Ibex Wealth Advisors trimmed its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 3.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,652 shares of the information services provider’s stock after selling 1,826 shares during the period. Ibex Wealth Advisors’ holdings in Alphabet were worth $4,469,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in GOOGL. VitalStone Financial LLC bought a new position in shares of Alphabet in the 4th quarter worth $25,000. IAG Wealth Partners LLC raised its position in shares of Alphabet by 3,275.0% in the 3rd quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock worth $26,000 after acquiring an additional 262 shares in the last quarter. Artemis Wealth Advisors LLC raised its position in shares of Alphabet by 1,900.0% in the 3rd quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock worth $27,000 after acquiring an additional 266 shares in the last quarter. Laurel Wealth Planning LLC raised its position in shares of Alphabet by 1,900.0% in the 3rd quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock worth $29,000 after acquiring an additional 285 shares in the last quarter. Finally, Coston McIsaac & Partners raised its position in shares of Alphabet by 1,900.0% in the 3rd quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock worth $30,000 after acquiring an additional 304 shares in the last quarter. 34.06% of the stock is owned by institutional investors.
Alphabet Stock Performance
NASDAQ GOOGL opened at $105.32 on Wednesday. The company has a market cap of $1.35 trillion, a PE ratio of 23.46, a price-to-earnings-growth ratio of 1.39 and a beta of 1.10. The stock’s 50 day simple moving average is $100.73 and its 200-day simple moving average is $96.74. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $122.85. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.34.
Analyst Upgrades and Downgrades
Several research firms have recently commented on GOOGL. Piper Sandler boosted their price target on Alphabet from $117.00 to $128.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 26th. Morgan Stanley boosted their target price on Alphabet from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 26th. Loop Capital boosted their target price on Alphabet from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, February 8th. Truist Financial boosted their target price on Alphabet from $120.00 to $122.00 and gave the stock a “buy” rating in a research note on Wednesday, April 26th. Finally, Roth Capital restated a “buy” rating on shares of Alphabet in a research note on Friday, February 3rd. Three investment analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $130.06.
Insider Activity at Alphabet
In related news, SVP Prabhakar Raghavan sold 32,379 shares of the stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $103.46, for a total value of $3,349,931.34. Following the completion of the sale, the senior vice president now owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Prabhakar Raghavan sold 32,379 shares of the stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $103.46, for a total value of $3,349,931.34. Following the completion of the sale, the senior vice president now owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ann Mather sold 380 shares of the stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $90.05, for a total value of $34,219.00. Following the completion of the sale, the director now directly owns 11,300 shares of the company’s stock, valued at approximately $1,017,565. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,539 shares of company stock valued at $10,214,031. 11.44% of the stock is currently owned by insiders.
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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