Glassy Mountain Advisors Inc. bought a new stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 25,350 shares of the information services provider’s stock, valued at approximately $2,237,000. Alphabet accounts for 1.2% of Glassy Mountain Advisors Inc.’s holdings, making the stock its 29th largest position.
A number of other institutional investors have also bought and sold shares of the company. Spreng Capital Management Inc. boosted its holdings in Alphabet by 4.0% in the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock worth $364,000 after buying an additional 5 shares during the period. West Family Investments Inc. boosted its holdings in Alphabet by 0.3% in the 1st quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after purchasing an additional 6 shares during the period. Maple Capital Management Inc. grew its position in Alphabet by 2.1% during the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock worth $823,000 after buying an additional 6 shares in the last quarter. Private Advisory Group LLC raised its holdings in shares of Alphabet by 1.8% in the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock valued at $1,115,000 after acquiring an additional 7 shares in the last quarter. Finally, Weik Capital Management grew its holdings in shares of Alphabet by 0.5% during the first quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock worth $4,264,000 after purchasing an additional 8 shares in the last quarter. Institutional investors own 34.06% of the company’s stock.
Alphabet Stock Performance
Shares of GOOGL opened at $101.22 on Tuesday. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $143.79. The business’s fifty day simple moving average is $95.34 and its two-hundred day simple moving average is $96.03. The company has a current ratio of 2.38, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06. The company has a market cap of $1.30 trillion, a price-to-earnings ratio of 22.24, a P/E/G ratio of 1.40 and a beta of 1.09.
Insider Activity
In related news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the firm’s stock in a transaction dated Monday, March 13th. The stock was purchased at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the acquisition, the insider now directly owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The stock was bought at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the acquisition, the insider now directly owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 22,203 shares of the 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 completion of the transaction, the senior vice president now directly owns 76,579 shares in the company, valued at approximately $6,872,965.25. The disclosure for this sale can be found here. Insiders have sold a total of 74,245 shares of company stock valued at $7,174,078 in the last 90 days. 11.44% of the stock is currently owned by insiders.
Analyst Ratings Changes
Several analysts have recently weighed in on the stock. Loop Capital raised their price objective on shares of Alphabet from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, February 8th. MKM Partners upped their price objective on shares of Alphabet from $120.00 to $126.00 in a research note on Friday, February 3rd. Jefferies Financial Group reiterated a “buy” rating and issued a $130.00 price objective on shares of Alphabet in a report on Friday, February 10th. JMP Securities reissued a “market outperform” rating and set a $132.00 price objective on shares of Alphabet in a research note on Thursday, March 16th. Finally, Credit Suisse Group decreased their target price on shares of Alphabet from $145.00 to $136.00 and set an “outperform” rating on the stock in a research note on Friday, February 3rd. Four research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $132.44.
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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