Pitti Group Wealth Management LLC reduced its holdings in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 20.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,366 shares of the information services provider’s stock after selling 1,095 shares during the quarter. Pitti Group Wealth Management LLC’s holdings in Alphabet were worth $387,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in GOOG. OLD Second National Bank of Aurora grew its position in shares of Alphabet by 1,900.0% in the 3rd quarter. OLD Second National Bank of Aurora now owns 260 shares of the information services provider’s stock worth $25,000 after buying an additional 247 shares during the last quarter. Westchester Capital Management Inc. grew its position in shares of Alphabet by 1,900.0% in the 3rd quarter. Westchester Capital Management Inc. now owns 260 shares of the information services provider’s stock worth $25,000 after buying an additional 247 shares during the last quarter. Carolina Wealth Advisors LLC boosted its position in shares of Alphabet by 1,900.0% during the third quarter. Carolina Wealth Advisors LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 285 shares in the last quarter. Saban Cheryl boosted its position in shares of Alphabet by 1,900.0% during the third quarter. Saban Cheryl now owns 200 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 190 shares in the last quarter. Finally, Gould Capital LLC boosted its position in shares of Alphabet by 2,150.0% during the third quarter. Gould Capital LLC now owns 315 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 301 shares in the last quarter. 28.69% of the stock is currently owned by institutional investors.
Alphabet Stock Performance
NASDAQ:GOOG opened at $105.12 on Wednesday. The stock has a 50-day simple moving average of $98.11 and a two-hundred day simple moving average of $96.28. Alphabet Inc. has a 52-week low of $83.45 and a 52-week high of $143.59. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38. The firm has a market capitalization of $1.35 trillion, a PE ratio of 23.10, a P/E/G ratio of 1.44 and a beta of 1.10.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on GOOG. JPMorgan Chase & Co. set a $118.00 price target on Alphabet in a research report on Thursday, February 9th. Royal Bank of Canada set a $130.00 price objective on Alphabet in a research note on Friday, February 3rd. Oppenheimer lifted their price objective on Alphabet from $130.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, February 3rd. Bank of America boosted their price target on Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a research note on Tuesday, January 31st. Finally, Roth Capital restated a “buy” rating on shares of Alphabet in a research note on Friday, February 3rd. One investment analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.11.
Insider Buying and Selling at Alphabet
In other news, SVP Prabhakar Raghavan sold 32,379 shares of the company’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $103.46, for a total value of $3,349,931.34. Following the completion of the transaction, the senior vice president now owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, SVP Prabhakar Raghavan sold 32,379 shares of the company’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $103.46, for a total value of $3,349,931.34. Following the completion of the transaction, the senior vice president now owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 11,313 shares of the company’s stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $100.00, for a total value of $1,131,300.00. Following the completion of the transaction, the insider now directly owns 41,970 shares of the company’s stock, valued at approximately $4,197,000. The disclosure for this sale can be found here. Over the last quarter, insiders sold 112,192 shares of company stock valued at $11,373,417. Company insiders own 12.99% of the company’s stock.
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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