ICICI Prudential Asset Management Co Ltd lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 20.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 128,640 shares of the information services provider’s stock after buying an additional 22,195 shares during the quarter. Alphabet comprises 2.1% of ICICI Prudential Asset Management Co Ltd’s holdings, making the stock its 10th biggest position. ICICI Prudential Asset Management Co Ltd’s holdings in Alphabet were worth $18,129,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of GOOG. Tolleson Wealth Management Inc. acquired a new position in Alphabet in the second quarter valued at about $411,000. Westshore Wealth LLC raised its stake in Alphabet by 31.2% in the second quarter. Westshore Wealth LLC now owns 15,700 shares of the information services provider’s stock valued at $1,887,000 after purchasing an additional 3,730 shares in the last quarter. Washington Trust Bank raised its stake in Alphabet by 33.0% in the third quarter. Washington Trust Bank now owns 7,359 shares of the information services provider’s stock valued at $970,000 after purchasing an additional 1,826 shares in the last quarter. Woodley Farra Manion Portfolio Management Inc. raised its stake in Alphabet by 20.0% in the second quarter. Woodley Farra Manion Portfolio Management Inc. now owns 5,986 shares of the information services provider’s stock valued at $724,000 after purchasing an additional 996 shares in the last quarter. Finally, CNB Bank raised its stake in Alphabet by 6.6% in the third quarter. CNB Bank now owns 27,723 shares of the information services provider’s stock valued at $3,655,000 after purchasing an additional 1,710 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.
Insider Transactions at Alphabet
In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the transaction, the chief executive officer now owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ruth Porat sold 48,077 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the transaction, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The disclosure for this sale can be found here. Insiders have sold 263,312 shares of company stock valued at $37,268,315 over the last ninety days. 12.99% of the stock is owned by company insiders.
Alphabet Price Performance
Alphabet stock opened at $152.26 on Monday. The stock has a market capitalization of $1.89 trillion, a price-to-earnings ratio of 26.25, a PEG ratio of 1.41 and a beta of 1.05. Alphabet Inc. has a 52-week low of $100.29 and a 52-week high of $155.20. The stock’s 50 day moving average price is $144.98 and its two-hundred day moving average price is $139.60. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10.
Alphabet (NASDAQ:GOOG – Get Free Report) last posted its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $85.28 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.05 EPS. On average, equities analysts predict that Alphabet Inc. will post 6.77 earnings per share for the current year.
Analyst Ratings Changes
GOOG has been the subject of a number of analyst reports. Susquehanna boosted their price target on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Raymond James boosted their target price on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $146.33.
Check Out Our Latest Report on GOOG
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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