Avitas Wealth Management LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 22.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 111,154 shares of the information services provider’s stock after buying an additional 20,094 shares during the period. Alphabet comprises approximately 2.1% of Avitas Wealth Management LLC’s holdings, making the stock its 7th biggest position. Avitas Wealth Management LLC’s holdings in Alphabet were worth $9,807,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of GOOGL. Bornite Capital Management LP bought a new stake in Alphabet in the 1st quarter valued at about $16,688,000. Markel Corp lifted its position in Alphabet by 17.0% in the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after purchasing an additional 2,250 shares during the period. United Bank boosted its stake in Alphabet by 5.9% during the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after buying an additional 113 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Alphabet by 23.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after purchasing an additional 61,427 shares in the last quarter. Finally, Dakota Wealth Management boosted its holdings in Alphabet by 20.4% during the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after buying an additional 1,570 shares in the last quarter. Institutional investors and hedge funds own 34.06% of the company’s stock.
Alphabet Trading Up 1.3 %
Shares of GOOGL stock opened at $101.62 on Monday. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06. The firm has a market cap of $1.30 trillion, a P/E ratio of 22.33, a price-to-earnings-growth ratio of 1.39 and a beta of 1.09. The business has a 50-day moving average price of $95.08 and a two-hundred day moving average price of $96.09. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $143.79.
Analyst Ratings Changes
Several brokerages recently commented on GOOGL. JMP Securities restated a “market outperform” rating and issued a $132.00 price target on shares of Alphabet in a research report on Thursday. Evercore ISI cut their price target on Alphabet from $130.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, December 21st. Rosenblatt Securities cut their price target on shares of Alphabet from $130.00 to $128.00 and set a “buy” rating on the stock in a report on Friday, February 3rd. MKM Partners raised their price objective on Alphabet from $120.00 to $126.00 in a research note on Friday, February 3rd. Finally, KeyCorp dropped their target price on shares of Alphabet from $118.00 to $117.00 and set an “overweight” rating on the stock in a report on Monday, January 30th. Four investment analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $132.44.
Insider Buying and Selling at Alphabet
In other news, SVP Prabhakar Raghavan sold 22,203 shares of the company’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total value of $1,992,719.25. Following the sale, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Prabhakar Raghavan sold 22,203 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total value of $1,992,719.25. Following the sale, the senior vice president now directly owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 37,500 shares of the company’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $100.00, for a total value of $3,750,000.00. Following the completion of the sale, the director now owns 144,740 shares in the company, valued at approximately $14,474,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,245 shares of company stock worth $7,174,078. 11.44% of the stock is currently owned by company insiders.
About Alphabet
Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.
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