Geneos Wealth Management Inc. cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 6.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 98,237 shares of the information services provider’s stock after selling 6,357 shares during the period. Geneos Wealth Management Inc.’s holdings in Alphabet were worth $8,717,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Financial Advisors Network Inc. increased its position in shares of Alphabet by 4.5% in the first 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 in the last quarter. Turim 21 Investimentos Ltda. raised its holdings 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 valued at $229,000 after buying an additional 8 shares during the period. West Michigan Advisors LLC boosted its holdings in Alphabet by 3.7% in the 1st 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 grew its position in Alphabet by 10.3% in the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after acquiring an additional 11 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC lifted its position in shares of Alphabet by 1.4% during the first 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 Price Performance
NASDAQ GOOG opened at $108.19 on Friday. Alphabet Inc. has a 52 week low of $83.45 and a 52 week high of $131.92. The stock has a market cap of $1.39 trillion, a price-to-earnings ratio of 23.77, a price-to-earnings-growth ratio of 1.48 and a beta of 1.10. The company has a 50-day moving average price of $99.01 and a two-hundred day moving average price of $96.55. The company has a current ratio of 2.38, a quick ratio of 2.34 and a debt-to-equity ratio of 0.06.
Insiders Place Their Bets
In other news, SVP Prabhakar Raghavan sold 32,379 shares of the company’s 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 owns 76,580 shares in the company, valued at $7,922,966.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The stock was purchased at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the purchase, the insider now owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Prabhakar Raghavan sold 32,379 shares of the business’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 transaction, the senior vice president now directly owns 76,580 shares in the company, valued at $7,922,966.80. The disclosure for this sale can be found here. Insiders sold 112,192 shares of company stock worth $11,373,417 over the last ninety days. Company insiders own 12.99% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have weighed in on GOOG shares. Roth Capital reissued a “buy” rating on shares of Alphabet in a research report on Friday, February 3rd. UBS Group increased their target price on Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research note on Thursday, April 6th. Piper Sandler cut their price target on shares of Alphabet from $122.00 to $120.00 and set an “overweight” rating on the stock in a report on Friday, February 3rd. Jefferies Financial Group set a $125.00 target price on shares of Alphabet in a research report on Friday, February 3rd. Finally, Sanford C. Bernstein set a $130.00 price target on shares of Alphabet in a research report on Monday, February 6th. One investment analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $135.24.
Alphabet 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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