Fiduciary Group LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,755 shares of the information services provider’s stock after selling 1,830 shares during the quarter. Fiduciary Group LLC’s holdings in Alphabet were worth $5,713,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Bornite Capital Management LP purchased a new stake in shares of Alphabet during the first quarter worth about $16,688,000. Markel Corp grew its position in shares of Alphabet by 17.0% during the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after purchasing an additional 2,250 shares in the last quarter. United Bank grew its position in shares of Alphabet by 5.9% during the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after purchasing an additional 113 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of 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 purchasing an additional 61,427 shares in the last quarter. Finally, Dakota Wealth Management boosted its stake in Alphabet by 20.4% during the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after buying an additional 1,570 shares during the last quarter. Hedge funds and other institutional investors own 34.06% of the company’s stock.
Alphabet Trading Up 2.1 %
GOOGL opened at $107.77 on Tuesday. The firm has a market cap of $1.37 trillion, a price-to-earnings ratio of 24.00, a PEG ratio of 1.35 and a beta of 1.10. The company has a current ratio of 2.35, a quick ratio of 2.32 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $122.43. The stock has a fifty day moving average price of $101.97 and a 200-day moving average price of $96.90.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the company. Sanford C. Bernstein dropped their price target on Alphabet from $130.00 to $125.00 and set an “outperform” rating for the company in a research note on Thursday, April 20th. Stifel Nicolaus assumed coverage on Alphabet in a research note on Monday, March 20th. They set a “buy” rating and a $130.00 price target for the company. Needham & Company LLC reissued a “buy” rating and set a $115.00 price target on shares of Alphabet in a research note on Monday, April 3rd. Roth Capital reissued a “buy” rating on shares of Alphabet in a research note on Friday, February 3rd. Finally, KeyCorp dropped their price target 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 investment analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $130.06.
Insider Transactions at Alphabet
In related news, Director Kavitark Ram Shriram sold 37,500 shares of the company’s stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $105.04, for a total transaction of $3,939,000.00. Following the transaction, the director now directly owns 107,240 shares of the company’s stock, valued at approximately $11,264,489.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Kavitark Ram Shriram sold 37,500 shares of the company’s stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $105.04, for a total transaction of $3,939,000.00. Following the transaction, the director now directly owns 107,240 shares of the company’s stock, valued at approximately $11,264,489.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ann Mather sold 380 shares of the company’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $90.05, for a total value of $34,219.00. Following the transaction, the director now directly owns 11,300 shares in the company, valued at $1,017,565. The disclosure for this sale can be found here. In the last three months, insiders sold 138,039 shares of company stock valued at $14,153,031. 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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