Maj Invest Holding A S Increases Stake in Alphabet Inc. (NASDAQ: GOOGL)

On October 20th, 2024, it was reported that Maj Invest Holding A S has raised its investment in Alphabet Inc. (NASDAQ: GOOGL) by 9.7% during the third quarter. This institutional investor currently holds 1,455,486 shares of the tech giant, having added an additional 128,417 shares in the recent quarter. Alphabet now constitutes about 6.4% of Maj Invest's portfolio, making it the firm’s largest stock position. At the end of the third quarter, Maj Invest Holding A S valued their holdings in the company at approximately $241,392,000.

Other notable investors have also engaged in buying and selling Alphabet shares recently. Christopher J. Hasenberg Inc increased its holdings by a significant 75.0% during the second quarter, bringing its total to 140 shares valued at around $26,000 after a purchase of 60 shares. New positions were established by Kings Path Partners LLC, which invested about $36,000, and Tributary Capital Management LLC, which invested approximately $30,000 in Alphabet during the first quarter. Additionally, Denver PWM LLC and Quarry LP made new investments worth about $41,000 and $53,000, respectively. Overall, about 40.03% of Alphabet's stock is owned by hedge funds and institutional investors.

Changes in Analyst Ratings

In recent times, several equity research analysts have given their opinions on Alphabet's stock. BMO Capital Markets recently lowered its price target from $222.00 to $215.00 while maintaining an “outperform” rating. JMP Securities reiterated their “market outperform” rating with a target price set at $200.00. Meanwhile, Loop Capital continues to advocate a “hold” rating but adjusted its price target to $170.00. Jefferies Financial Group raised its target price from $215.00 to $220.00, while Guggenheim increased their price target from $195.00 to $205.00, giving a “buy” rating. In total, eight analysts have suggested a hold rating, twenty-nine have recommended a buy, and four have endorsed a strong buy for the stock. According to MarketBeat.com, Alphabet holds a consensus rating of “Moderate Buy” with an average target price near $201.76.

Updates from Insiders

In related news, Alphabet's CEO, Sundar Pichai, recently sold 22,500 shares on October 16th for around $3,741,750, at an average price of $166.30 per share. This sale did not significantly alter his overall position, as he still owns approximately 2,106,806 shares valued at over $350 million. Another executive, CAO Amie Thuener O’toole, sold 2,835 shares in early September at an average price of $151.53, totaling about $429,588. These insider trades reflect the ongoing activity within the company, and in recent months, insiders have sold a total of 220,426 shares amounting to $35,993,340. Company insiders currently hold about 11.55% of Alphabet’s stock.

Current Stock Performance

As of the last trading session, GOOGL shares started at $163.42. Alphabet holds a debt-to-equity ratio of 0.04 and boasts a strong current ratio of 2.08. On average, its stock has reached a 50-day moving average of $161.77 and a 200-day moving average of $168.16. The company has experienced a one-year low of $120.21 and a high of $191.75 with a market capitalization of $2.02 trillion. The current price-to-earnings (P/E) ratio stands at 25.06, with a price-to-earnings growth (PEG) ratio of 1.21, and a beta factor of 1.04.

Alphabet last reported its earnings on July 23rd, achieving an earnings per share (EPS) of $1.89, which exceeded analysts’ expected EPS of $1.85 by $0.04. The company recorded revenues of $84.74 billion, significantly surpassing the anticipated $70.60 billion. This resulted in a net margin of 26.70% and a return on equity of 30.49%. Forecasts suggest that Alphabet Inc. is projected to achieve an EPS of 7.64 for the current fiscal year.

About Alphabet Inc.

Alphabet Inc. is a global leader in various technology-driven services, offering an array of products through its Google Services, Google Cloud, and Other Bets segments. From advertisement services to platforms like YouTube, Android, and Google Maps, the company has a significant presence in markets across North America, Europe, Asia-Pacific, and beyond.

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