IQ EQ FUND MANAGEMENT IRELAND Ltd Boosts Stake in Alphabet Inc. $GOOG

IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 40.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,030 shares of the information services provider’s stock after purchasing an additional 3,760 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Alphabet were worth $2,311,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Alphabet by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider’s stock worth $64,299,725,000 after acquiring an additional 9,687,855 shares in the last quarter. Kingstone Capital Partners Texas LLC lifted its holdings in Alphabet by 580,897.4% during the second quarter. Kingstone Capital Partners Texas LLC now owns 135,087,705 shares of the information services provider’s stock valued at $23,963,208,000 after purchasing an additional 135,064,454 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Alphabet by 9.9% in the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider’s stock worth $15,971,861,000 after purchasing an additional 9,243,959 shares during the period. Deutsche Bank AG increased its stake in shares of Alphabet by 5.4% in the first quarter. Deutsche Bank AG now owns 21,345,784 shares of the information services provider’s stock worth $3,334,852,000 after purchasing an additional 1,098,996 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Alphabet by 2.2% during the 1st quarter. Invesco Ltd. now owns 20,380,073 shares of the information services provider’s stock valued at $3,183,979,000 after purchasing an additional 440,526 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOG opened at $275.17 on Thursday. The business’s 50-day moving average is $241.46 and its 200 day moving average is $199.27. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $275.97. The company has a market capitalization of $3.33 trillion, a P/E ratio of 29.30, a P/E/G ratio of 1.81 and a beta of 1.00. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.During the same period in the prior year, the business posted $2.12 EPS. The company’s quarterly revenue was up 15.9% on a year-over-year basis. On average, equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $245.00, for a total value of $680,610.00. Following the sale, the chief accounting officer owned 17,293 shares in the company, valued at approximately $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the transaction, the chief executive officer owned 2,397,392 shares of the company’s stock, valued at $598,149,304. This trade represents a 1.34% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 246,150 shares of company stock valued at $55,805,379. 12.99% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Alphabet from $260.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday. Morgan Stanley upped their price objective on Alphabet from $210.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. 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. Weiss Ratings reissued a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Finally, Roth Capital restated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $297.56.

About Alphabet

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.