Procyon Advisors LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 13.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 147,294 shares of the information services provider's stock after purchasing an additional 17,465 shares during the period. Alphabet accounts for 1.7% of Procyon Advisors LLC's portfolio, making the stock its 9th largest holding. Procyon Advisors LLC's holdings in Alphabet were worth $24,418,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of GOOGL. Vanguard Group Inc. increased its holdings in Alphabet by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider's stock valued at $75,144,172,000 after acquiring an additional 4,064,073 shares during the last quarter. Capital Research Global Investors increased its holdings in Alphabet by 14.4% in the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider's stock valued at $8,724,251,000 after acquiring an additional 7,275,757 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Alphabet by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider's stock valued at $9,011,412,000 after acquiring an additional 238,403 shares during the last quarter. Capital World Investors increased its holdings in Alphabet by 1.7% in the 1st quarter. Capital World Investors now owns 35,412,299 shares of the information services provider's stock valued at $5,344,778,000 after acquiring an additional 597,756 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in Alphabet by 1.8% in the 2nd quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider's stock valued at $4,274,184,000 after acquiring an additional 418,204 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Alphabet
In other news, CAO Amie Thuener O'toole sold 682 shares of the company's stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares of the company's stock, valued at $5,264,112. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Alphabet news, CAO Amie Thuener O'toole sold 682 shares of the company's stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now owns 2,182,385 shares in the company, valued at approximately $354,310,204.75. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 220,426 shares of company stock valued at $35,993,340. 11.55% of the stock is owned by company insiders.
Alphabet Trading Down 1.4 %
Shares of GOOGL traded down $2.36 during trading on Wednesday, reaching $162.78. 18,156,785 shares of the company traded hands, compared to its average volume of 26,897,715. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.01 trillion, a PE ratio of 24.97, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The stock has a 50-day simple moving average of $161.87 and a 200-day simple moving average of $168.40. Alphabet Inc. has a twelve month low of $120.21 and a twelve month high of $191.75.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. The business had revenue of $84.74 billion during the quarter, compared to the consensus estimate of $70.60 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the previous year, the firm earned $1.44 EPS. On average, analysts anticipate that Alphabet Inc. will post 7.64 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the stock. DA Davidson initiated coverage on shares of Alphabet in a research note on Tuesday, September 10th. They issued a "neutral" rating and a $170.00 price objective for the company. Guggenheim lifted their price objective on shares of Alphabet from $195.00 to $205.00 and gave the company a "buy" rating in a report on Wednesday, July 24th. UBS Group lifted their price objective on shares of Alphabet from $200.00 to $204.00 and gave the company a "neutral" rating in a report on Wednesday, July 24th. Piper Sandler reiterated an "overweight" rating and set a $200.00 price objective on shares of Alphabet in a report on Monday, September 30th. Finally, Loop Capital reiterated a "hold" rating and set a $170.00 price objective on shares of Alphabet in a report on Wednesday, July 3rd. Eight research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $201.76.
View Our Latest Stock Report on GOOGL
About Alphabet
(
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.
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