Riversedge Advisors LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 13.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,680 shares of the information services provider’s stock after selling 560 shares during the quarter. Riversedge Advisors LLC’s holdings in Alphabet were worth $325,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. IAG Wealth Partners LLC boosted its position in shares of Alphabet by 3,275.0% during the third quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock valued at $26,000 after buying an additional 262 shares during the last quarter. Artemis Wealth Advisors LLC boosted its position in shares of Alphabet by 1,900.0% during the third quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock valued at $27,000 after buying an additional 266 shares during the last quarter. Laurel Wealth Planning LLC boosted its position in shares of Alphabet by 1,900.0% during the third quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after buying an additional 285 shares during the last quarter. Coston McIsaac & Partners boosted its position in shares of Alphabet by 1,900.0% during the third quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock valued at $30,000 after buying an additional 304 shares during the last quarter. Finally, Horizons Wealth Management purchased a new position in shares of Alphabet during the second quarter valued at approximately $33,000. Institutional investors own 34.06% of the company’s stock.
Alphabet Price Performance
GOOGL opened at $103.73 on Friday. The stock’s 50 day simple moving average is $97.34 and its 200 day simple moving average is $95.80. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $143.79. The firm has a market cap of $1.33 trillion, a price-to-earnings ratio of 22.79, a PEG ratio of 1.40 and a beta of 1.09.
Insider Buying and Selling
In other news, insider John Kent Walker sold 29,006 shares of Alphabet stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $101.84, for a total value of $2,953,971.04. Following the sale, the insider now directly owns 24,277 shares in the company, valued at approximately $2,472,369.68. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, SVP Prabhakar Raghavan sold 22,203 shares of Alphabet stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the sale, the senior vice president now directly owns 76,579 shares in the company, valued at $6,872,965.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 29,006 shares of Alphabet stock in a transaction that occurred 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 in the company, valued at $2,472,369.68. The disclosure for this sale can be found here. Insiders have sold a total of 102,871 shares of company stock worth $10,094,138 in the last ninety days. 11.44% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
GOOGL has been the topic of several analyst reports. KeyCorp cut their target price on Alphabet from $118.00 to $117.00 and set an “overweight” rating on the stock in a research report on Monday, January 30th. Roth Capital reissued a “buy” rating on shares of Alphabet in a research report on Friday, February 3rd. Bank of America boosted their price objective on Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a research report on Tuesday, January 31st. MKM Partners boosted their price objective on Alphabet from $120.00 to $126.00 in a research report on Friday, February 3rd. Finally, Barclays boosted their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. Four investment analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $131.39.
Alphabet Company 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.
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