William Blair Investment Management LLC decreased its holdings in Alphabet Inc (NASDAQ:GOOG) by 9.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,523 shares of the information services provider’s stock after selling 2,358 shares during the quarter. William Blair Investment Management LLC’s holdings in Alphabet were worth $25,027,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of GOOG. Trexquant Investment LP acquired a new position in Alphabet in the first quarter valued at $1,886,000. Hancock Whitney Corp lifted its holdings in Alphabet by 8.4% in the first quarter. Hancock Whitney Corp now owns 1,703 shares of the information services provider’s stock valued at $1,980,000 after buying an additional 132 shares during the period. Capital Analysts LLC lifted its holdings in Alphabet by 11.4% in the first quarter. Capital Analysts LLC now owns 1,354 shares of the information services provider’s stock valued at $1,574,000 after buying an additional 139 shares during the period. Citizens Financial Group Inc RI lifted its holdings in Alphabet by 21.3% in the first quarter. Citizens Financial Group Inc RI now owns 11,888 shares of the information services provider’s stock valued at $13,823,000 after buying an additional 2,091 shares during the period. Finally, 20 20 Capital Management Inc. lifted its holdings in Alphabet by 39.2% in the first quarter. 20 20 Capital Management Inc. now owns 263 shares of the information services provider’s stock valued at $361,000 after buying an additional 74 shares during the period. 33.61% of the stock is currently owned by institutional investors.
GOOG has been the topic of several recent analyst reports. ValuEngine upgraded shares of Alphabet from a “sell” rating to a “hold” rating in a report on Thursday, March 5th. Nomura Securities upped their price objective on shares of Alphabet from $1,560.00 to $1,680.00 in a report on Tuesday, February 4th. Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, April 29th. Piper Sandler upped their price objective on shares of Alphabet from $1,500.00 to $1,600.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Finally, Raymond James dropped their price objective on shares of Alphabet from $1,580.00 to $1,425.00 and set an “outperform” rating on the stock in a report on Tuesday, April 21st. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $1,580.52.
Shares of Alphabet stock opened at $1,410.42 on Friday. The firm has a market cap of $957.58 billion, a PE ratio of 28.46, a price-to-earnings-growth ratio of 2.10 and a beta of 1.06. Alphabet Inc has a 12-month low of $1,013.54 and a 12-month high of $1,532.11. The company has a quick ratio of 3.64, a current ratio of 3.66 and a debt-to-equity ratio of 0.08. The company’s fifty day simple moving average is $1,284.33 and its two-hundred day simple moving average is $1,331.95.
Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, April 28th. The information services provider reported $9.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $11.27 by ($1.40). Alphabet had a net margin of 20.71% and a return on equity of 17.43%. The business had revenue of $41.16 billion for the quarter, compared to analysts’ expectations of $40.29 billion. During the same period last year, the business earned $9.50 earnings per share. The company’s revenue was up 13.3% on a year-over-year basis. As a group, sell-side analysts expect that Alphabet Inc will post 41.47 earnings per share for the current fiscal year.
In other Alphabet news, CAO Amie Thuener O’toole sold 61 shares of Alphabet stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $1,098.26, for a total value of $66,993.86. Following the completion of the transaction, the chief accounting officer now directly owns 388 shares of the company’s stock, valued at $426,124.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ann Mather sold 31 shares of Alphabet stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $1,352.66, for a total transaction of $41,932.46. Following the completion of the transaction, the director now directly owns 1,119 shares of the company’s stock, valued at $1,513,626.54. The disclosure for this sale can be found here. Insiders sold 325 shares of company stock valued at $409,753 over the last ninety days. Corporate insiders own 12.99% of the company’s stock.
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.
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