Edmond DE Rothschild Holding SA strengthens its position in Alphabet Inc. (NASDAQ:GOOGL)


Edmond DE Rothschild Holding SA increased its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 3.9% in the 1st quarter, according to its latest communication with the Securities and Exchange Commission (SEC). The company held 41,797 shares of the information services provider after purchasing an additional 1,577 shares during the period. Alphabet represents approximately 2.5% of Edmond DE Rothschild Holding SA’s portfolio, making it its 3rd position. Edmond DE Rothschild Holding SA’s holdings in Alphabet were worth $116,251,000 at the end of the last reporting period.

Several other large investors also bought and sold shares of the company. State Street Corp increased its stake in Alphabet shares by 1.4% in the fourth quarter. State Street Corp now owns 11,252,792 shares of the information services provider worth $32,599,789,000 after acquiring an additional 157,280 shares last quarter. Geode Capital Management LLC increased its stake in Alphabet by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 5,322,633 shares of the information services provider worth $15,381,257,000 after acquiring an additional 116,084 shares last quarter. Norges Bank bought a new position in Alphabet stock during the fourth quarter worth approximately $14,477,662,000. Massachusetts Financial Services Co. MA increased its holdings of Alphabet shares 0.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,825,959 shares of the information services provider valued at $8,186,916,000 after purchasing an additional 20,120 shares in the last quarter. Finally, Invesco Ltd. increased its position in Alphabet shares by 14.1% in the 4th quarter. Invesco Ltd. now owns 2,292,059 shares of the information services provider worth $6,640,190,000 after purchasing an additional 283,907 shares last quarter. 41.70% of the shares are held by institutional investors.

Insiders place their bets

In other news, major shareholder 2021 Gp LLC Gv acquired 13,528 shares of the company in a transaction dated Tuesday, May 24. The stock was purchased at an average price of $33.72 per share, for a total transaction of $456,164.16. Following the completion of the transaction, the insider now directly owns 593,402 shares of the company, valued at approximately $20,009,515.44. The acquisition was disclosed in a filing with the SEC, which is available via this link. Separately, director Ann Mather sold 300 shares of the company in a transaction that took place on Monday, July 25. The stock was sold at an average price of $108.94, for a total transaction of $32,682.00. Following the sale, the director now directly owns 11,360 shares of the company, valued at approximately $1,237,558.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, major shareholder 2021 Gp LLC Gv purchased 13,528 shares in a transaction dated Tuesday, May 24. The shares were purchased at an average price of $33.72 per share, with a total value of $456,164.16. Following the completion of the transaction, the insider now directly owns 593,402 shares of the company, valued at approximately $20,009,515.44. Disclosure of this purchase can be found here. Insiders sold a total of 42,852 shares of the company worth $15,750,955 in the past 90 days. 11.44% of the shares are currently held by company insiders.

Alphabetical stock down 2.5%

NASDAQ GOOGL opened at $117.21 on Friday. Alphabet Inc. has a 12-month low of $101.88 and a 12-month high of $151.55. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt ratio of 0.06. The stock has a market capitalization of $1.54 trillion, a PE ratio of 21.81, a P/E/G ratio of 1.95 and a beta of 1.08. The stock’s 50-day moving average is $156.18 and its 200-day moving average is $137.01.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its results on Tuesday, July 26. The information services provider reported EPS of $1.21 for the quarter, missing the consensus estimate of $1.32 per ($0.11). Alphabet had a return on equity of 28.65% and a net margin of 25.89%. In the same quarter a year earlier, the company posted earnings per share of $27.26. Research analysts predict that Alphabet Inc. will post an EPS of 5.2 for the current fiscal year.

Analyst upgrades and downgrades

A number of research analysts have weighed in on the company recently. JMP Securities cut its price target on Alphabet from $165.00 to $160.00 and set a “market outperformance” rating for the company in a Thursday, June 30 research report. UBS Group lowered its price target on Alphabet from $133.00 to $132.00 and set a “buy” rating for the company in a Wednesday, July 27 research report. Morgan Stanley raised its price target on Alphabet shares from $140.00 to $145.00 and gave the company an “overweight” rating in a Wednesday, July 27 research report. Piper Sandler cut her price target on Alphabet shares from $139.00 to $135.00 and set an “overweight” rating for the company in a Wednesday, July 27 research note. Finally, Wolfe Research lowered its price target on Alphabet shares from $175.00 to $145.00 and set an “outperform” rating on the stock in a Wednesday, April 27 research note. Five analysts gave the stock a hold rating, thirty-four gave the company a buy rating and one gave the company a strong buy rating. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $147.36.

Alphabet Company Profile

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Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, 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.

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Institutional ownership by quarter for Alphabet (NASDAQ:GOOGL)



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