Meixler Investment Management Ltd. grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 4.2% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 222 shares of the information services provider’s stock after purchasing an additional 9 shares during the quarter. Meixler Investment Management Ltd.’s holdings in Alphabet were worth $617,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. State Street Corp increased its position in Alphabet by 1.4% in the fourth quarter. State Street Corp now owns 11,252,792 shares of the information services provider’s stock worth $32,599,789,000 after purchasing an additional 157,280 shares during the last quarter. Geode Capital Management LLC increased its position in Alphabet by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 5,322,633 shares of the information services provider’s stock worth $15,381,257,000 after purchasing an additional 116,084 shares during the last quarter. Norges Bank bought a new stake in Alphabet in the fourth quarter worth $14,477,662,000. Massachusetts Financial Services Co. MA increased its position in Alphabet by 0.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,825,959 shares of the information services provider’s stock worth $8,186,916,000 after purchasing an additional 20,120 shares during the last quarter. Finally, Invesco Ltd. increased its position in Alphabet by 14.1% in the fourth quarter. Invesco Ltd. now owns 2,292,059 shares of the information services provider’s stock worth $6,640,190,000 after purchasing an additional 283,907 shares during the last quarter. Hedge funds and other institutional investors own 41.70% of the company’s stock.
In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv bought 13,528 shares of the firm’s stock in a transaction dated Tuesday, May 24th. The shares were purchased at an average price of $33.72 per share, for a total transaction of $456,164.16. Following the transaction, the insider now directly owns 593,402 shares of the company’s stock, valued at approximately $20,009,515.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder 2016 Gp L.L.C. Gv sold 544,249 shares of the stock in a transaction that occurred on Monday, April 11th. The shares were sold at an average price of $11.16, for a total value of $6,073,818.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 555,362 shares of company stock worth $32,765,727. Insiders own 11.44% of the company’s stock.
Several equities research analysts recently weighed in on the stock. Canaccord Genuity Group reduced their price target on shares of Alphabet from $3,500.00 to $3,300.00 and set a “buy” rating on the stock in a research report on Wednesday, April 27th. JPMorgan Chase & Co. dropped their price objective on shares of Alphabet from $3,200.00 to $2,800.00 and set an “overweight” rating for the company in a research note on Wednesday, June 29th. Wells Fargo & Company dropped their price objective on shares of Alphabet from $3,600.00 to $3,400.00 in a research note on Wednesday, April 27th. StockNews.com lowered shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Friday, April 29th. Finally, Wedbush dropped their price objective on shares of Alphabet from $3,800.00 to $3,113.00 in a research note on Wednesday, April 27th. One equities research analyst has rated the stock with a hold rating, thirty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $3,251.65.
Shares of NASDAQ:GOOGL opened at $2,387.07 on Friday. Alphabet Inc. has a twelve month low of $2,037.69 and a twelve month high of $3,030.93. The company’s 50 day moving average is $2,256.40 and its 200 day moving average is $2,543.02. The company has a current ratio of 2.87, a quick ratio of 2.85 and a debt-to-equity ratio of 0.06. The company has a market cap of $1.57 trillion, a PE ratio of 21.59, a price-to-earnings-growth ratio of 1.16 and a beta of 1.10.
Alphabet shares are going to split before the market opens on Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly created shares will be distributed to shareholders after the closing bell on Friday, July 15th.
Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings results on Tuesday, April 26th. The information services provider reported $24.62 earnings per share for the quarter, missing the consensus estimate of $25.70 by ($1.08). Alphabet had a return on equity of 30.18% and a net margin of 27.57%. The business had revenue of $56.02 billion during the quarter, compared to analyst estimates of $56.17 billion. During the same quarter last year, the company posted $26.29 EPS. Equities research analysts predict that Alphabet Inc. will post 110.62 earnings per share for the current fiscal year.
Alphabet Profile (Get Rating)
Alphabet Inc provides 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 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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