Van Strum & Towne Inc. lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 61,565 shares of the information services provider’s stock after buying an additional 800 shares during the quarter. Alphabet makes up about 3.0% of Van Strum & Towne Inc.’s holdings, making the stock its 10th largest position. Van Strum & Towne Inc.’s holdings in Alphabet were worth $7,369,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in Alphabet by 1,919.4% during 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 buying an additional 453,413,389 shares in the last quarter. State Street Corp boosted its stake in shares of Alphabet by 1,900.6% during the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after acquiring an additional 206,300,042 shares during the last quarter. Moneta Group Investment Advisors LLC increased its position 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 purchasing an additional 170,267,122 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Alphabet by 1,759.2% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock valued at $11,106,502,000 after purchasing an additional 109,870,525 shares during the last quarter. Finally, Norges Bank purchased a new position in Alphabet in the 4th quarter valued at about $8,335,063,000. 35.08% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
GOOGL has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price objective on shares of Alphabet from $126.00 to $129.00 and gave the company an “equal weight” rating in a research report on Thursday, November 16th. Citigroup boosted their price target on Alphabet from $130.00 to $153.00 in a report on Wednesday, July 26th. Monness Crespi & Hardt cut Alphabet from a “buy” rating to a “neutral” rating in a report on Wednesday, October 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $155.00 target price on shares of Alphabet in a research note on Wednesday, October 25th. Finally, Morgan Stanley decreased their price target on Alphabet from $155.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 25th. Five research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $147.00.
Insider Buying and Selling at Alphabet
In related news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $137.30, for a total transaction of $27,460.00. Following the transaction, the director now directly owns 7,584 shares in the company, valued at $1,041,283.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Ann Mather sold 220 shares of the business’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $130.14, for a total transaction of $28,630.80. Following the completion of the sale, the director now owns 4,818 shares of the company’s stock, valued at approximately $627,014.52. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $137.30, for a total transaction of $27,460.00. Following the completion of the transaction, the director now directly owns 7,584 shares in the company, valued at approximately $1,041,283.20. The disclosure for this sale can be found here. Insiders have sold 176,576 shares of company stock worth $23,425,367 over the last quarter. 0.88% of the stock is owned by corporate insiders.
Alphabet Stock Up 0.7 %
GOOGL stock opened at $136.25 on Tuesday. The company has a current ratio of 2.04, a quick ratio of 2.01 and a debt-to-equity ratio of 0.05. The firm has a 50 day simple moving average of $133.42 and a 200-day simple moving average of $127.88. The company has a market capitalization of $1.71 trillion, a P/E ratio of 26.15, a PEG ratio of 1.51 and a beta of 1.05. Alphabet Inc. has a twelve month low of $84.86 and a twelve month high of $141.22.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its earnings results on Tuesday, October 24th. The information services provider reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.10. Alphabet had a net margin of 22.46% and a return on equity of 25.24%. The company had revenue of $64.05 billion during the quarter, compared to the consensus estimate of $63.13 billion. On average, equities research analysts predict that Alphabet Inc. will post 5.74 earnings per share for the current fiscal year.
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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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