Total Clarity Wealth Management Inc. cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 8.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,358 shares of the information services provider’s stock after selling 2,006 shares during the quarter. Alphabet makes up about 1.0% of Total Clarity Wealth Management Inc.’s investment portfolio, making the stock its 19th largest position. Total Clarity Wealth Management Inc.’s holdings in Alphabet were worth $1,884,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of GOOGL. Vanguard Group Inc. grew its position in Alphabet by 1,919.4% during the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after acquiring an additional 453,413,389 shares during the last quarter. State Street Corp grew its position in Alphabet by 1,900.6% during the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after acquiring an additional 206,300,042 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Alphabet by 1,759.2% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock worth $11,106,502,000 after acquiring an additional 109,870,525 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Alphabet by 1,955.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 61,134,061 shares of the information services provider’s stock worth $5,847,474,000 after acquiring an additional 58,159,150 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Alphabet by 1,896.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 58,060,946 shares of the information services provider’s stock worth $5,553,529,000 after acquiring an additional 55,153,448 shares during the last quarter. 34.06% of the stock is currently owned by institutional investors.
Alphabet Stock Down 0.1 %
Shares of NASDAQ GOOGL opened at $107.20 on Tuesday. The company has a quick ratio of 2.34, a current ratio of 2.35 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $122.85. The firm has a 50-day moving average price of $100.46 and a 200 day moving average price of $96.68. The stock has a market capitalization of $1.37 trillion, a price-to-earnings ratio of 23.88, a price-to-earnings-growth ratio of 1.39 and a beta of 1.10.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on the company. Morgan Stanley increased their price objective on Alphabet from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Wednesday, April 26th. New Street Research assumed coverage on Alphabet in a report on Wednesday, January 4th. They issued a “buy” rating and a $118.00 price objective for the company. Credit Suisse Group dropped their price objective on Alphabet from $136.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, April 26th. Loop Capital increased their price objective on Alphabet from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, February 8th. Finally, KeyCorp lowered their target price on Alphabet from $118.00 to $117.00 and set an “overweight” rating for the company in a research note on Monday, January 30th. Three analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $130.06.
Insider Buying and Selling at Alphabet
In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of Alphabet stock in a transaction on Monday, March 13th. The shares were bought at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the acquisition, the insider now directly owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the business’s stock in a transaction dated Monday, March 13th. The stock was acquired at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the transaction, the insider now directly owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 637 shares of the business’s stock in a transaction that occurred on Wednesday, February 1st. The shares were sold at an average price of $99.87, for a total transaction of $63,617.19. Following the completion of the transaction, the chief accounting officer now directly owns 25,282 shares of the company’s stock, valued at approximately $2,524,913.34. The disclosure for this sale can be found here. Insiders have sold 100,539 shares of company stock valued at $10,209,164 over the last quarter. Corporate insiders own 11.44% of the company’s stock.
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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