First Eagle Investment Management LLC raised its position in shares of Alphabet Inc (NASDAQ:GOOG) by 0.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 234,224 shares of the information services provider’s stock after buying an additional 305 shares during the period. First Eagle Investment Management LLC’s holdings in Alphabet were worth $279,539,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of Alphabet by 1.3% during the third quarter. BlackRock Inc. now owns 19,492,447 shares of the information services provider’s stock valued at $23,263,651,000 after purchasing an additional 246,674 shares during the last quarter. FMR LLC grew its stake in shares of Alphabet by 1.8% during the third quarter. FMR LLC now owns 11,512,271 shares of the information services provider’s stock valued at $13,739,550,000 after purchasing an additional 202,765 shares during the last quarter. Northern Trust Corp grew its stake in shares of Alphabet by 0.6% during the second quarter. Northern Trust Corp now owns 4,038,140 shares of the information services provider’s stock valued at $4,505,150,000 after purchasing an additional 22,736 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Alphabet by 3.1% during the third quarter. Bank of New York Mellon Corp now owns 3,757,168 shares of the information services provider’s stock valued at $4,484,069,000 after purchasing an additional 112,573 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Alphabet by 1.4% during the third quarter. Janus Henderson Group PLC now owns 3,381,025 shares of the information services provider’s stock valued at $4,035,524,000 after purchasing an additional 45,174 shares during the last quarter. 34.12% of the stock is owned by institutional investors.
A number of brokerages have issued reports on GOOG. Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a research note on Wednesday. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Alphabet in a research note on Tuesday. UBS Group reaffirmed a “buy” rating on shares of Alphabet in a research note on Tuesday. Deutsche Bank reaffirmed a “buy” rating and issued a $1,380.00 price objective (up from $1,300.00) on shares of Alphabet in a research note on Tuesday. Finally, Piper Jaffray Companies raised their price objective on shares of Alphabet from $1,250.00 to $1,355.00 and gave the company an “overweight” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-nine have assigned a buy rating to the company’s stock. Alphabet currently has an average rating of “Buy” and a consensus target price of $1,327.66.
In other news, Director L John Doerr sold 11,908 shares of Alphabet stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $1,049.76, for a total transaction of $12,500,542.08. Following the transaction, the director now directly owns 3,485 shares of the company’s stock, valued at $3,658,413.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP David C. Drummond sold 5,690 shares of Alphabet stock in a transaction on Monday, November 12th. The stock was sold at an average price of $1,065.50, for a total transaction of $6,062,695.00. Following the transaction, the senior vice president now directly owns 42,558 shares in the company, valued at $45,345,549. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,495 shares of company stock worth $83,512,036. Insiders own 13.11% of the company’s stock.
Shares of NASDAQ GOOG opened at $1,095.06 on Friday. The firm has a market cap of $762.03 billion, a PE ratio of 23.47 and a beta of 1.06. Alphabet Inc has a twelve month low of $970.11 and a twelve month high of $1,273.89. The company has a current ratio of 3.92, a quick ratio of 4.10 and a debt-to-equity ratio of 0.02.
Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Monday, February 4th. The information services provider reported $12.77 earnings per share for the quarter, topping analysts’ consensus estimates of $10.86 by $1.91. The company had revenue of $39.28 billion for the quarter, compared to analysts’ expectations of $38.91 billion. Alphabet had a net margin of 22.47% and a return on equity of 19.94%. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period last year, the firm posted $9.70 earnings per share.
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Alphabet Company Profile
Alphabet Inc, through its subsidiaries, provides online advertising services in the United States and internationally. The company offers performance and brand advertising services. It operates through Google and Other Bets segments. The Google segment includes principal Internet products, such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure and newer efforts, including Virtual Reality.
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