Granite Bay Wealth Management LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 23.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,800 shares of the information services provider’s stock after acquiring an additional 540 shares during the quarter. Granite Bay Wealth Management LLC’s holdings in Alphabet were worth $248,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the stock. Financial Advisors Network Inc. boosted its holdings in Alphabet by 4.5% in the 1st quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock valued at $450,000 after purchasing an additional 7 shares during the period. Turim 21 Investimentos Ltda. lifted its stake in shares of 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 buying an additional 8 shares during the last quarter. West Michigan Advisors LLC boosted its holdings in shares of Alphabet by 3.7% during the first quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock worth $704,000 after acquiring an additional 9 shares during the period. Somerville Kurt F increased its position in Alphabet by 10.3% during the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after buying an additional 11 shares during the period. Finally, Stonebridge Capital Advisors LLC raised its stake in Alphabet by 1.4% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock worth $3,301,000 after purchasing an additional 16 shares in the last quarter. 28.69% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Trading Up 3.8 %
Shares of Alphabet stock opened at $108.90 on Friday. The stock has a market capitalization of $1.39 trillion, a P/E ratio of 23.93, a P/E/G ratio of 1.51 and a beta of 1.10. Alphabet Inc. has a 52-week low of $83.45 and a 52-week high of $137.70. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38. The stock’s 50-day simple moving average is $98.63 and its 200 day simple moving average is $96.42.
Insider Buying and Selling at Alphabet
In other news, insider John Kent Walker sold 11,313 shares of Alphabet stock in a transaction on 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 in the company, valued at $4,197,000. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Prabhakar Raghavan sold 32,379 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 11,313 shares of the firm’s stock in a transaction on Monday, January 23rd. The shares were 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 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 112,192 shares of company stock valued at $11,373,417 in the last 90 days. 12.99% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Several brokerages have recently commented on GOOG. Bank of America boosted their target price on shares of Alphabet from $116.00 to $119.00 and gave the company a “buy” rating in a research report on Tuesday, January 31st. Jefferies Financial Group set a $125.00 target price on shares of Alphabet in a report on Friday, February 3rd. Sanford C. Bernstein set a $130.00 price target on shares of Alphabet in a report on Monday, February 6th. Cowen dropped their price objective on Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 11th. Finally, Royal Bank of Canada set a $130.00 target price on shares of Alphabet in a research note on Friday, February 3rd. One investment analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.24.
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.
Featured Articles
- Get a free copy of the StockNews.com research report on Alphabet (GOOG)
- MarketBeat Week in Review – 4/3 – 4/7
- Costco Sales Disappoint, Markets Are Missing This Upside Driver
- First Republic Bank Is A Speculative Play, Here’s Why
- The WD-40 Company Bottoms With Reversal In Sight
- 3 Low-Cost Stock ETFs That Are Crushing It This Year
Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG – Get Rating).
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.
