AustralianSuper Pty Ltd Has $559.94 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

AustralianSuper Pty Ltd increased its position in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 26.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 256,939 shares of the information services provider’s stock after buying an additional 54,371 shares during the period. Alphabet accounts for about 3.5% of AustralianSuper Pty Ltd’s investment portfolio, making the stock its 4th biggest position. AustralianSuper Pty Ltd’s holdings in Alphabet were worth $559,937,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GOOGL. Rodgers Brothers Inc. lifted its position in shares of Alphabet by 20.0% in the fourth quarter. Rodgers Brothers Inc. now owns 144 shares of the information services provider’s stock worth $417,000 after buying an additional 24 shares in the last quarter. Zeno Research LLC purchased a new stake in shares of Alphabet in the fourth quarter worth about $6,741,000. Gordian Capital Singapore Pte Ltd purchased a new stake in Alphabet during the fourth quarter valued at approximately $1,064,000. Ardmore Road Asset Management LP purchased a new stake in Alphabet during the fourth quarter valued at approximately $11,872,000. Finally, Odey Asset Management Group Ltd raised its position in Alphabet by 17.9% during the fourth quarter. Odey Asset Management Group Ltd now owns 3,300 shares of the information services provider’s stock valued at $9,560,000 after purchasing an additional 500 shares during the period. 1.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Barclays decreased their price objective on Alphabet from $160.00 to $150.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 5th. Rosenblatt Securities upped their price objective on Alphabet from $154.00 to $156.00 and gave the company a “buy” rating in a research report on Wednesday, September 7th. Evercore ISI decreased their price objective on Alphabet from $155.50 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 27th. Guggenheim decreased their price objective on Alphabet to $130.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 27th. Finally, Itau BBA Securities began coverage on Alphabet in a report on Tuesday, July 26th. They issued a “market perform” rating and a $113.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.41.

Alphabet Stock Up 0.9 %

Shares of NASDAQ GOOGL opened at $100.14 on Friday. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $1.31 trillion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 1.64 and a beta of 1.09. The stock’s fifty day simple moving average is $111.79 and its two-hundred day simple moving average is $117.82. Alphabet Inc. has a 12-month low of $98.79 and a 12-month high of $151.55.

Alphabet (NASDAQ:GOOGLGet Rating) last announced its earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.06). Alphabet had a net margin of 25.89% and a return on equity of 28.65%. The company had revenue of $57.47 billion for the quarter, compared to the consensus estimate of $57.55 billion. During the same period last year, the business posted $27.26 EPS. As a group, analysts expect that Alphabet Inc. will post 5.21 EPS for the current fiscal year.

Insider Activity

In other news, Director Ann Mather sold 20 shares of the stock in a transaction on Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total transaction of $47,666.40. Following the completion of the sale, the director now owns 565 shares in the company, valued at approximately $1,346,575.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Prabhakar Raghavan sold 1,109 shares of the stock in a transaction on Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total transaction of $2,402,914.66. Following the completion of the sale, the senior vice president now owns 1,608 shares in the company, valued at approximately $3,484,117.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ann Mather sold 20 shares of the stock in a transaction on Monday, June 27th. The shares were sold at an average price of $2,383.32, for a total value of $47,666.40. Following the sale, the director now owns 565 shares of the company’s stock, valued at approximately $1,346,575.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,536 shares of company stock worth $15,729,998. Insiders own 11.44% of the company’s stock.

About Alphabet

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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.

See Also

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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