FRG Family Wealth Advisors LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 11.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,540 shares of the information services provider’s stock after selling 600 shares during the period. FRG Family Wealth Advisors LLC’s holdings in Alphabet were worth $403,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the company. Financial Advisors Network Inc. grew its holdings in Alphabet by 4.5% during the 1st quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock worth $450,000 after acquiring an additional 7 shares during the last quarter. Turim 21 Investimentos Ltda. grew its holdings in Alphabet by 10.8% during the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after acquiring an additional 8 shares during the last quarter. West Michigan Advisors LLC boosted its stake in shares of Alphabet by 3.7% in the 1st quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock valued at $704,000 after purchasing an additional 9 shares during the last quarter. Somerville Kurt F boosted its stake in shares of Alphabet by 10.3% in the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after purchasing an additional 11 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC boosted its stake in shares of Alphabet by 1.4% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock valued at $3,301,000 after purchasing an additional 16 shares during the last quarter. 28.69% of the stock is owned by institutional investors.
Alphabet Price Performance
NASDAQ GOOG opened at $108.90 on Friday. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 12-month low of $83.45 and a 12-month high of $137.70. The company has a market capitalization of $1.39 trillion, a PE ratio of 23.93, a price-to-earnings-growth ratio of 1.45 and a beta of 1.10. The firm’s 50 day moving average is $98.46 and its 200-day moving average is $96.42.
Insider Activity
In other news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The stock was acquired at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the purchase, the insider now owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The stock was acquired at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the purchase, the insider now owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Prabhakar Raghavan sold 32,379 shares of the firm’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $103.46, for a total transaction 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 $7,922,966.80. The disclosure for this sale can be found here. Insiders have sold 112,192 shares of company stock worth $11,373,417 over the last ninety days. Insiders own 12.99% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on GOOG. Piper Sandler reduced their target price on shares of Alphabet from $122.00 to $120.00 and set an “overweight” rating on the stock in a research note on Friday, February 3rd. Bank of America raised their target price on shares of Alphabet from $116.00 to $119.00 and gave the company a “buy” rating in a research note on Tuesday, January 31st. The Goldman Sachs Group set a $128.00 target price on shares of Alphabet in a research note on Friday, February 3rd. Cowen reduced their target price on shares of Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 11th. Finally, Credit Suisse Group set a $136.00 target price on shares of Alphabet in a research note on Friday, February 3rd. One research analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $135.24.
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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