Avantax Advisory Services Inc. raised its position in Alphabet Inc (NASDAQ:GOOG) by 14.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,813 shares of the information services provider’s stock after purchasing an additional 469 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Alphabet were worth $4,413,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Norges Bank bought a new stake in shares of Alphabet during the 4th quarter worth about $2,325,502,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Alphabet by 17.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,462,119 shares of the information services provider’s stock worth $1,700,167,000 after acquiring an additional 218,275 shares in the last quarter. Baillie Gifford & Co. boosted its stake in shares of Alphabet by 9.2% during the 4th quarter. Baillie Gifford & Co. now owns 2,515,209 shares of the information services provider’s stock worth $3,362,886,000 after acquiring an additional 211,618 shares in the last quarter. Amundi Pioneer Asset Management Inc. lifted its position in shares of Alphabet by 26.3% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 861,941 shares of the information services provider’s stock worth $1,152,433,000 after purchasing an additional 179,524 shares during the last quarter. Finally, Johanson Financial Advisors Inc. acquired a new position in shares of Alphabet during the 4th quarter worth about $105,000. Hedge funds and other institutional investors own 33.53% of the company’s stock.
Several equities analysts recently weighed in on GOOG shares. Sanford C. Bernstein started coverage on Alphabet in a research report on Thursday, January 9th. They set an “outperform” rating for the company. BidaskClub raised Alphabet from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, April 29th. Zacks Investment Research cut Alphabet from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Raymond James cut their price target on Alphabet from $1,580.00 to $1,425.00 and set an “outperform” rating for the company in a report on Tuesday, April 21st. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $1,576.95.
In related news, major shareholder Capitalg Lp sold 830,211 shares of the business’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $65.53, for a total value of $54,403,726.83. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 45 shares of the company’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $1,151.24, for a total transaction of $51,805.80. Following the transaction, the director now owns 32 shares in the company, valued at approximately $36,839.68. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,820,403 shares of company stock worth $119,179,685. Insiders own 12.99% of the company’s stock.
GOOG traded down $7.88 during trading on Monday, hitting $1,312.73. 44,613 shares of the stock traded hands, compared to its average volume of 2,089,346. Alphabet Inc has a twelve month low of $1,013.54 and a twelve month high of $1,532.11. The company has a market cap of $907.64 billion, a price-to-earnings ratio of 26.43, a PEG ratio of 1.97 and a beta of 1.06. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.66 and a quick ratio of 3.64. The business has a 50 day moving average price of $1,189.64 and a 200 day moving average price of $1,320.25.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, April 28th. The information services provider reported $9.87 EPS for the quarter, missing the consensus estimate of $11.27 by ($1.40). Alphabet had a net margin of 20.71% and a return on equity of 17.43%. The firm had revenue of $41.16 billion for the quarter, compared to analyst estimates of $40.29 billion. During the same quarter in the prior year, the firm earned $9.50 earnings per share. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, equities research analysts predict that Alphabet Inc will post 41.61 earnings per share for the current year.
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.
See Also: Why do companies engage in swaps?
Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc (NASDAQ:GOOG).
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.