MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH cut its stake in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 1.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 272,181 shares of the information services provider’s stock after selling 2,890 shares during the period. Alphabet accounts for about 1.7% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s portfolio, making the stock its 24th largest position. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Alphabet were worth $52,447,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also bought and sold shares of the company. FMR LLC boosted its holdings in shares of Alphabet by 5.2% in the 3rd quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock valued at $19,193,768,000 after acquiring an additional 5,655,022 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Alphabet by 0.3% in the third quarter. Geode Capital Management LLC now owns 103,557,486 shares of the information services provider’s stock valued at $17,247,208,000 after purchasing an additional 259,213 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Alphabet by 10.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock worth $5,573,125,000 after purchasing an additional 3,113,395 shares during the period. Jennison Associates LLC raised its stake in shares of Alphabet by 9.1% during the 3rd quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider’s stock valued at $2,578,793,000 after buying an additional 1,291,274 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Alphabet by 2.5% in the 3rd quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock valued at $1,843,149,000 after buying an additional 264,962 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.
Insiders Place Their Bets
In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $194.22, for a total value of $291,330.00. Following the transaction, the director now owns 23,324 shares of the company’s stock, valued at $4,529,987.28. This represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the sale, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 133,387 shares of company stock valued at $24,368,654 over the last ninety days. Company insiders own 12.99% of the company’s stock.
Alphabet Price Performance
Alphabet (NASDAQ:GOOG – Get Free Report) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period last year, the company earned $1.55 EPS. Equities research analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on GOOG shares. Jefferies Financial Group lifted their price target on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company boosted their target price on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group raised their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer upped their price objective on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Six research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $205.13.
View Our Latest Analysis on GOOG
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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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