BTIM Corp. raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 3.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 106,414 shares of the information services provider’s stock after buying an additional 3,806 shares during the period. Alphabet comprises about 1.4% of BTIM Corp.’s holdings, making the stock its 5th largest position. BTIM Corp.’s holdings in Alphabet were worth $88,277,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of GOOG. Shepherd Financial Partners LLC purchased a new stake in Alphabet during the fourth quarter worth $3,291,000. Lyell Wealth Management LP purchased a new stake in Alphabet during the fourth quarter worth $2,134,000. State Street Corp increased its stake in Alphabet by 2.5% in the fourth quarter. State Street Corp now owns 12,030,811 shares of the information services provider’s stock worth $9,285,625,000 after buying an additional 290,691 shares during the last quarter. Aviva PLC increased its stake in Alphabet by 5.2% in the fourth quarter. Aviva PLC now owns 190,746 shares of the information services provider’s stock worth $147,357,000 after buying an additional 9,363 shares during the last quarter. Finally, Worth Venture Partners LLC purchased a new stake in Alphabet during the fourth quarter worth $1,532,000. Hedge funds and other institutional investors own 35.04% of the company’s stock.
Alphabet Inc. (NASDAQ GOOG) opened at 965.59 on Friday. The stock’s 50 day moving average price is $948.74 and its 200-day moving average price is $852.55. The company has a market cap of $667.94 billion, a price-to-earnings ratio of 32.63 and a beta of 0.94. Alphabet Inc. has a 52 week low of $663.28 and a 52 week high of $988.25.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 27th. The information services provider reported $7.73 EPS for the quarter, topping analysts’ consensus estimates of $7.38 by $0.35. The company had revenue of $24.75 billion for the quarter, compared to analysts’ expectations of $24.18 billion. Alphabet had a net margin of 21.84% and a return on equity of 15.16%. Alphabet’s revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $7.50 EPS. On average, equities research analysts forecast that Alphabet Inc. will post $33.91 earnings per share for the current fiscal year.
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GOOG has been the subject of a number of recent research reports. Morgan Stanley restated a “buy” rating on shares of Alphabet in a research report on Thursday, March 9th. Mizuho restated a “buy” rating and set a $1,024.00 target price on shares of Alphabet in a research report on Thursday, March 23rd. Vetr upgraded Alphabet from a “hold” rating to a “buy” rating and set a $891.70 target price for the company in a research report on Monday, March 20th. Instinet dropped their target price on Alphabet from $950.00 to $925.00 and set a “buy” rating for the company in a research report on Tuesday, March 28th. Finally, Aegis restated a “buy” rating and set a $1,011.00 target price on shares of Alphabet in a research report on Sunday, April 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and forty have given a buy rating to the company’s stock. Alphabet has an average rating of “Buy” and a consensus price target of $988.37.
In related news, SVP David C. Drummond sold 2,000 shares of Alphabet stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $948.90, for a total value of $1,897,800.00. Following the sale, the senior vice president now owns 2,800 shares of the company’s stock, valued at approximately $2,656,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 4,000 shares of Alphabet stock in a transaction that occurred on Wednesday, April 5th. The stock was sold at an average price of $837.31, for a total transaction of $3,349,240.00. Following the completion of the sale, the chief executive officer now directly owns 2,351 shares in the company, valued at approximately $1,968,515.81. The disclosure for this sale can be found here. Insiders sold a total of 46,085 shares of company stock worth $42,307,001 in the last ninety days. 13.92% of the stock is currently owned by insiders.
Alphabet Inc is a holding company. The Company’s businesses include Google Inc (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X. The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
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