Chiron Capital Management LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 2,817 shares of the information services provider’s stock, valued at approximately $249,000.
A number of other hedge funds have also recently added to or reduced their stakes in GOOGL. Bornite Capital Management LP acquired a new stake in Alphabet in the first quarter valued at about $16,688,000. Markel Corp lifted its position in Alphabet by 17.0% in the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after purchasing an additional 2,250 shares during the period. United Bank lifted its position in Alphabet by 5.9% in the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after purchasing an additional 113 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Alphabet by 23.4% in 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 purchasing an additional 61,427 shares during the period. Finally, Dakota Wealth Management lifted its position in Alphabet by 20.4% in the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after purchasing an additional 1,570 shares during the period. Institutional investors and hedge funds own 34.06% of the company’s stock.
Alphabet Stock Up 0.3 %
Shares of Alphabet stock opened at $104.72 on Wednesday. The company has a fifty day moving average price of $97.57 and a 200 day moving average price of $95.76. The company has a current ratio of 2.38, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $142.99. The stock has a market cap of $1.34 trillion, a price-to-earnings ratio of 23.01, a price-to-earnings-growth ratio of 1.43 and a beta of 1.10.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the stock. New Street Research assumed coverage on shares of Alphabet in a report on Wednesday, January 4th. They issued a “buy” rating and a $118.00 target price for the company. Loop Capital increased their target price on shares of Alphabet from $120.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, February 8th. Wells Fargo & Company increased their target price on shares of Alphabet from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, February 3rd. BNP Paribas raised shares of Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 target price for the company in a report on Friday, March 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 target price on shares of Alphabet in a report on Monday. Four investment analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $131.39.
Insider Buying and Selling
In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 1,709,527 shares in the company, valued at $50,072,045.83. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 32,379 shares of the company’s stock in a transaction dated Monday, April 3rd. The shares were 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 directly owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the firm’s stock in a transaction on 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 transaction, the insider now owns 1,709,527 shares in the company, valued at $50,072,045.83. The disclosure for this purchase can be found here. In the last three months, insiders sold 112,192 shares of company stock valued at $11,373,417. Company insiders own 11.44% of the company’s stock.
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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