R. W. Roge & Company Inc. cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 20.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,800 shares of the information services provider’s stock after selling 1,000 shares during the period. Alphabet accounts for approximately 0.2% of R. W. Roge & Company Inc.’s investment portfolio, making the stock its 28th biggest holding. R. W. Roge & Company Inc.’s holdings in Alphabet were worth $335,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Willow Creek Wealth Management Inc. lifted its stake in Alphabet by 1,926.9% in the 3rd quarter. Willow Creek Wealth Management Inc. now owns 18,546 shares of the information services provider’s stock worth $1,774,000 after purchasing an additional 17,631 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in Alphabet in the third quarter valued at approximately $55,305,000. Griffin Asset Management Inc. raised its position in Alphabet by 1,900.0% in the third quarter. Griffin Asset Management Inc. now owns 52,240 shares of the information services provider’s stock valued at $4,997,000 after purchasing an additional 49,628 shares during the period. Bridgewater Advisors Inc. raised its position in Alphabet by 3,005.0% in the third quarter. Bridgewater Advisors Inc. now owns 67,503 shares of the information services provider’s stock valued at $6,457,000 after purchasing an additional 65,329 shares during the period. Finally, Adell Harriman & Carpenter Inc. raised its position in Alphabet by 1,915.2% in the third quarter. Adell Harriman & Carpenter Inc. now owns 129,797 shares of the information services provider’s stock valued at $12,415,000 after purchasing an additional 123,356 shares during the period. 34.06% of the stock is owned by institutional investors and hedge funds.
Alphabet Stock Down 1.4 %
NASDAQ:GOOGL opened at $104.50 on Wednesday. The company has a market cap of $1.34 trillion, a PE ratio of 22.96, a PEG ratio of 1.51 and a beta of 1.10. The stock has a 50-day simple moving average of $98.70 and a 200 day simple moving average of $96.21. 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 $83.34 and a 52-week high of $131.40.
Wall Street Analyst Weigh In
Several equities analysts have commented on GOOGL shares. Bank of America boosted their price target on shares of Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a research note on Tuesday, January 31st. Piper Sandler reduced their price target on shares of Alphabet from $120.00 to $117.00 and set an “outperform” rating for the company in a research report on Friday, March 31st. Morgan Stanley boosted their price target on shares of Alphabet from $125.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. New Street Research initiated coverage on shares of Alphabet in a report on Wednesday, January 4th. They issued a “buy” rating and a $118.00 target price for the company. Finally, Roth Capital restated a “buy” rating on shares of Alphabet in a research report on Friday, February 3rd. Four analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $131.17.
Insider Activity at Alphabet
In other Alphabet news, insider John Kent Walker sold 11,313 shares of the 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 owns 41,970 shares in the company, valued at $4,197,000. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider John Kent Walker sold 11,313 shares of the company’s stock in a transaction dated 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 document filed with the SEC, which can be accessed through this link. Also, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the firm’s 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 purchase, the insider now owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 112,192 shares of company stock valued at $11,373,417. Insiders own 11.44% of the company’s stock.
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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