Alphabet Inc. (NASDAQ:GOOG) Stock Holdings Lifted by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGGet Rating) by 7.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 113,130 shares of the information services provider’s stock after purchasing an additional 7,758 shares during the period. Alphabet makes up about 2.8% of Gateway Investment Advisers LLC’s holdings, making the stock its 4th largest holding. Gateway Investment Advisers LLC’s holdings in Alphabet were worth $247,466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Alphabet by 0.7% during the first quarter. Vanguard Group Inc. now owns 21,192,982 shares of the information services provider’s stock worth $59,191,787,000 after purchasing an additional 157,098 shares during the period. BlackRock Inc. increased its holdings in shares of Alphabet by 1.1% during the 4th quarter. BlackRock Inc. now owns 19,196,177 shares of the information services provider’s stock worth $55,545,866,000 after buying an additional 205,225 shares during the last quarter. State Street Corp raised its position in shares of Alphabet by 0.6% during the 4th quarter. State Street Corp now owns 10,608,366 shares of the information services provider’s stock valued at $30,696,262,000 after buying an additional 58,955 shares during the period. Aaron Wealth Advisors LLC lifted its holdings in Alphabet by 492,443.2% in the first quarter. Aaron Wealth Advisors LLC now owns 6,476,943 shares of the information services provider’s stock valued at $2,319,000 after acquiring an additional 6,475,628 shares during the last quarter. Finally, Capital World Investors grew its position in Alphabet by 2.0% in the first quarter. Capital World Investors now owns 3,143,633 shares of the information services provider’s stock worth $8,780,439,000 after acquiring an additional 62,329 shares during the period. Institutional investors and hedge funds own 1.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on GOOG. Itau BBA Securities began coverage on Alphabet in a research report on Tuesday, July 26th. They issued a “market perform” rating on the stock. Cowen reduced their price objective on shares of Alphabet from $300.00 to $150.00 in a report on Monday, July 25th. Evercore ISI lowered their target price on shares of Alphabet from $165.00 to $155.50 and set an “outperform” rating for the company in a research note on Thursday, July 7th. Piper Sandler reduced their price target on shares of Alphabet from $139.00 to $135.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 27th. Finally, Susquehanna Bancshares lowered their price objective on shares of Alphabet from $187.00 to $150.00 in a research report on Wednesday, July 27th. One analyst has rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $158.05.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 34,799 shares of the company’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $118.25, for a total value of $4,114,981.75. Following the completion of the transaction, the insider now owns 18,484 shares in the company, valued at approximately $2,185,733. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, SVP Prabhakar Raghavan sold 1,109 shares of the company’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total value of $2,402,914.66. Following the completion of the sale, the senior vice president now directly owns 1,608 shares of the company’s stock, valued at approximately $3,484,117.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 34,799 shares of Alphabet stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $118.25, for a total value of $4,114,981.75. Following the transaction, the insider now directly owns 18,484 shares in the company, valued at approximately $2,185,733. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,536 shares of company stock valued at $15,729,998. 12.99% of the stock is owned by corporate insiders.

Alphabet Trading Up 0.6 %

NASDAQ GOOG opened at $100.57 on Friday. The stock has a market capitalization of $1.31 trillion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 1.65 and a beta of 1.08. The firm has a 50 day moving average of $112.60 and a two-hundred day moving average of $118.39. Alphabet Inc. has a 52 week low of $99.41 and a 52 week high of $152.10. The company has a quick ratio of 2.78, a current ratio of 2.81 and a debt-to-equity ratio of 0.06.

Alphabet (NASDAQ:GOOGGet Rating) last released its quarterly earnings data on Tuesday, July 26th. The information services provider reported $1.21 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.06). The business had revenue of $57.47 billion during the quarter, compared to analysts’ expectations of $57.55 billion. Alphabet had a net margin of 25.89% and a return on equity of 28.65%. During the same quarter in the previous year, the company posted $27.26 EPS. As a group, research analysts expect that Alphabet Inc. will post 5.21 EPS for the current fiscal year.

Alphabet Company Profile

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

See Also

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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