Brandes Investment Partners LP Boosts Holdings in Alphabet Inc. (NASDAQ:GOOG)

Brandes Investment Partners LP increased its holdings in Alphabet Inc. (NASDAQ:GOOGGet Rating) by 5.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,902 shares of the information services provider’s stock after buying an additional 377 shares during the quarter. Brandes Investment Partners LP’s holdings in Alphabet were worth $19,277,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in Alphabet by 1.1% during the fourth quarter. BlackRock Inc. now owns 19,196,177 shares of the information services provider’s stock valued at $55,545,866,000 after purchasing an additional 205,225 shares in the last quarter. State Street Corp lifted its holdings in Alphabet by 0.6% during the fourth quarter. State Street Corp now owns 10,608,366 shares of the information services provider’s stock valued at $30,696,262,000 after purchasing an additional 58,955 shares in the last quarter. Aaron Wealth Advisors LLC lifted its holdings in Alphabet by 492,443.2% during the first quarter. Aaron Wealth Advisors LLC now owns 6,476,943 shares of the information services provider’s stock valued at $2,319,000 after purchasing an additional 6,475,628 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Alphabet by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 4,669,682 shares of the information services provider’s stock valued at $13,474,847,000 after purchasing an additional 97,666 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Alphabet by 2.4% during the fourth quarter. JPMorgan Chase & Co. now owns 3,752,343 shares of the information services provider’s stock valued at $10,857,740,000 after purchasing an additional 87,144 shares in the last quarter. Hedge funds and other institutional investors own 31.20% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder 2021 Gp L.L.C. Gv acquired 13,528 shares of the business’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 completion of the acquisition, the insider now directly owns 593,402 shares in the company, valued at approximately $20,009,515.44. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Ann Mather sold 20 shares of the company’s stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $2,383.32, for a total transaction of $47,666.40. Following the transaction, the director now owns 565 shares in the company, valued at $1,346,575.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv acquired 13,528 shares of the business’s stock in a transaction dated Tuesday, May 24th. The shares were bought at an average price of $33.72 per share, for a total transaction of $456,164.16. Following the acquisition, the insider now owns 593,402 shares of the company’s stock, valued at $20,009,515.44. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 42,852 shares of company stock worth $15,750,955. 12.99% of the stock is owned by corporate insiders.

Alphabet Stock Down 1.3 %

NASDAQ:GOOG traded down $1.64 during mid-day trading on Wednesday, reaching $120.87. The company’s stock had a trading volume of 495,817 shares, compared to its average volume of 24,463,514. Alphabet Inc. has a 1 year low of $102.21 and a 1 year high of $152.10. The stock has a fifty day moving average of $156.92 and a 200-day moving average of $138.00. The firm has a market capitalization of $1.59 trillion, a PE ratio of 22.45, a price-to-earnings-growth ratio of 1.98 and a beta of 1.07. The company has a quick ratio of 2.78, a current ratio of 2.81 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGGet Rating) last announced its earnings results on Tuesday, July 26th. The information services provider reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $26.24 by ($25.03). Alphabet had a return on equity of 28.65% and a net margin of 25.89%. During the same quarter in the prior year, the company earned $27.26 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 5.22 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on GOOG. Citigroup reduced their price objective on shares of Alphabet from $158.75 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, July 14th. Susquehanna Bancshares reduced their price objective on shares of Alphabet from $187.00 to $150.00 in a research report on Wednesday, July 27th. Cowen reduced their price objective on shares of Alphabet from $300.00 to $150.00 in a research report on Monday, July 25th. Canaccord Genuity Group reduced their price objective on shares of Alphabet from $175.00 to $165.00 and set a “buy” rating on the stock in a research report on Wednesday, April 27th. Finally, Guggenheim reduced their price objective on shares of Alphabet to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 27th. One research analyst has rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $158.40.

Alphabet Company Profile

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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.

See Also

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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