Thrive Wealth Management LLC reduced its position in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 18.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,209 shares of the information services provider’s stock after selling 2,748 shares during the quarter. Thrive Wealth Management LLC’s holdings in Alphabet were worth $1,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of GOOG. Vanguard Group Inc. boosted its position in shares of Alphabet by 1,885.5% in the third quarter. Vanguard Group Inc. now owns 422,194,039 shares of the information services provider’s stock worth $40,593,957,000 after purchasing an additional 400,930,216 shares during the period. BlackRock Inc. lifted its holdings in shares of Alphabet by 1,857.3% in the third quarter. BlackRock Inc. now owns 364,589,580 shares of the information services provider’s stock worth $35,055,286,000 after buying an additional 345,962,033 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Alphabet by 1,770.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 203,484,912 shares of the information services provider’s stock worth $19,639,414,000 after buying an additional 192,607,045 shares in the last quarter. State Street Corp lifted its holdings in shares of Alphabet by 1,851.7% in the third quarter. State Street Corp now owns 196,897,894 shares of the information services provider’s stock worth $18,931,733,000 after buying an additional 186,809,281 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Alphabet by 1,862.3% in the third quarter. Alliancebernstein L.P. now owns 63,184,850 shares of the information services provider’s stock worth $6,075,223,000 after buying an additional 59,964,963 shares in the last quarter. 28.69% of the stock is currently owned by institutional investors.
Alphabet Trading Down 0.2 %
Shares of GOOG opened at $104.95 on Thursday. Alphabet Inc. has a twelve month low of $83.45 and a twelve month high of $139.85. The company has a market cap of $1.34 trillion, a P/E ratio of 23.06, a P/E/G ratio of 1.44 and a beta of 1.10. 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’s fifty day simple moving average is $98.27 and its 200-day simple moving average is $96.34.
Insider Activity
In other news, insider John Kent Walker sold 11,313 shares of the company’s stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $100.00, for a total value of $1,131,300.00. Following the transaction, the insider now directly owns 41,970 shares in the company, valued at $4,197,000. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Ann Mather sold 340 shares of the company’s stock in a transaction dated Wednesday, January 25th. The shares were sold at an average price of $96.92, for a total value of $32,952.80. Following the transaction, the director now directly owns 11,300 shares in the company, valued at $1,095,196. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 transaction of $1,131,300.00. Following the completion of the transaction, the insider now owns 41,970 shares in the company, valued at $4,197,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 112,192 shares of company stock valued at $11,373,417. 12.99% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
GOOG has been the topic of several research analyst reports. Bank of America boosted their target price on shares of Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a report on Tuesday, January 31st. Raymond James boosted their target price on shares of Alphabet from $116.00 to $119.00 and gave the stock an “outperform” rating in a report on Friday, February 3rd. The Goldman Sachs Group set a $128.00 target price on shares of Alphabet in a report on Friday, February 3rd. JPMorgan Chase & Co. set a $118.00 target price on shares of Alphabet in a report on Thursday, February 9th. Finally, Royal Bank of Canada set a $130.00 target price on shares of Alphabet in a report on Friday, February 3rd. One investment analyst has rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $135.11.
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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