Wedge Capital Management LLP NC increased its stake in Alphabet Inc. (NASDAQ:GOOG – Get a rating) by 1.5% in Q1, according to its latest 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 958 shares of the information services provider after acquiring 14 additional shares during the period. Wedge Capital Management LLP NC’s holdings in Alphabet were worth $2,676,000 at the end of the last quarter.
A number of other hedge funds and other institutional investors have also recently changed their positions in the company. BlackRock Inc. increased its stake in Alphabet by 1.1% in the fourth quarter. BlackRock Inc. now owns 19,196,177 shares of the information services provider valued at $55,545,866,000 after acquiring an additional 205,225 shares last quarter. State Street Corp increased its stake in Alphabet by 0.6% in the fourth quarter. State Street Corp now owns 10,608,366 shares of the information services provider valued at $30,696,262,000 after acquiring an additional 58,955 shares last quarter. Geode Capital Management LLC increased its stake in Alphabet by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 4,669,682 shares of the information services provider valued at $13,474,847,000 after acquiring an additional 97,666 shares last quarter. JPMorgan Chase & Co. increased its stake in Alphabet shares by 2.4% during the 4th quarter. JPMorgan Chase & Co. now owns 3,752,343 shares of the information services provider worth $10,857,740,000 after buying an additional 87,144 shares last quarter. Finally, Alliancebernstein LP increased its stake in Alphabet shares by 1.6% during the 4th quarter. Alliancebernstein LP now owns 3,082,944 shares of the information services provider worth $8,920,776,000 after purchasing an additional 48,928 shares last quarter. 31.20% of the shares are held by hedge funds and other institutional investors.
Shares of NASDAQ:GOOG opened at $2,370.76 on Friday. The company’s 50-day simple moving average is $2,298.68 and its two-hundred-day simple moving average is $2,595.91. The company has a market capitalization of $1.56 trillion, a P/E ratio of 21.44, a PEG ratio of 1.09 and a beta of 1.13. The company has a debt ratio of 0.06, a quick ratio of 2.85 and a current ratio of 2.87. Alphabet Inc. has a 52-week low of $2,044.16 and a 52-week high of $3,042.00.
Alphabet shares will split before the market opens on Monday, July 18. The 20-1 split was announced on Tuesday, February 1. The newly created shares will be issued to shareholders after the closing bell on Friday July 15.
Alphabet (NASDAQ:GOOG – Get a rating) last announced its quarterly results on Tuesday, April 26. The information services provider reported earnings per share (EPS) of $24.62 for the quarter, missing the consensus estimate of $25.70 per ($1.08). The company posted revenue of $56.02 billion in the quarter, versus a consensus estimate of $56.17 billion. Alphabet had a return on equity of 30.18% and a net margin of 27.57%. In the same quarter a year earlier, the company posted EPS of $26.29. On average, stock analysts expect Alphabet Inc. to post earnings per share of 110.83 for the current fiscal year.
A number of stock analysts have recently commented on GOOG stocks. Wedbush reissued an “outperforming” rating on Alphabet shares in a Wednesday, April 20 report. Deutsche Bank Aktiengesellschaft lowered its price target on Alphabet from $3,150.00 to $2,900.00 in a report on Wednesday, April 27. Canaccord Genuity Group lowered its target price on Alphabet from $3,500.00 to $3,300.00 and set a “buy” rating for the company in a Wednesday, April 27 report. Oppenheimer reaffirmed an “outperform” rating and issued a target price of $3,290.00 on Alphabet shares in a Thursday, April 28 report. Finally, Raymond James lowered his target price on Alphabet from $3,630.00 to $3,180.00 in a Wednesday, April 27 report. Twenty-nine equity research analysts rated the stock with a buy rating. According to MarketBeat, Alphabet currently has a consensus rating of “Buy” and an average target price of $3,315.38.
In other news, CAD Amie Thuener O’toole sold 42 shares in a trade that took place on Friday, April 1. The stock was sold at an average price of $2,800.20, for a total value of $117,608.40. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC website. Also, please Prabhakar Raghavan sold 1,276 shares in a trade that took place on Monday, April 4. The stock was sold at an average price of $2,816.49, for a total value of $3,593,841.24. Following the completion of the sale, the senior vice president now directly owns 14,034 shares of the company, valued at $39,526,620.66. Disclosure of this sale can be found here. Last quarter, insiders sold 551,675 shares of the company worth $25,567,428. Company insiders hold 12.99% of the company’s stock.
Alphabet Company 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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