Chesley Taft & Associates LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 4.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 123,677 shares of the information services provider’s stock after selling 5,477 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Alphabet were worth $10,912,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Bornite Capital Management LP purchased a new stake in Alphabet during the first quarter valued at $16,688,000. Markel Corp increased its position in Alphabet by 17.0% during the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after acquiring an additional 2,250 shares during the last quarter. United Bank increased its position 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 acquiring an additional 113 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Alphabet by 23.4% during the first 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 acquiring an additional 61,427 shares during the last quarter. Finally, Dakota Wealth Management increased its position in Alphabet by 20.4% during the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after acquiring an additional 1,570 shares during the last quarter. Hedge funds and other institutional investors own 34.06% of the company’s stock.
Alphabet Price Performance
Shares of NASDAQ:GOOGL opened at $103.73 on Friday. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $143.79. The company’s 50 day moving average is $97.34 and its 200 day moving average is $95.86. 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 $1.33 trillion, a PE ratio of 22.79, a price-to-earnings-growth ratio of 1.40 and a beta of 1.09.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on GOOGL shares. Morgan Stanley boosted their price objective on shares of Alphabet from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Barclays boosted their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Piper Sandler cut their price target on shares of Alphabet from $120.00 to $117.00 and set an “outperform” rating on the stock in a report on Friday. Roth Capital restated a “buy” rating on shares of Alphabet in a report on Friday, February 3rd. Finally, MKM Partners upped their price target on shares of Alphabet from $120.00 to $126.00 in a report on Friday, February 3rd. Four research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.39.
Insider Transactions at Alphabet
In other news, Director Ann Mather sold 340 shares of the firm’s stock in a transaction that occurred on Wednesday, January 25th. The shares were sold at an average price of $96.92, for a total transaction of $32,952.80. Following the sale, the director now owns 11,300 shares of the company’s stock, valued at approximately $1,095,196. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider John Kent Walker sold 29,006 shares of Alphabet stock in a transaction on Wednesday, March 29th. The shares were sold at an average price of $101.84, for a total value of $2,953,971.04. Following the sale, the insider now owns 24,277 shares of the company’s stock, valued at approximately $2,472,369.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ann Mather sold 340 shares of Alphabet stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $96.92, for a total transaction of $32,952.80. Following the completion of the sale, the director now directly owns 11,300 shares in the company, valued at approximately $1,095,196. The disclosure for this sale can be found here. Insiders have sold 102,871 shares of company stock valued at $10,094,138 in the last 90 days. 11.44% of the stock is currently owned by company insiders.
Alphabet Profile
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.
See Also
- Get a free copy of the StockNews.com research report on Alphabet (GOOGL)
- What is a Gold IRA, and is it a Viable Investment?
- Is Braze, Inc Ready To Rocket Higher?
- Mullen Automotive Makes Deliveries; Short-Squeeze Possible
- Can Frontline Maintain This Momentum?
- Walmart Shares Jump on Evercore Analyst Upgrade
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL – Get Rating).
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.
