Phillips Financial Management LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 36.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,676 shares of the information services provider’s stock after purchasing an additional 979 shares during the quarter. Phillips Financial Management LLC’s holdings in Alphabet were worth $324,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Bornite Capital Management LP acquired a new position in shares of Alphabet during the first quarter valued at about $16,688,000. Markel Corp raised its position in shares of Alphabet by 17.0% during the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after buying an additional 2,250 shares during the last quarter. United Bank raised its position in shares of Alphabet by 5.9% during the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after buying an additional 113 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Alphabet by 23.4% during 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 increased its position in shares of Alphabet by 20.4% during 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. 34.06% of the stock is owned by institutional investors and hedge funds.
Alphabet Stock Up 3.8 %
Alphabet stock opened at $108.42 on Friday. The firm has a market capitalization of $1.39 trillion, a price-to-earnings ratio of 23.83, a PEG ratio of 1.45 and a beta of 1.10. The company’s 50 day simple moving average is $98.16 and its 200 day simple moving average is $95.95. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $137.16.
Wall Street Analysts Forecast Growth
GOOGL has been the topic of a number of research reports. Rosenblatt Securities lowered their price objective on Alphabet from $130.00 to $128.00 and set a “buy” rating on the stock in a research report on Friday, February 3rd. Stifel Nicolaus began coverage on shares of Alphabet in a research report on Monday, March 20th. They set a “buy” rating and a $130.00 target price on the stock. Truist Financial decreased their target price on shares of Alphabet from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, February 3rd. Piper Sandler cut their target price on Alphabet from $120.00 to $117.00 and set an “outperform” rating for the company in a research report on Friday, March 31st. Finally, MKM Partners raised their target price on Alphabet from $120.00 to $126.00 in a research report on Friday, February 3rd. Four research analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $131.17.
Insider Transactions at Alphabet
In other news, insider John Kent Walker sold 11,313 shares of the firm’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 sale, the insider now owns 41,970 shares of the company’s stock, valued at $4,197,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the stock in a transaction dated Monday, March 13th. The stock was bought at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the transaction, the insider now directly owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 transaction, the insider now directly owns 41,970 shares of the company’s stock, valued at $4,197,000. The disclosure for this sale can be found here. Insiders have sold a total of 112,192 shares of company stock valued at $11,373,417 over the last three months. 11.44% of the stock is currently owned by corporate insiders.
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.
Further Reading
- Get a free copy of the StockNews.com research report on Alphabet (GOOGL)
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