Octavia Wealth Advisors LLC increased its stake in Alphabet Inc. (NASDAQ: GOOG – Get Rating) by 4.4% during the 1st quarter, reports Holdings Channel. The company held 974 shares of the information services provider after purchasing an additional 41 shares during the period. Octavia Wealth Advisors LLC’s holdings in Alphabet were worth $2,720,000 at the end of the last quarter.
Several other hedge funds and other institutional investors also bought and sold shares of GOOG. Norges Bank bought a new stake in Alphabet stock in the fourth quarter for a value of approximately $2,249,092,000. TD Asset Management Inc. increased its stake in Alphabet shares by 62.0% in the fourth quarter. TD Asset Management Inc. now owns 890,592 shares of the information services provider worth $2,577,008,000 after purchasing an additional 340,733 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Alphabet in the fourth quarter worth approximately $754,814,000. SkyView Investment Advisors LLC increased its stake in Alphabet by 20,160.8% in the fourth quarter. SkyView Investment Advisors LLC now owns 240,901 shares of the information services provider worth $3,848,000 after purchasing an additional 239,712 shares during the period. Finally, 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 worth $55,545,866,000 after purchasing an additional 205,225 shares during the period. 31.20% of the shares are currently held by institutional investors.
Several analysts have commented on the title. JPMorgan Chase & Co. lowered its price target on Alphabet shares from $3,450.00 to $3,200.00 in a Wednesday, April 27 report. Wedbush reiterated an “outperforming” rating on Alphabet shares in a report on Wednesday, April 20. Raymond James cut his price target on Alphabet shares from $3,630.00 to $3,180.00 in a report on Wednesday, April 27. Oppenheimer reaffirmed an “outperform” rating and issued a target price of $3,290.00 on Alphabet shares in a research report on Thursday, April 28. Finally, Tigress Financial raised its price target on Alphabet shares from $3,540.00 to $3,670.00 in a Friday, March 18 research note. Twenty-nine investment analysts have rated the stock with a buy rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $3,315.38.
NASDAQ: GOOG opened at $2,181.62 on Monday. The company has a market capitalization of $1.44 trillion, a P/E ratio of 19.73, a PEG ratio of 1.07 and a beta of 1.09. Alphabet Inc. has a 1-year low of $2,044.16 and a 1-year high of $3,042.00. The company’s fifty-day moving average price is $2,270.13 and its 200-day moving average price is $2,566.35. The company has a debt ratio of 0.06, a current ratio of 2.87 and a quick ratio of 2.85.
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 the closing bell on Friday July 15.
Alphabet (NASDAQ:GOOG – Get Rating) last released its quarterly earnings data 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). The company posted revenue of $56.02 billion in the quarter, versus analyst estimates of $56.17 billion. Alphabet had a return on equity of 30.18% and a net margin of 27.57%. During the same quarter of the previous year, the company achieved EPS of $26.29. Equity analysts expect Alphabet Inc. to post EPS of 110.62 for the current fiscal year.
Separately, 2016 major shareholder Gp LLC Gv sold 544,249 shares of the company in a transaction on Monday, April 11. The shares were sold at an average price of $11.16, for a total transaction of $6,073,818.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. Additionally, 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 purchased at an average price of $34.65 per share, for a total transaction of $8,858,168.55. Following the transaction, the insider now owns 479,695 shares of the company, valued at approximately $16,621,431.75. Disclosure of this purchase can be found here. Insiders sold 551,528 shares of the company worth $24,397,562 during the last quarter. Insiders of the company own 12.99% of the shares of the company.
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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