Kiwi Wealth Investments Limited Partnership Acquires New Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Kiwi Wealth Investments Limited Partnership purchased a new position in Alphabet Inc. (NASDAQ:GOOGLFree Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 486,616 shares of the information services provider’s stock, valued at approximately $63,679,000. Alphabet accounts for 6.9% of Kiwi Wealth Investments Limited Partnership’s holdings, making the stock its 2nd largest position.

Several other institutional investors also recently added to or reduced their stakes in GOOGL. Vanguard Group Inc. grew its holdings in shares of Alphabet by 1,919.4% during the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after purchasing an additional 453,413,389 shares in the last quarter. State Street Corp grew its holdings in shares of Alphabet by 1,900.6% during the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after purchasing an additional 206,300,042 shares in the last quarter. Moneta Group Investment Advisors LLC grew its holdings in shares of Alphabet by 111,197.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock worth $15,036,178,000 after purchasing an additional 170,267,122 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Alphabet by 1,759.2% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock valued at $11,106,502,000 after buying an additional 109,870,525 shares in the last quarter. Finally, Norges Bank acquired a new stake in Alphabet in the 4th quarter valued at $8,335,063,000. 35.08% of the stock is owned by institutional investors.

Alphabet Stock Performance

Shares of GOOGL stock opened at $134.38 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The stock has a market cap of $1.67 trillion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. The stock has a 50-day moving average of $142.18 and a 200-day moving average of $136.96. Alphabet Inc. has a one year low of $89.42 and a one year high of $153.78.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $70.77 billion. During the same period last year, the company posted $1.05 EPS. As a group, sell-side analysts expect that Alphabet Inc. will post 6.77 earnings per share for the current year.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $133.97, for a total value of $26,794.00. Following the transaction, the director now owns 6,984 shares of the company’s stock, valued at $935,646.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP Prabhakar Raghavan sold 16,088 shares of Alphabet stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $139.10, for a total value of $2,237,840.80. Following the sale, the senior vice president now directly owns 52,440 shares in the company, valued at $7,294,404. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $133.97, for a total transaction of $26,794.00. Following the completion of the sale, the director now owns 6,984 shares in the company, valued at $935,646.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 230,982 shares of company stock valued at $32,608,000. 0.88% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on GOOGL shares. Truist Financial decreased their price target on Alphabet from $160.00 to $158.00 and set a “buy” rating on the stock in a research note on Wednesday, January 31st. Susquehanna boosted their price target on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Redburn Atlantic boosted their price target on Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Mizuho boosted their price target on Alphabet from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Finally, KeyCorp boosted their price target on Alphabet from $153.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, January 29th. Five investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $153.65.

Read Our Latest 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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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