Cowen AND Company LLC Buys New Stake in Alphabet Inc. (NASDAQ:GOOGL)

Cowen AND Company LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 25,000 shares of the information services provider’s stock, valued at approximately $3,272,000.

Several other institutional investors and hedge funds also recently bought and sold shares of GOOGL. Vanguard Group Inc. increased its stake in Alphabet by 1,919.4% during the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after buying an additional 453,413,389 shares during the period. State Street Corp increased its position in shares of Alphabet by 0.8% in the 2nd quarter. State Street Corp now owns 218,540,033 shares of the information services provider’s stock valued at $26,159,242,000 after purchasing an additional 1,666,205 shares during the last quarter. Moneta Group Investment Advisors LLC increased its position in shares of Alphabet by 111,197.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock valued at $15,036,178,000 after purchasing an additional 170,267,122 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Alphabet by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 121,308,289 shares of the information services provider’s stock valued at $14,481,781,000 after purchasing an additional 2,731,671 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Alphabet by 1,759.2% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock valued at $11,106,502,000 after purchasing an additional 109,870,525 shares during the last quarter. 35.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of recent research reports. Wells Fargo & Company increased their price target on shares of Alphabet from $126.00 to $129.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 16th. Wolfe Research raised their target price on shares of Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. KeyCorp raised their target price on shares of Alphabet from $153.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, January 29th. Truist Financial cut their price target on shares of Alphabet from $160.00 to $158.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. Finally, Citigroup increased their price target on shares of Alphabet from $153.00 to $168.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $153.65.

Check Out Our Latest Report on Alphabet

Alphabet Stock Performance

Shares of GOOGL stock opened at $144.09 on Friday. Alphabet Inc. has a one year low of $88.57 and a one year high of $153.78. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The company has a 50 day moving average price of $142.67 and a 200 day moving average price of $136.51. The firm has a market capitalization of $1.80 trillion, a price-to-earnings ratio of 24.84, a price-to-earnings-growth ratio of 1.30 and a beta of 1.06.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm had revenue of $86.31 billion during the quarter, compared to analyst estimates of $70.77 billion. During the same quarter in the prior year, the business posted $1.05 earnings per share. Sell-side analysts anticipate that Alphabet Inc. will post 6.77 EPS for the current year.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 48,076 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $142.20, for a total transaction of $6,836,407.20. Following the completion of the sale, the insider now directly owns 12,725 shares in the company, valued at $1,809,495. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $136.40, for a total value of $31,372.00. Following the completion of the transaction, the director now directly owns 14,515 shares in the company, valued at $1,979,846. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 48,076 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $142.20, for a total transaction of $6,836,407.20. Following the completion of the transaction, the insider now owns 12,725 shares of the company’s stock, valued at $1,809,495. The disclosure for this sale can be found here. Insiders sold a total of 208,350 shares of company stock worth $29,602,709 over the last ninety days. 0.88% of the stock is owned by company insiders.

Alphabet Profile

(Free Report)

Alphabet Inc offers 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 provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Read More

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.