KCM Investment Advisors LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 2.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 276,272 shares of the information services provider’s stock after selling 6,203 shares during the quarter. Alphabet comprises approximately 1.0% of KCM Investment Advisors LLC’s investment portfolio, making the stock its 26th biggest holding. KCM Investment Advisors LLC’s holdings in Alphabet were worth $24,375,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Bornite Capital Management LP acquired a new stake in Alphabet during the 1st quarter worth approximately $16,688,000. Markel Corp raised its holdings in shares of Alphabet by 17.0% in the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after purchasing an additional 2,250 shares during the last quarter. United Bank raised its holdings in shares of Alphabet by 5.9% in the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after purchasing an additional 113 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Alphabet by 23.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after buying an additional 61,427 shares during the last quarter. Finally, Dakota Wealth Management increased its holdings in Alphabet by 20.4% during the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after buying an additional 1,570 shares during the last quarter. Institutional investors own 34.06% of the company’s stock.
Alphabet Stock Up 0.1 %
Shares of NASDAQ GOOGL opened at $105.41 on Friday. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $125.40. The business has a 50-day simple moving average of $98.94 and a two-hundred day simple moving average of $96.39. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06. The company has a market cap of $1.35 trillion, a P/E ratio of 23.16, a P/E/G ratio of 1.45 and a beta of 1.10.
Insider Activity
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 shares were bought at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the acquisition, the insider now owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Prabhakar Raghavan sold 32,379 shares of the firm’s stock in a transaction dated Monday, April 3rd. The stock was 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 of the company’s stock, valued at approximately $7,922,966.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the firm’s stock in a transaction on Monday, March 13th. The stock was bought at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the purchase, the insider now directly owns 1,709,527 shares in the company, valued at $50,072,045.83. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 112,192 shares of company stock worth $11,373,417. 11.44% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on GOOGL shares. Bank of America boosted their target price on shares of Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a report on Tuesday, January 31st. Roth Capital reissued a “buy” rating on shares of Alphabet in a research report on Friday, February 3rd. Wells Fargo & Company boosted their target price on shares of Alphabet from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. KeyCorp reduced their target price on shares of Alphabet from $118.00 to $117.00 and set an “overweight” rating for the company in a research report on Monday, January 30th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $130.00 target price on shares of Alphabet in a research report on Friday, February 10th. Four investment analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $131.30.
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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