Alphabet Inc. (NASDAQ:GOOGL) Stake Reduced by DDD Partners LLC

DDD Partners LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 4.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 3,600 shares of the information services provider’s stock after selling 180 shares during the quarter. DDD Partners LLC’s holdings in Alphabet were worth $503,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of GOOGL. Vanguard Group Inc. grew its holdings in Alphabet by 1,919.4% in 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 buying an additional 453,413,389 shares in the last quarter. State Street Corp boosted its position in Alphabet by 1,900.6% during the 3rd 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 period. Moneta Group Investment Advisors LLC grew its stake in shares of Alphabet by 111,197.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock worth $15,036,178,000 after purchasing an additional 170,267,122 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 valued at $11,106,502,000 after purchasing an additional 109,870,525 shares during the period. Finally, Norges Bank bought a new stake in shares of Alphabet during the fourth quarter valued at about $8,335,063,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, insider John Kent Walker sold 12,084 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $151.19, for a total value of $1,826,979.96. Following the completion of the sale, the insider now directly owns 48,717 shares in the company, valued at $7,365,523.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider John Kent Walker sold 12,084 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $151.19, for a total value of $1,826,979.96. Following the completion of the sale, the insider now directly owns 48,717 shares in the company, valued at approximately $7,365,523.23. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $148.78, for a total value of $3,347,550.00. Following the sale, the chief executive officer now directly owns 2,310,191 shares of the company’s stock, valued at approximately $343,710,216.98. The disclosure for this sale can be found here. Insiders sold 263,312 shares of company stock worth $37,268,315 over the last ninety days. 0.88% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several research analyst reports. Truist Financial lowered their target price on shares of Alphabet from $160.00 to $158.00 and set a “buy” rating on the stock in a research note on Wednesday, January 31st. Rosenblatt Securities dropped their target price on Alphabet from $174.00 to $172.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. Wedbush increased their price target on Alphabet from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Friday, March 22nd. JMP Securities boosted their price objective on Alphabet from $150.00 to $160.00 and gave the stock a “market outperform” rating in a research note on Wednesday, January 31st. Finally, Wells Fargo & Company raised their target price on Alphabet from $141.00 to $144.00 and gave the company an “equal weight” rating in a research note on Monday, March 18th. Five equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.48.

Read Our Latest Research Report on GOOGL

Alphabet Price Performance

GOOGL opened at $150.93 on Friday. The stock has a fifty day moving average price of $143.67 and a 200 day moving average price of $138.21. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 1 year low of $99.78 and a 1 year high of $153.78. The stock has a market cap of $1.88 trillion, a price-to-earnings ratio of 26.02, a PEG ratio of 1.39 and a beta of 1.04.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The business had revenue of $86.31 billion during the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same period in the previous year, the company earned $1.05 EPS. Analysts forecast that Alphabet Inc. will post 6.77 EPS for the current fiscal year.

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, devices, 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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