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Gofen & Glossberg LLC IL increases its shareholders in Alphabet Inc.

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Gofen & Glossberg LLC IL has increased its position in shares of Alphabet Inc. (NASDAQ: GOOG - get rated) and grew 0.7% in the first quarter, says Holdings Channel.com. The company held 43,286 shares in the information services provider after purchasing another 303 shares in the quarter. Alphabet makes up 2.8% of Gofen & Glossberg LLC IL's portfolio, making the stock the fourth largest holding company. Gofen & Glossberg LLC IL's assets in Alphabet were valued at $ 120,897,000 at the end of the last quarter. 

Many other hedge funds and other institutional investors have also recently changed their positions to GOOG. Norges Bank acquired a new position in Alphabet shares in the fourth quarter with an estimated value of USD 2,249,092,000. TD Asset Management Inc. in Q4, it increased its stake in Alphabet by 62.0%. TD Asset Management Inc. now valued the information services provider at 890,592 shares at $ 2,577,008,000 after acquiring an additional 340,733 shares during the period. 

Allspring Global Investments Holdings LLC acquired a new position at Alphabet for $ 754,814,000 in the fourth quarter. SkyView Investment Advisors LLC increased its stake in Alphabet by 20,160.8% in Q4. SkyView Investment Advisors LLC now owns 240,901 shares of information services provider worth $ 3,848,000 after acquiring an additional 239,712 shares during the period. Finally, BlackRock Inc. increased its stake in Alphabet by 1.1% in Q4. BlackRock Inc. it now holds 19,196,177 shares of information service provider worth $ 55,545,866,000 after acquiring an additional 205,225 shares in the period. Investors in the institution own 31.20% of the company's shares.

In related reports, CEO Ann Mather sold 21 shares of the company in a transaction on Wednesday, May 25. The stock was sold at an average price of $2,102.84, for a total value of $44,159.64. Following the completion of the sale, the director now directly owns 565 shares of the company’s stock, valued at approximately $1,188,104.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 

Also, SVP Prabhakar Raghavan sold 1,276 shares of the business’s stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $2,816.49, for a total value of $3,593,841.24. Following the completion of the sale, the senior vice president now directly owns 14,034 shares in the company worth $ 39,526,620.66. Revelation of this sale can be found here. In the last three months, insiders have sold 551,675 shares of the company worth $ 25,567,428. Corporate insiders own 12.99% of the company's shares.

Many stock analysts commented on the company. On Wednesday, April 27, Deutsche Bank Aktiengesellschaft lowered its Alphabet price target from $ 3,150.00 to $ 2,900.00 in a survey report. Reduced by JPMorgan Chase & Co. their Alphabet price target ranged from $ 3,450.00 to $ 3,200.00 in a survey report on Wednesday, April 27th. Oppenheimer returned the "beat" rating and set a price target for Alphabet shares of $ 3,290.00 in a research report on Thursday, April 28, which Wedbush reiterated. "Exceeded" rating of Alphabet shares in a research report on Wednesday, April 20. 

Raymond James finally lowered his Alphabet target price from $ 3,630.00 to $ 3,180.00 in a research report on Wednesday, April 27. Twenty-nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $3,315.38. 

GOOG stock opened at $2,370.76 on Friday. The stock has a 50-day moving average price of $2,298.68 and a 200-day moving average price of $2,593.26. Alphabet Inc. has a 1-year low of $2,044.16 and a 1-year high of $3,042.00. The company has a current ratio of 2.87, a fast ratio of 2.85 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $ 1.56 trillion, a PE ratio of 21.44, a price-to-earnings ratio of 1.16 and a beta of 1.13.

The distribution of Alphabet shares is scheduled for Monday, July 18 in the morning. The 20-1 split was announced on Tuesday, February 1. The newly created shares will be distributed to shareholders after the closing bell on Friday, July 15. 

Alphabet (NASDAQ: GOOG – Get Rating) last posted its quarterly earnings data on Tuesday, April 26th. The information services provider reported $24.62 earnings per share for the quarter, missing the consensus estimate of $25.70 by ($1.08). Alphabet had a return on equity of 30.18% and a net margin of 27.57%. 

The business had revenue of $56.02 billion during the quarter, compared to the consensus estimate of $56.17 billion. During the same period last year, the business posted $26.29 in earnings per share. On average, analysts forecast that Alphabet Inc. will post 110.83 earnings per share for the current year.

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