Tower Bridge Advisors trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 2.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 174,452 shares of the information services provider’s stock after selling 3,696 shares during the period. Alphabet comprises 1.3% of Tower Bridge Advisors’ investment portfolio, making the stock its 22nd largest position. Tower Bridge Advisors’ holdings in Alphabet were worth $15,392,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the company. IAG Wealth Partners LLC increased its stake in Alphabet by 3,275.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock worth $26,000 after purchasing an additional 262 shares during the period. Artemis Wealth Advisors LLC increased its stake in Alphabet by 1,900.0% in the 3rd quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock worth $27,000 after purchasing an additional 266 shares during the period. Laurel Wealth Planning LLC increased its stake in Alphabet by 1,900.0% in the 3rd quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock worth $29,000 after purchasing an additional 285 shares during the period. Coston McIsaac & Partners increased its stake in Alphabet by 1,900.0% in the 3rd quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock worth $30,000 after purchasing an additional 304 shares during the period. Finally, McElhenny Sheffield Capital Management LLC purchased a new position in Alphabet in the 4th quarter worth approximately $33,000. 34.06% of the stock is owned by hedge funds and other institutional investors.
Alphabet Trading Up 1.3 %
Shares of NASDAQ:GOOGL opened at $108.87 on Friday. The company has a market cap of $1.39 trillion, a P/E ratio of 23.92, a PEG ratio of 1.45 and a beta of 1.10. 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 1 year low of $83.34 and a 1 year high of $131.40. The stock’s fifty day moving average price is $98.64 and its 200-day moving average price is $96.18.
Analyst Ratings Changes
Several research firms have recently issued reports on GOOGL. Morgan Stanley boosted their target price on Alphabet from $125.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. Bank of America boosted their target price on Alphabet from $116.00 to $119.00 and gave the company a “buy” rating in a research note on Tuesday, January 31st. Needham & Company LLC reissued a “buy” rating and set a $115.00 target price on shares of Alphabet in a research note on Monday, April 3rd. JMP Securities reissued a “market outperform” rating and set a $132.00 target price on shares of Alphabet in a research note on Thursday, March 16th. Finally, Roth Capital reissued a “buy” rating on shares of Alphabet in a research note on Friday, February 3rd. Four analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $131.17.
Insider Activity at Alphabet
In other news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of Alphabet stock in a transaction that occurred on Monday, March 13th. The stock was bought at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the transaction, the insider now owns 1,709,527 shares in the company, valued at $50,072,045.83. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 32,379 shares of the company’s stock in a transaction dated 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 document filed with the SEC, which is accessible through this link. Also, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of Alphabet stock in a transaction on 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 transaction, the insider now owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 112,192 shares of company stock worth $11,373,417. 11.44% of the stock is owned by insiders.
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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