Alphabet Inc. (NASDAQ:GOOG) Major Shareholder Purchases $8,858,168.55 in Stock

Alphabet Inc. (NASDAQ:GOOGGet Rating) major shareholder 2021 Gp L.L.C. Gv acquired 255,647 shares of Alphabet stock in a transaction on Tuesday, May 10th. The stock was purchased at an average cost of $34.65 per share, for a total transaction of $8,858,168.55. Following the purchase, the insider now owns 479,695 shares in the company, valued at $16,621,431.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

NASDAQ GOOG traded down $16.00 during midday trading on Thursday, hitting $2,263.22. 2,071,500 shares of the company traded hands, compared to its average volume of 1,570,002. The company has a market cap of $1.49 trillion, a PE ratio of 20.10, a price-to-earnings-growth ratio of 1.08 and a beta of 1.13. The company’s 50-day simple moving average is $2,591.25 and its 200-day simple moving average is $2,747.36. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.87 and a quick ratio of 2.85. Alphabet Inc. has a 52 week low of $2,202.27 and a 52 week high of $3,042.00.

Alphabet’s stock is scheduled to split before the market opens on Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly issued shares will be payable to shareholders after the market closes on Friday, July 15th.

Alphabet (NASDAQ:GOOGGet Rating) last issued its earnings results on Tuesday, April 26th. The information services provider reported $24.62 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 period last year, the business posted $26.29 earnings per share. On average, research analysts predict that Alphabet Inc. will post 112.62 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in GOOG. BlackRock Inc. boosted its stake 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 acquiring an additional 205,225 shares during the last quarter. State Street Corp boosted its stake in shares of Alphabet by 0.6% in the fourth quarter. State Street Corp now owns 10,608,366 shares of the information services provider’s stock valued at $30,696,262,000 after purchasing an additional 58,955 shares during the period. Aaron Wealth Advisors LLC increased its holdings in shares of Alphabet by 492,443.2% in the 1st 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 period. Geode Capital Management LLC boosted its position in shares of Alphabet by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 4,669,682 shares of the information services provider’s stock worth $13,474,847,000 after buying an additional 97,666 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Alphabet by 2.4% during the 4th quarter. JPMorgan Chase & Co. now owns 3,752,343 shares of the information services provider’s stock worth $10,857,740,000 after purchasing an additional 87,144 shares in the last quarter. Institutional investors own 31.20% of the company’s stock.

A number of analysts have recently commented on GOOG shares. Canaccord Genuity Group cut their target price on Alphabet from $3,500.00 to $3,300.00 and set a “buy” rating on the stock in a research report on Wednesday, April 27th. Cowen upped their target price on shares of Alphabet from $3,500.00 to $3,600.00 and gave the company an “outperform” rating in a research note on Wednesday, February 2nd. Raymond James dropped their price target on shares of Alphabet from $3,630.00 to $3,180.00 in a research report on Wednesday, April 27th. Wedbush reiterated an “outperform” rating on shares of Alphabet in a research report on Wednesday, April 20th. Finally, Canaccord Genuity Group upped their price objective on Alphabet from $3,350.00 to $3,500.00 and gave the stock a “buy” rating in a report on Wednesday, February 2nd. One investment analyst has rated the stock with a hold rating and thirty have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $3,308.77.

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

Insider Buying and Selling by Quarter for Alphabet (NASDAQ:GOOG)

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