Cantillon Capital Management LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,775,976 shares of the information services provider’s stock after selling 113,150 shares during the quarter. Alphabet accounts for 4.3% of Cantillon Capital Management LLC’s investment portfolio, making the stock its 4th largest holding. Cantillon Capital Management LLC’s holdings in Alphabet were worth $509,614,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. DC Investments Management LLC acquired a new position in Alphabet in the first quarter valued at approximately $114,000. Bridgefront Capital LLC acquired a new position in Alphabet in the first quarter valued at approximately $225,000. Worth Asset Management LLC acquired a new position in Alphabet in the first quarter valued at approximately $206,000. Eudaimonia Advisors LLC lifted its stake in Alphabet by 15.1% in the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock valued at $275,000 after buying an additional 13 shares during the period. Finally, Aspire Capital Advisors LLC acquired a new position in Alphabet in the first quarter valued at approximately $281,000. 34.06% of the stock is owned by institutional investors and hedge funds.
Alphabet Price Performance
Shares of NASDAQ GOOGL opened at $105.32 on Wednesday. The firm has a market capitalization of $1.35 trillion, a P/E ratio of 23.46, a P/E/G ratio of 1.39 and a beta of 1.10. The company has a quick ratio of 2.34, a current ratio of 2.35 and a debt-to-equity ratio of 0.05. The stock’s 50-day simple moving average is $100.73 and its two-hundred day simple moving average is $96.74. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $122.85.
Insiders Place Their Bets
In other news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of Alphabet stock in a transaction dated Monday, March 13th. The shares were purchased at an average cost of $29.29 per share, for a total transaction 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 purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP Prabhakar Raghavan sold 32,379 shares of the 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 in the company, valued at approximately $7,922,966.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of Alphabet stock in a transaction dated Monday, March 13th. The shares were purchased 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 directly owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The disclosure for this purchase can be found here. Insiders have sold 100,539 shares of company stock worth $10,214,031 in the last ninety days. 11.44% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
GOOGL has been the subject of several recent research reports. Rosenblatt Securities decreased their price objective on Alphabet from $130.00 to $128.00 and set a “buy” rating for the company in a report on Friday, February 3rd. Barclays boosted their price objective on Alphabet from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, February 3rd. Roth Capital reiterated a “buy” rating on shares of Alphabet in a report on Friday, February 3rd. Piper Sandler upped their price target on Alphabet from $117.00 to $128.00 and gave the stock an “overweight” rating in a report on Wednesday, April 26th. Finally, KeyCorp decreased their price target on Alphabet from $118.00 to $117.00 and set an “overweight” rating for the company in a report on Monday, January 30th. Three analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $130.06.
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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