Renaissance Investment Group LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 3.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,951 shares of the information services provider’s stock after selling 985 shares during the quarter. Renaissance Investment Group LLC’s holdings in Alphabet were worth $2,569,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Parkside Investments LLC boosted its position in Alphabet by 3.2% in the 4th quarter. Parkside Investments LLC now owns 117,415 shares of the information services provider’s stock worth $10,418,000 after purchasing an additional 3,625 shares in the last quarter. Ayrshire Capital Management LLC boosted its position in Alphabet by 1.7% in the 4th quarter. Ayrshire Capital Management LLC now owns 35,813 shares of the information services provider’s stock worth $3,178,000 after purchasing an additional 608 shares in the last quarter. CFO4Life L.P. purchased a new stake in Alphabet in the 4th quarter worth approximately $2,562,000. Onyx Bridge Wealth Group LLC boosted its position in Alphabet by 28.1% in the 4th quarter. Onyx Bridge Wealth Group LLC now owns 13,208 shares of the information services provider’s stock worth $1,164,000 after purchasing an additional 2,898 shares in the last quarter. Finally, Albert D Mason Inc. boosted its position in Alphabet by 7.7% in the 4th quarter. Albert D Mason Inc. now owns 22,308 shares of the information services provider’s stock worth $1,979,000 after purchasing an additional 1,586 shares in the last quarter. Institutional investors and hedge funds own 28.69% of the company’s stock.
Alphabet Stock Down 0.5 %
Shares of GOOG opened at $101.93 on Tuesday. Alphabet Inc. has a 52-week low of $83.45 and a 52-week high of $144.16. The company has a market capitalization of $1.31 trillion, a PE ratio of 22.40, a price-to-earnings-growth ratio of 1.41 and a beta of 1.09. The stock has a fifty day simple moving average of $95.96 and a two-hundred day simple moving average of $96.58. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06.
Analysts Set New Price Targets
Several equities research analysts have commented on the company. JPMorgan Chase & Co. set a $118.00 price objective on Alphabet in a research report on Thursday, February 9th. The Goldman Sachs Group set a $128.00 target price on Alphabet in a research report on Friday, February 3rd. Piper Sandler decreased their target price on Alphabet from $122.00 to $120.00 and set an “overweight” rating on the stock in a research report on Friday, February 3rd. UBS Group set a $120.00 target price on Alphabet in a research report on Monday, February 6th. Finally, Raymond James increased their target price on Alphabet from $116.00 to $119.00 and gave the company an “outperform” rating in a research report on Friday, February 3rd. One equities research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $135.11.
Insiders Place Their Bets
In other Alphabet news, Director Ann Mather sold 380 shares of the firm’s stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total value of $33,911.20. Following the completion of the sale, the director now directly owns 11,300 shares of the company’s stock, valued at approximately $1,008,412. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Ann Mather sold 380 shares of the firm’s stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total transaction of $33,911.20. Following the completion of the sale, the director now directly owns 11,300 shares of the company’s stock, valued at approximately $1,008,412. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 22,203 shares of the firm’s stock in a transaction dated 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 $6,872,965.25. The disclosure for this sale can be found here. Insiders sold 74,245 shares of company stock valued at $7,174,078 in the last three months. 12.99% of the stock is currently owned by 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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