The Vanguard Group, Inc. recently announced the acquisition of new stake in Alphabet Inc (NASDAQ:GOOGL). The institutional investor has increased its shareholding in the Communication Services company by 0.22% to 462.45 million shares with purchase of 1.0 million shares. This fresh investment now brings its stake to 7.81% valued currently at $64.6 billion. In addition, BlackRock Fund Advisors raised its holdings by 1.08 million to 266.9 million shares. And Fidelity Management & Research Co has lifted its position by 4.81% or 9.3 million shares – to 202.81 million shares.
Currently, there are 5.96B common shares owned by the public and among those 5.90B shares have been available to trade.
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Insiders at the company have transacted a total of 1 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 1 occasions, with total insider shares sold totaling 637 shares.
The top 3 mutual fund holders in Alphabet Inc are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and SPDR S&P 500 ETF Trust. Vanguard Total Stock Market ETF owns 185.77 million shares of the company’s stock, all valued at over $25.95 billion. The company sold -0.14 million shares recently to bring their total holdings to about 3.14% of the shares outstanding. Vanguard 500 Index Fund sold -0.1 million shares to see its total holdings shrink to 144.51 million shares valued at over $20.19 billion and representing 2.44% of the shares outstanding. SPDR S&P 500 ETF Trust sold -0.4 million shares to bring its total holdings to over 72.42 million shares at a value of $10.12 billion. SPDR S&P 500 ETF Trust now owns shares totaling to 1.22% of the shares outstanding.
However, the script later moved the day high at 152.54, up 0.21%. The company’s stock has a 5-day price change of 3.97% and 21.16% over the past three months. GOOGL shares are trading 8.94% year to date (YTD), with the 12-month market performance up to 59.82% higher. It has a 12-month low price of $88.57 and touched a high of $153.05 over the same period. GOOGL has an average intraday trading volume of 27.93 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 7.03%, 10.33%, and 18.68% respectively.
Institutional ownership of Alphabet Inc (NASDAQ: GOOGL) shares accounts for 37.21% of the company’s 5.96B shares outstanding. Mutual fund holders own 37.73%, while other institutional holders and individual stakeholders account for 41.52% and 0.04% respectively.
It has a market capitalization of $1904.75B and a beta (3y monthly) value of 1.06. The stock’s trailing 12-month PE ratio is 29.18, while the earnings-per-share (ttm) stands at $5.22. The company has a PEG of 1.53 and a Quick Ratio of 2.01 with the debt-to-equity ratio at 0.11. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.49% over the week and 1.72% over the month.
Analysts forecast that Alphabet Inc (GOOGL) will achieve an EPS of $1.47 for the current quarter, $1.37 for the next quarter and $6.16 for 2024. The lowest estimate earnings-per-share for the quarter is $1.33 while analysts give the company a high EPS estimate of $1.61. Comparatively, EPS for the current quarter was $1.05 a year ago. Earnings per share for the fiscal year are expected to increase by 25.98%, and 16.45% over the next financial year. EPS should shrink at an annualized rate of 19.05% over the next five years, compared to 38.33% over the past 5-year period.
Looking at the support for the GOOGL, a number of firms have released research notes about the stock. Mizuho stated their Buy rating for the stock in a research note on January 17, 2024, with the firm’s price target at $155-$170.
