from $155.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday, October 25th. Finally, Wells Fargo & Company increased their price objective on shares of Alphabet from $126.00 to $129.00 and gave the company an “equal weight” rating in a report on Thursday, November 16th. Five equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $153.65.

View Our Latest Research Report on Alphabet

About Alphabet

(Free Report)

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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