Alphabet Inc. (NASDAQ:GOOG) Shares Bought by State Street Corp
State Street Corp boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 0.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,067,675 shares of the information services provider’s stock after buying an additional 36,864 shares during the period. Alphabet comprises 0.9% of State Street Corp’s holdings, making the stock its 19th largest position. State Street Corp’s holdings in Alphabet were worth $10,010,859,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of GOOG. Pacific Center for Financial Services purchased a new stake in shares of Alphabet during the fourth quarter worth $142,000. Feltz Wealth PLAN Inc. bought a new position in shares of Alphabet during the first quarter worth about $170,000. Israel Discount Bank of New York GFN bought a new position in shares of Alphabet during the fourth quarter worth about $166,000. Pinnacle Bank bought a new position in shares of Alphabet during the first quarter worth about $181,000. Finally, Palo Capital Inc. bought a new position in shares of Alphabet during the first quarter worth about $202,000. 34.54% of the stock is owned by institutional investors and hedge funds.
Alphabet Inc. (NASDAQ GOOG) traded up 0.79% during midday trading on Friday, reaching $914.39. The company’s stock had a trading volume of 1,206,782 shares. The company’s 50-day moving average is $936.66 and its 200 day moving average is $889.11. Alphabet Inc. has a 52 week low of $727.54 and a 52 week high of $988.25. The firm has a market capitalization of $633.56 billion, a P/E ratio of 33.14 and a beta of 0.94.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Monday, July 24th. The information services provider reported $5.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.43 by $0.58. Alphabet had a net margin of 19.49% and a return on equity of 13.66%. The company had revenue of $26.01 billion during the quarter, compared to the consensus estimate of $25.61 billion. During the same period last year, the firm earned $8.42 EPS. The company’s revenue for the quarter was up 21.0% on a year-over-year basis. Analysts expect that Alphabet Inc. will post $30.59 earnings per share for the current fiscal year.
A number of research analysts have recently issued reports on the company. UBS AG reiterated a “buy” rating and issued a $1,050.00 price target (up from $980.00) on shares of Alphabet in a report on Friday, April 28th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $1,050.00 price target on shares of Alphabet in a report on Wednesday. MKM Partners reiterated a “buy” rating and issued a $1,210.00 price target (up from $1,170.00) on shares of Alphabet in a report on Thursday. Cowen and Company reiterated an “outperform” rating and issued a $1,075.00 price target on shares of Alphabet in a report on Thursday. Finally, Moffett Nathanson reiterated a “buy” rating on shares of Alphabet in a report on Friday, June 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, forty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $1,026.22.
In related news, Director Shirley M. Tilghman sold 525 shares of Alphabet stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $938.09, for a total transaction of $492,497.25. Following the completion of the transaction, the director now directly owns 5,517 shares in the company, valued at approximately $5,175,442.53. The sale 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, May 17th. The stock was sold at an average price of $937.92, for a total value of $3,751,680.00. Following the transaction, the chief executive officer now owns 1,830 shares of the company’s stock, valued at $1,716,393.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,968 shares of company stock valued at $42,387,042. Insiders own 13.92% of the company’s stock.
Alphabet Company Profile
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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