Allspring Global Investments Holdings LLC Sells 869,610 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Allspring Global Investments Holdings LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 26.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,414,487 shares of the information services provider’s stock after selling 869,610 shares during the quarter. Alphabet comprises approximately 0.6% of Allspring Global Investments Holdings LLC’s portfolio, making the stock its 23rd biggest holding. Allspring Global Investments Holdings LLC’s holdings in Alphabet were worth $400,443,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. SG Americas Securities LLC boosted its holdings in shares of Alphabet by 587.4% in the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock worth $1,772,991,000 after acquiring an additional 9,135,056 shares during the period. Capital Research Global Investors lifted its holdings in Alphabet by 14.4% during the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after purchasing an additional 7,275,757 shares in the last quarter. Wulff Hansen & CO. lifted its holdings in Alphabet by 18,810.2% during the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock worth $807,700,000 after purchasing an additional 4,410,811 shares in the last quarter. PineStone Asset Management Inc. boosted its stake in Alphabet by 143.7% in the 2nd quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock worth $1,288,201,000 after purchasing an additional 4,170,229 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Alphabet by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock valued at $75,144,172,000 after buying an additional 4,064,073 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the sale, the senior vice president now directly owns 312,210 shares of the company’s stock, valued at approximately $50,765,346. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 220,426 shares of company stock worth $35,993,340. 11.55% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. TD Securities increased their price target on shares of Alphabet from $200.00 to $220.00 in a report on Wednesday, July 10th. Bank of America increased their target price on shares of Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday. Wells Fargo & Company boosted their price target on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday. Guggenheim upped their price target on shares of Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Roth Mkm lifted their price objective on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday. Seven equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $205.51.

Alphabet Trading Up 2.8 %

Shares of GOOGL opened at $174.46 on Thursday. The firm has a fifty day simple moving average of $162.17 and a two-hundred day simple moving average of $168.78. Alphabet Inc. has a twelve month low of $122.68 and a twelve month high of $191.75. The stock has a market capitalization of $2.16 trillion, a P/E ratio of 26.76, a PEG ratio of 1.27 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period last year, the firm earned $1.55 earnings per share. On average, research analysts anticipate that Alphabet Inc. will post 7.65 EPS for the current year.

About Alphabet

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