Alphabet Inc. (NASDAQ:GOOGL) Stake Reduced by Barden Capital Management Inc.

Barden Capital Management Inc. reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,258 shares of the information services provider’s stock after selling 100 shares during the quarter. Barden Capital Management Inc.’s holdings in Alphabet were worth $1,108,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in GOOGL. Vanguard Group Inc. grew its stake in shares of Alphabet by 1,919.4% in the third 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 stake in shares of Alphabet by 1,900.6% in the third 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 stake in shares of Alphabet by 111,197.8% in the fourth 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 grew its stake in shares of Alphabet by 1,759.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock worth $11,106,502,000 after purchasing an additional 109,870,525 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Alphabet in the fourth quarter worth $8,335,063,000. 35.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on GOOGL. Barclays decreased their price target on Alphabet from $200.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, October 25th. Bank of America upped their price objective on Alphabet from $142.00 to $146.00 and gave the company a “buy” rating in a report on Wednesday, October 4th. Loop Capital upped their price objective on Alphabet from $125.00 to $140.00 and gave the company a “hold” rating in a report on Friday, August 18th. Mizuho upped their price objective on Alphabet from $135.00 to $155.00 in a report on Wednesday, July 26th. Finally, Truist Financial upped their price objective on Alphabet from $122.00 to $160.00 in a report on Wednesday, July 26th. Five investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $147.00.

Alphabet Stock Performance

Shares of GOOGL stock opened at $136.25 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.04 and a quick ratio of 2.01. Alphabet Inc. has a fifty-two week low of $84.86 and a fifty-two week high of $141.22. The stock’s 50-day moving average is $133.42 and its two-hundred day moving average is $127.88. The firm has a market cap of $1.71 trillion, a P/E ratio of 26.15, a PEG ratio of 1.51 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 24th. The information services provider reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.10. Alphabet had a return on equity of 25.24% and a net margin of 22.46%. The company had revenue of $64.05 billion for the quarter, compared to analyst estimates of $63.13 billion. Analysts predict that Alphabet Inc. will post 5.74 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 3,749 shares of the stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $136.28, for a total transaction of $510,913.72. Following the transaction, the chief accounting officer now owns 25,568 shares of the company’s stock, valued at approximately $3,484,407.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director John L. Hennessy sold 200 shares of the stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $132.92, for a total transaction of $26,584.00. Following the transaction, the director now owns 7,184 shares of the company’s stock, valued at approximately $954,897.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 3,749 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $136.28, for a total value of $510,913.72. Following the completion of the sale, the chief accounting officer now directly owns 25,568 shares in the company, valued at approximately $3,484,407.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 176,576 shares of company stock valued at $23,425,367. Insiders own 0.88% of the company’s stock.

Alphabet Profile

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.