MetLife Investment Advisors LLC cut its holdings in Alphabet Inc (NASDAQ:GOOG) by 0.7% during the first quarter, HoldingsChannel.com reports. The firm owned 87,372 shares of the information services provider’s stock after selling 611 shares during the period. Alphabet comprises about 0.7% of MetLife Investment Advisors LLC’s investment portfolio, making the stock its 13th biggest holding. MetLife Investment Advisors LLC’s holdings in Alphabet were worth $102,514,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of GOOG. Oregon Public Employees Retirement Fund increased its stake in Alphabet by 102,010.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 56,224,303 shares of the information services provider’s stock valued at $54,000 after purchasing an additional 56,169,241 shares during the period. Vanguard Group Inc. increased its stake in Alphabet by 97.8% in the third quarter. Vanguard Group Inc. now owns 43,027,936 shares of the information services provider’s stock valued at $51,643,016,000 after purchasing an additional 21,273,995 shares during the period. Trust Asset Management LLC increased its stake in Alphabet by 86,154.5% in the third quarter. Trust Asset Management LLC now owns 20,789,054 shares of the information services provider’s stock valued at $20,790,000 after purchasing an additional 20,764,952 shares during the period. Lunia Capital LP increased its stake in shares of Alphabet by 135,522.5% during the fourth quarter. Lunia Capital LP now owns 16,870,086 shares of the information services provider’s stock worth $16,870,000 after acquiring an additional 16,857,647 shares during the period. Finally, Capital International Investors increased its stake in shares of Alphabet by 587.2% during the third quarter. Capital International Investors now owns 3,885,216 shares of the information services provider’s stock worth $4,636,889,000 after acquiring an additional 3,319,821 shares during the period. Institutional investors own 33.95% of the company’s stock.
Shares of GOOG opened at $1,085.35 on Monday. The company has a current ratio of 3.96, a quick ratio of 3.93 and a debt-to-equity ratio of 0.02. Alphabet Inc has a twelve month low of $970.11 and a twelve month high of $1,289.27. The stock has a market cap of $753.50 billion, a price-to-earnings ratio of 22.84, a P/E/G ratio of 1.28 and a beta of 1.03.
Alphabet (NASDAQ:GOOG) last issued its earnings results on Monday, April 29th. The information services provider reported $11.90 earnings per share for the quarter, topping the consensus estimate of $10.51 by $1.39. Alphabet had a net margin of 19.71% and a return on equity of 20.06%. The company had revenue of $36.34 billion for the quarter, compared to analyst estimates of $37.36 billion. During the same period in the prior year, the business posted $9.93 earnings per share. The firm’s revenue for the quarter was up 16.7% compared to the same quarter last year. Equities analysts anticipate that Alphabet Inc will post 48.44 EPS for the current year.
In other Alphabet news, Director John L. Hennessy sold 75 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $1,280.51, for a total transaction of $96,038.25. Following the transaction, the director now directly owns 159 shares in the company, valued at $203,601.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 69 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $1,042.90, for a total transaction of $71,960.10. Following the transaction, the chief accounting officer now owns 388 shares in the company, valued at $404,645.20. The disclosure for this sale can be found here. Insiders have sold 423 shares of company stock worth $494,939 over the last 90 days. 13.11% of the stock is currently owned by company insiders.
A number of research analysts have recently issued reports on the stock. Credit Suisse Group reiterated a “sell” rating on shares of Alphabet in a research note on Wednesday, May 15th. Zacks Investment Research upgraded shares of Alphabet from a “hold” rating to a “buy” rating and set a $1,399.00 price target on the stock in a research note on Wednesday, April 24th. Deutsche Bank boosted their price target on shares of Alphabet from $1,300.00 to $1,400.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. BidaskClub upgraded shares of Alphabet from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of Alphabet in a research note on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-six have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $1,361.50.
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.
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