Cambridge Advisors Inc. reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 3.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 9,722 shares of the information services provider’s stock after selling 350 shares during the period. Cambridge Advisors Inc.’s holdings in Alphabet were worth $858,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also bought and sold shares of GOOGL. IAG Wealth Partners LLC boosted its stake in 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 in the last quarter. Artemis Wealth Advisors LLC boosted its position in shares of Alphabet by 1,900.0% during the 3rd quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 266 shares in the last quarter. Laurel Wealth Planning LLC boosted its position in shares of Alphabet by 1,900.0% during the 3rd quarter. Laurel Wealth Planning 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. Coston McIsaac & Partners grew its stake in shares of Alphabet by 1,900.0% in the 3rd quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock worth $30,000 after purchasing an additional 304 shares during the last quarter. Finally, Horizons Wealth Management bought a new stake in shares of Alphabet in the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 34.06% of the company’s stock.
Alphabet Trading Up 0.3 %
Shares of GOOGL stock opened at $104.72 on Wednesday. The company has a market cap of $1.34 trillion, a PE ratio of 23.01, a price-to-earnings-growth ratio of 1.43 and a beta of 1.10. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $142.99. The business’s 50 day moving average is $97.57 and its two-hundred day moving average is $95.76. 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
In related 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 shares were acquired at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the purchase, the insider now directly owns 1,709,527 shares in the company, valued at $50,072,045.83. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Ann Mather sold 340 shares of Alphabet stock in a transaction that occurred on Wednesday, January 25th. The shares were sold at an average price of $96.92, for a total value of $32,952.80. Following the completion of the transaction, the director now owns 11,300 shares in the company, valued at $1,095,196. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 shares were acquired at an average price of $29.29 per share, for a total transaction 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 ninety days, insiders have sold 112,192 shares of company stock worth $11,373,417. Company insiders own 11.44% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on GOOGL shares. MKM Partners raised their target price on shares of Alphabet from $120.00 to $126.00 in a report on Friday, February 3rd. Morgan Stanley lifted their target price on Alphabet from $125.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Stifel Nicolaus began coverage on Alphabet in a report on Monday, March 20th. They set a “buy” rating and a $130.00 target price for the company. Truist Financial decreased their price target on Alphabet from $130.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, February 3rd. Finally, Evercore ISI cut their price objective on Alphabet from $130.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, December 21st. Four investment analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $131.39.
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.
Further Reading
- Get a free copy of the StockNews.com research report on Alphabet (GOOGL)
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