Yousif Capital Management LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 715,796 shares of the information services provider’s stock after selling 6,281 shares during the period. Alphabet comprises approximately 1.4% of Yousif Capital Management LLC’s holdings, making the stock its 7th biggest position. Yousif Capital Management LLC’s holdings in Alphabet were worth $126,145,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Alphabet by 2.9% during the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after purchasing an additional 14,307,345 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Alphabet by 11.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock worth $6,783,364,000 after purchasing an additional 4,473,901 shares in the last quarter. Invesco Ltd. grew its position in shares of Alphabet by 1.4% during the first quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock worth $6,749,806,000 after purchasing an additional 593,345 shares in the last quarter. Deutsche Bank AG grew its position in shares of Alphabet by 1.9% during the first quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock worth $6,153,481,000 after purchasing an additional 727,335 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Alphabet by 0.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider’s stock worth $5,962,389,000 after purchasing an additional 104,859 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.
Insiders Place Their Bets
In other news, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the sale, the chief accounting officer directly owned 14,516 shares of the company’s stock, valued at $3,629,725.80. This trade represents a 16.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frances Arnold sold 103 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $243.13, for a total value of $25,042.39. Following the completion of the sale, the director directly owned 17,284 shares of the company’s stock, valued at $4,202,258.92. The trade was a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 246,150 shares of company stock worth $55,805,379. 11.64% of the stock is currently owned by company insiders.
Alphabet Price Performance
NASDAQ:GOOGL opened at $253.08 on Friday. The firm has a market capitalization of $3.06 trillion, a price-to-earnings ratio of 26.95, a PEG ratio of 1.70 and a beta of 1.00. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $257.33. The business has a 50 day simple moving average of $235.60 and a 200-day simple moving average of $194.45. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.16. The business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the company. Piper Sandler increased their target price on Alphabet from $220.00 to $285.00 and gave the stock an “overweight” rating in a research report on Thursday, September 18th. Melius Research increased their target price on Alphabet from $220.00 to $255.00 in a research report on Thursday, September 25th. Jefferies Financial Group increased their target price on Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Roth Capital increased their target price on Alphabet from $210.00 to $265.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Finally, Citizens Jmp increased their price target on Alphabet from $250.00 to $290.00 and gave the company an “outperform” rating in a research note on Friday, September 19th. Four analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $259.12.
View Our Latest Stock Report on GOOGL
Alphabet Company Profile
(Free Report)
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.
Read More
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL – Free Report).
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.
