Forum Financial Management LP lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,144 shares of the information services provider’s stock after buying an additional 1,678 shares during the quarter. Forum Financial Management LP’s holdings in Alphabet were worth $4,160,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of GOOGL. Spreng Capital Management Inc. raised its holdings in shares of Alphabet by 4.0% in the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after purchasing an additional 5 shares during the period. West Family Investments Inc. boosted its holdings in shares of Alphabet by 0.3% during the 1st quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock worth $4,878,000 after buying an additional 6 shares during the period. Maple Capital Management Inc. boosted its holdings in shares of Alphabet by 2.1% during the 1st quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock worth $823,000 after buying an additional 6 shares during the period. Private Advisory Group LLC boosted its holdings in shares of Alphabet by 1.8% during the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock worth $1,115,000 after buying an additional 7 shares during the period. Finally, Weik Capital Management boosted its holdings in shares of Alphabet by 0.5% during the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock worth $4,264,000 after buying an additional 8 shares during the period. Institutional investors and hedge funds own 34.06% of the company’s stock.
Alphabet Trading Up 3.8 %
NASDAQ GOOGL opened at $108.42 on Friday. The business’s 50-day moving average price is $98.16 and its two-hundred day moving average price is $95.95. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $137.16. The firm has a market capitalization of $1.39 trillion, a PE ratio of 23.83, a price-to-earnings-growth ratio of 1.45 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.
Analysts Set New Price Targets
Several research firms recently weighed in on GOOGL. Loop Capital lifted their price target on Alphabet from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, February 8th. Piper Sandler dropped their price target on Alphabet from $120.00 to $117.00 and set an “outperform” rating for the company in a report on Friday, March 31st. Truist Financial lowered their price target 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. StockNews.com initiated coverage on shares of Alphabet in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Finally, Bank of America raised their price target on shares of Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a research report on Tuesday, January 31st. Four research 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. Based on data from MarketBeat, the stock presently 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 business’s stock in a transaction that occurred on 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 owns 41,970 shares in the company, valued at approximately $4,197,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider John Kent Walker sold 11,313 shares of Alphabet 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 completion of the transaction, the insider now directly owns 41,970 shares of the company’s stock, valued at approximately $4,197,000. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 32,379 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $103.46, for a total transaction of $3,349,931.34. Following the sale, the senior vice president now directly owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 112,192 shares of company stock worth $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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