Checchi Capital Advisers LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 7.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,736 shares of the information services provider’s stock after selling 3,945 shares during the period. Checchi Capital Advisers LLC’s holdings in Alphabet were worth $6,247,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Alphabet by 1,919.4% in the third quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after purchasing an additional 453,413,389 shares during the period. State Street Corp increased its position in shares of Alphabet by 1,900.6% in the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after buying an additional 206,300,042 shares in the last quarter. Moneta Group Investment Advisors LLC raised its stake in Alphabet by 111,197.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock worth $15,036,178,000 after buying an additional 170,267,122 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Alphabet by 1,759.2% during the third quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock worth $11,106,502,000 after acquiring an additional 109,870,525 shares in the last quarter. Finally, Norges Bank acquired a new position in Alphabet in the fourth quarter valued at about $8,335,063,000. Institutional investors own 35.08% of the company’s stock.
Insider Transactions at Alphabet
In other news, CAO Amie Thuener O’toole sold 420 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $133.32, for a total transaction of $55,994.40. Following the transaction, the chief accounting officer now owns 26,833 shares in the company, valued at $3,577,375.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 420 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $133.32, for a total transaction of $55,994.40. Following the transaction, the chief accounting officer now owns 26,833 shares in the company, valued at approximately $3,577,375.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider John Kent Walker sold 48,076 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $142.20, for a total value of $6,836,407.20. Following the transaction, the insider now owns 12,725 shares in the company, valued at approximately $1,809,495. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 208,350 shares of company stock worth $29,602,709. Company insiders own 0.88% of the company’s stock.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same quarter last year, the company earned $1.05 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post 6.78 earnings per share for the current year.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on the company. Wolfe Research increased their price target on Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. JMP Securities increased their price target on Alphabet from $150.00 to $160.00 and gave the stock a “market outperform” rating in a report on Wednesday, January 31st. Wells Fargo & Company increased their price target on Alphabet from $126.00 to $129.00 and gave the stock an “equal weight” rating in a report on Thursday, November 16th. Wedbush restated an “outperform” rating and issued a $160.00 price target on shares of Alphabet in a report on Wednesday, January 31st. Finally, Rosenblatt Securities lowered their price target on Alphabet from $174.00 to $172.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $153.65.
Read Our Latest Stock Analysis on GOOGL
Alphabet Company Profile
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.
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