DAVENPORT & Co LLC Has $106.99 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)


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DAVENPORT & Co LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 1.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 51,718 shares of the information services provider’s stock after selling 810 shares during the quarter. Alphabet accounts for about 1.0% of DAVENPORT & Co LLC’s holdings, making the stock its 27th biggest position. DAVENPORT & Co LLC’s holdings in Alphabet were worth $106,985,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in GOOG. Captrust Financial Advisors increased its stake in shares of Alphabet by 6.5% during the 4th quarter. Captrust Financial Advisors now owns 14,964 shares of the information services provider’s stock worth $26,215,000 after purchasing an additional 912 shares during the last quarter. First National Bank of Hutchinson acquired a new position in Alphabet in the 4th quarter valued at $2,214,000. Brave Asset Management Inc. grew its stake in Alphabet by 2.4% in the 1st quarter. Brave Asset Management Inc. now owns 2,706 shares of the information services provider’s stock valued at $5,598,000 after buying an additional 64 shares during the last quarter. Reby Advisors LLC acquired a new position in Alphabet in the 4th quarter valued at $238,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in Alphabet by 5,763.0% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 49,660 shares of the information services provider’s stock valued at $86,998,000 after buying an additional 48,813 shares during the last quarter. Hedge funds and other institutional investors own 31.94% of the company’s stock.

In other news, CAO Amie Thuener O’toole sold 30 shares of Alphabet stock in a transaction that occurred on Monday, April 5th. The shares were sold at an average price of $2,152.94, for a total transaction of $64,588.20. Following the completion of the sale, the chief accounting officer now owns 966 shares in the company, valued at approximately $2,079,740.04. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 70 shares of Alphabet stock in a transaction that occurred on Monday, February 8th. The stock was sold at an average price of $2,085.54, for a total transaction of $145,987.80. Following the sale, the director now owns 41 shares of the company’s stock, valued at approximately $85,507.14. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,131 shares of company stock valued at $43,393,845. 12.99% of the stock is owned by corporate insiders.

GOOG has been the subject of a number of research reports. The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a report on Wednesday, February 3rd. Canaccord Genuity increased their price target on shares of Alphabet from $2,400.00 to $2,600.00 and gave the company a “buy” rating in a report on Monday, April 26th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Alphabet from $2,600.00 to $3,050.00 and gave the stock a “buy” rating in a report on Wednesday, April 28th. Piper Sandler raised their price objective on shares of Alphabet from $2,250.00 to $2,635.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Credit Suisse Group raised their price objective on shares of Alphabet from $2,500.00 to $2,755.00 and gave the stock an “outperform” rating in a report on Tuesday. One equities research analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $2,495.63.

GOOG opened at $2,395.17 on Tuesday. The company has a current ratio of 3.41, a quick ratio of 3.39 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $1.61 trillion, a PE ratio of 46.28, a PEG ratio of 1.66 and a beta of 0.98. Alphabet Inc. has a 1-year low of $1,299.00 and a 1-year high of $2,452.38. The firm has a 50-day moving average price of $2,201.27 and a two-hundred day moving average price of $1,928.06.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Monday, April 26th. The information services provider reported $26.29 earnings per share for the quarter, beating the consensus estimate of $15.74 by $10.55. Alphabet had a net margin of 20.80% and a return on equity of 17.31%. The firm had revenue of $55.30 billion during the quarter, compared to analysts’ expectations of $51.40 billion. During the same quarter last year, the company posted $9.87 EPS. The company’s quarterly revenue was up 34.4% compared to the same quarter last year. On average, research analysts predict that Alphabet Inc. will post 52.19 EPS for the current year.

About Alphabet

Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. The company offers performance and brand advertising services. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, such as ads, Android, Chrome, hardware, Google Maps, Google Play, Search, and YouTube, as well as technical infrastructure; and digital content.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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