Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Lafayette Investments Inc.

Lafayette Investments Inc. reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 19.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 81 shares of the information services provider’s stock after selling 20 shares during the quarter. Lafayette Investments Inc.’s holdings in Alphabet were worth $235,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in GOOGL. Geode Capital Management LLC increased its stake in Alphabet by 2.9% in the third quarter. Geode Capital Management LLC now owns 5,206,549 shares of the information services provider’s stock valued at $13,883,223,000 after purchasing an additional 147,755 shares during the period. Morgan Stanley increased its stake in Alphabet by 3.1% in the third quarter. Morgan Stanley now owns 3,317,690 shares of the information services provider’s stock valued at $8,869,912,000 after purchasing an additional 101,173 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Alphabet by 0.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,825,959 shares of the information services provider’s stock valued at $8,186,916,000 after purchasing an additional 20,120 shares during the period. Capital World Investors increased its stake in Alphabet by 0.3% in the third quarter. Capital World Investors now owns 2,064,262 shares of the information services provider’s stock valued at $5,518,933,000 after purchasing an additional 5,326 shares during the period. Finally, Fisher Asset Management LLC increased its stake in shares of Alphabet by 5.7% during the fourth quarter. Fisher Asset Management LLC now owns 1,942,947 shares of the information services provider’s stock worth $5,628,795,000 after acquiring an additional 105,467 shares during the period. Hedge funds and other institutional investors own 41.70% of the company’s stock.

In other news, major shareholder 2016 Gp L.L.C. Gv sold 544,249 shares of the company’s stock in a transaction on Monday, April 11th. The shares were sold at an average price of $11.16, for a total value of $6,073,818.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 31 shares of the stock in a transaction on Monday, May 9th. The shares were sold at an average price of $2,280.98, for a total transaction of $70,710.38. Following the transaction, the director now owns 265 shares in the company, valued at $604,459.70. The disclosure for this sale can be found here. Insiders sold 550,261 shares of company stock valued at $21,637,779 over the last 90 days. Insiders own 11.70% of the company’s stock.

Shares of Alphabet stock traded down $31.82 during trading hours on Thursday, hitting $2,240.23. The company’s stock had a trading volume of 114,209 shares, compared to its average volume of 1,944,392. Alphabet Inc. has a 1-year low of $2,193.62 and a 1-year high of $3,030.93. The business has a fifty day moving average of $2,582.07 and a 200 day moving average of $2,740.21. The company has a market capitalization of $1.48 trillion, a PE ratio of 20.16, a P/E/G ratio of 1.08 and a beta of 1.13. The company has a quick ratio of 2.85, a current ratio of 2.87 and a debt-to-equity ratio of 0.06.

Alphabet’s stock is set to split on Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly minted shares will be distributed to shareholders after the closing bell on Friday, July 15th.

Alphabet (NASDAQ:GOOGLGet Rating) last released its quarterly earnings data on Tuesday, April 26th. The information services provider reported $24.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $25.51 by ($0.89). Alphabet had a return on equity of 30.18% and a net margin of 27.57%. During the same quarter last year, the business posted $26.29 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 112.62 earnings per share for the current fiscal year.

A number of research analysts have recently issued reports on the stock. Bank of America boosted their price target on shares of Alphabet from $3,470.00 to $3,510.00 and gave the stock a “buy” rating in a research note on Wednesday, February 2nd. Tigress Financial boosted their price target on shares of Alphabet from $3,540.00 to $3,670.00 and gave the stock a “strong-buy” rating in a research note on Friday, March 18th. MKM Partners dropped their price target on shares of Alphabet from $3,375.00 to $3,300.00 and set a “buy” rating on the stock in a research note on Thursday, April 14th. Morgan Stanley dropped their price target on shares of Alphabet from $3,450.00 to $3,270.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 27th. Finally, Canaccord Genuity Group decreased their price objective on shares of Alphabet from $3,500.00 to $3,300.00 and set a “buy” rating on the stock in a report on Wednesday, April 27th. Four equities research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $3,314.08.

Alphabet Company Profile (Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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