Alphabet Inc. (NASDAQ:GOOGL) Participation strengthened by Sonata Capital Group Inc.
Sonata Capital Group Inc. increased its position in shares of Alphabet Inc. (NASDAQ: GOOGL – Get a rating) by 8.0% during the 1st quarter, according to its most recent communication to the Securities and Exchange Commission (SEC). The fund held 202 shares of the information services provider after buying 15 additional shares during the quarter. Sonata Capital Group Inc.’s holdings in Alphabet were worth $562,000 at the end of the last reporting period.
Other institutional investors and hedge funds have also recently changed their positions in the company. State Street Corp increased its stake in Alphabet by 1.4% in the fourth quarter. State Street Corp now owns 11,252,792 shares of the information services provider valued at $32,599,789,000 after buying an additional 157,280 shares in the last quarter. Geode Capital Management LLC increased its stake in Alphabet by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 5,322,633 shares of the information services provider valued at $15,381,257,000 after purchasing an additional 116,084 shares in the last quarter. Norges Bank purchased a new stake in Alphabet stock during the fourth quarter, valued at approximately $14,477,662,000. Massachusetts Financial Services Co. MA increased its stake in Alphabet shares by 0.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,825,959 shares of the information services provider valued at $8,186,916,000 after buying 20,120 additional shares last quarter. Finally, Invesco Ltd. increased its stake in Alphabet shares by 14.1% during the fourth quarter. Invesco Ltd. now owns 2,292,059 shares of the information services provider valued at $6,640,190,000 after purchasing an additional 283,907 shares last quarter. Hedge funds and other institutional investors own 41.70% of the company’s shares.
GOOGL has been the subject of a number of recent analyst reports. Morgan Stanley cut its price target on Alphabet shares from $3,270.00 to $3,000.00 in a Wednesday, June 1 research note. Piper Sandler lowered her price target on Alphabet shares from $2,900.00 to $2,775.00 and set an “overweight” rating on the stock in a Thursday, June 2 research report. Canaccord Genuity Group lowered its price target on Alphabet shares from $3,500.00 to $3,300.00 and set a “buy” rating on the stock in a Wednesday 27 research report. april. Monness Crespi & Hardt lowered their price target on Alphabet shares to $2,900.00 in a Tuesday, July 5 research report. Finally, Wells Fargo & Company lowered its price target on Alphabet shares from $3,600.00 to $3,400.00 in a Wednesday, April 27 research report. One research analyst gave the stock a hold rating, thirty-four gave the company a buy rating and one gave the company a strong buy rating. According to MarketBeat, Alphabet has an average rating of “Buy” and a consensus price target of $3,251.65.
In other news, major shareholder 2021 Gp LLC Gv purchased 255,647 shares of the company in a transaction that took place on Tuesday, May 10. The shares were acquired at an average price of $34.65 per share, for a total transaction of $8,858,168.55. Following the completion of the acquisition, the insider now directly owns 479,695 shares of the company, valued at $16,621,431.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via the SEC website. Also, director Brin Sergei sold 2,710 shares of the company in a trade dated Wednesday, April 13. The shares were sold at an average price of $2,600.32, for a total value of $7,046,867.20. Following completion of the transaction, the administrator now owns 18,571,041 shares of the company, valued at approximately $48,290,649,333.12. Disclosure of this sale can be found here. In the past 90 days, insiders have sold 8,549 shares of the company valued at $19,920,606. 11.44% of the shares are currently held by company insiders.
Alphabetical stock opened at $2,313.53 on Tuesday. Alphabet Inc. has a 52-week low of $2,037.69 and a 52-week high of $3,030.93. The company has a market capitalization of $1.52 trillion, a P/E ratio of 20.93, a P/E/G ratio of 1.17 and a beta of 1.10. The company has a debt ratio of 0.06, a current ratio of 2.87 and a quick ratio of 2.85. The stock has a fifty-day moving average price of $2,256.04 and a two-hundred-day moving average price of $2,535.83.
Alphabet shares are scheduled to split on Monday, July 18. The 20-1 split was announced on Tuesday, February 1. The newly created shares will be distributed to shareholders after market close on Friday July 15.
Alphabet (NASDAQ: GOOGL – Get a rating) last announced its results on Tuesday, April 26. The information services provider reported earnings per share of $24.62 for the quarter, missing analyst consensus estimates of $25.70 per ($1.08). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. The company posted revenue of $56.02 billion in the quarter, versus analyst estimates of $56.17 billion. In the same quarter last year, the company posted earnings per share of $26.29. On average, equity research analysts expect Alphabet Inc. to post EPS of 110.62 for the current fiscal year.
Alphabetical Profile (Get a rating)
Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, Asia-Pacific, Canada and Latin America. It operates through Google Services, Google Cloud and Other Bets segments. The Google Services segment offers products and services, including Ads, Android, Chrome, Hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search and YouTube.
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