DORCHESTER WEALTH MANAGEMENT Co lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 4.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,930 shares of the information services provider’s stock after selling 960 shares during the quarter. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Alphabet were worth $1,670,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in GOOGL. Spreng Capital Management Inc. increased its stake in Alphabet by 4.0% in the first quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after purchasing an additional 5 shares in the last quarter. West Family Investments Inc. increased its stake in Alphabet by 0.3% in the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after purchasing an additional 6 shares in the last quarter. Maple Capital Management Inc. increased its stake in Alphabet by 2.1% in the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock valued at $823,000 after purchasing an additional 6 shares in the last quarter. Private Advisory Group LLC increased its stake in Alphabet by 1.8% in the first quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock valued at $1,115,000 after purchasing an additional 7 shares in the last quarter. Finally, Weik Capital Management increased its stake in Alphabet by 0.5% in the first quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after purchasing an additional 8 shares in the last quarter. Institutional investors own 34.06% of the company’s stock.
Alphabet Trading Up 0.1 %
GOOGL opened at $105.41 on Friday. The company’s 50 day moving average is $99.15 and its 200-day moving average is $96.44. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $125.40. The company has a current ratio of 2.38, a quick ratio of 2.34 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 PEG ratio of 1.46 and a beta of 1.10.
Insider Activity
In other news, SVP Prabhakar Raghavan sold 32,379 shares of the firm’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 value of $3,349,931.34. Following the sale, the senior vice president now directly owns 76,580 shares in the company, valued at approximately $7,922,966.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet 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 sale, the senior vice president now directly owns 76,580 shares in the company, valued at approximately $7,922,966.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The shares were acquired 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 disclosure for this purchase can be found here. In the last three months, insiders have sold 112,192 shares of company stock worth $11,373,417. Corporate insiders own 11.44% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group reissued a “buy” rating and set a $130.00 price objective on shares of Alphabet in a research report on Friday, February 10th. Stifel Nicolaus assumed coverage on shares of Alphabet in a research report on Monday, March 20th. They set a “buy” rating and a $130.00 price objective for the company. KeyCorp lowered their price objective 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. Morgan Stanley increased their price objective on shares of Alphabet from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, February 3rd. Finally, MKM Partners increased their price objective on shares of Alphabet from $120.00 to $126.00 in a research report on Friday, February 3rd. Four analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.30.
About Alphabet
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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