Strategy Asset Managers LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 4.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 96,401 shares of the information services provider’s stock after selling 4,338 shares during the quarter. Alphabet makes up 2.2% of Strategy Asset Managers LLC’s holdings, making the stock its 11th biggest holding. Strategy Asset Managers LLC’s holdings in Alphabet were worth $8,505,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the business. Piershale Financial Group Inc. acquired a new stake in Alphabet in the fourth quarter valued at about $94,000. Buttonwood Financial Advisors Inc. boosted its stake in Alphabet by 1.8% in the fourth quarter. Buttonwood Financial Advisors Inc. now owns 57,822 shares of the information services provider’s stock valued at $5,102,000 after buying an additional 1,022 shares in the last quarter. StrategIQ Financial Group LLC boosted its stake in Alphabet by 10.1% in the fourth quarter. StrategIQ Financial Group LLC now owns 6,890 shares of the information services provider’s stock valued at $608,000 after buying an additional 630 shares in the last quarter. Transform Wealth LLC boosted its stake in Alphabet by 9.6% in the fourth quarter. Transform Wealth LLC now owns 143,878 shares of the information services provider’s stock valued at $12,694,000 after buying an additional 12,569 shares in the last quarter. Finally, RVW Wealth LLC boosted its stake in Alphabet by 17.6% in the fourth quarter. RVW Wealth LLC now owns 6,093 shares of the information services provider’s stock valued at $538,000 after buying an additional 913 shares in the last quarter. 34.06% of the stock is owned by institutional investors and hedge funds.
Alphabet Trading Down 0.2 %
NASDAQ GOOGL opened at $105.44 on Friday. The company has a market cap of $1.35 trillion, a price-to-earnings ratio of 23.17, a P/E/G ratio of 1.45 and a beta of 1.09. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $143.79. The business has a 50 day moving average price of $96.46 and a 200-day moving average price of $96.11. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06.
Insider Activity at Alphabet
In related news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The shares were bought at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the transaction, the insider now directly owns 1,709,527 shares in the company, valued at $50,072,045.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction on Wednesday, January 4th. The stock was sold at an average price of $91.15, for a total value of $77,933.25. Following the transaction, the chief accounting officer now owns 25,122 shares of the company’s stock, valued at $2,289,870.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the business’s stock in a transaction on Monday, March 13th. The stock was acquired at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the transaction, the insider now owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The disclosure for this purchase can be found here. Insiders have sold a total of 74,245 shares of company stock valued at $7,174,078 over the last 90 days. Insiders own 11.44% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have recently commented on GOOGL shares. Credit Suisse Group cut their price target on Alphabet from $145.00 to $136.00 and set an “outperform” rating on the stock in a research note on Friday, February 3rd. Mizuho cut their price target on Alphabet from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Wednesday, November 30th. Barclays lifted their price target on Alphabet from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. JMP Securities reissued a “market outperform” rating and set a $132.00 price target on shares of Alphabet in a research note on Thursday, March 16th. Finally, Stifel Nicolaus started coverage on Alphabet in a research note on Monday, March 20th. They set a “buy” rating and a $130.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.83.
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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