Concourse Financial Group Securities Inc. purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 23,922 shares of the information services provider’s stock, valued at approximately $2,123,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in GOOG. Monarch Capital Management Inc. grew its holdings in Alphabet by 4.0% in the 4th quarter. Monarch Capital Management Inc. now owns 40,712 shares of the information services provider’s stock valued at $3,612,000 after buying an additional 1,562 shares during the last quarter. Walled Lake Planning & Wealth Management LLC grew its holdings in Alphabet by 1,900.0% in the 3rd quarter. Walled Lake Planning & Wealth Management LLC now owns 34,120 shares of the information services provider’s stock valued at $3,281,000 after buying an additional 32,414 shares during the last quarter. Grand Jean Capital Management Inc. grew its holdings in Alphabet by 1,926.2% in the 3rd quarter. Grand Jean Capital Management Inc. now owns 137,135 shares of the information services provider’s stock valued at $13,186,000 after buying an additional 130,367 shares during the last quarter. Connecticut Wealth Management LLC grew its holdings in Alphabet by 1,415.4% in the 3rd quarter. Connecticut Wealth Management LLC now owns 8,350 shares of the information services provider’s stock valued at $803,000 after buying an additional 7,799 shares during the last quarter. Finally, Matthew Goff Investment Advisor LLC grew its holdings in Alphabet by 4.2% in the 4th quarter. Matthew Goff Investment Advisor LLC now owns 7,380 shares of the information services provider’s stock valued at $655,000 after buying an additional 300 shares during the last quarter. 28.69% of the stock is owned by hedge funds and other institutional investors.
Alphabet Trading Down 0.8 %
Shares of GOOG opened at $105.22 on Thursday. The stock has a fifty day moving average price of $98.93 and a two-hundred day moving average price of $96.49. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38. Alphabet Inc. has a 52-week low of $83.45 and a 52-week high of $131.92. The company has a market cap of $1.35 trillion, a price-to-earnings ratio of 23.12, a PEG ratio of 1.48 and a beta of 1.10.
Insider Activity
In other news, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $103.46, for a total value of $3,349,931.34. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $103.46, for a total value of $3,349,931.34. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 11,313 shares of Alphabet stock in a transaction 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 completion of the sale, 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. In the last ninety days, insiders sold 112,192 shares of company stock valued at $11,373,417. Company insiders own 12.99% of the company’s stock.
Analysts Set New Price Targets
GOOG has been the topic of a number of research analyst reports. JPMorgan Chase & Co. set a $118.00 target price on Alphabet in a report on Thursday, February 9th. Credit Suisse Group set a $136.00 price objective on Alphabet in a research report on Friday, February 3rd. Raymond James raised their price objective on Alphabet from $116.00 to $119.00 and gave the stock an “outperform” rating in a research report on Friday, February 3rd. Sanford C. Bernstein set a $130.00 price objective on Alphabet in a research report on Monday, February 6th. Finally, Bank of America raised their price objective on Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a research report on Tuesday, January 31st. One analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.
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