Chapman Investment Management LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 86.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,355 shares of the information services provider’s stock after selling 67,025 shares during the period. Alphabet comprises 0.8% of Chapman Investment Management LLC’s investment portfolio, making the stock its 26th biggest position. Chapman Investment Management LLC’s holdings in Alphabet were worth $914,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Alphabet by 1,919.4% in 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 lifted 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 valued at $20,770,809,000 after acquiring an additional 206,300,042 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Alphabet by 1,759.2% in the third 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 buying an additional 109,870,525 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Alphabet by 1,955.0% in the third 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 buying an additional 58,159,150 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Alphabet by 1,896.9% during the third quarter. Bank of New York Mellon Corp now owns 58,060,946 shares of the information services provider’s stock valued at $5,553,529,000 after purchasing an additional 55,153,448 shares during the period. 34.06% of the stock is owned by institutional investors.
Alphabet Stock Performance
Shares of NASDAQ GOOGL opened at $111.75 on Thursday. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average is $102.74 and its two-hundred day moving average is $97.05. The company has a market cap of $1.42 trillion, a P/E ratio of 24.89, a P/E/G ratio of 1.35 and a beta of 1.10. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $122.43.
Insider Transactions at Alphabet
In related news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the company’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $14.13, for a total value of $1,423,908.36. Following the completion of the sale, the insider now owns 11,421,476 shares in the company, valued at $161,385,455.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $14.13, for a total transaction of $1,423,908.36. Following the completion of the transaction, the insider now directly owns 11,421,476 shares of the company’s stock, valued at $161,385,455.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the company’s stock in a transaction on Monday, March 13th. The stock was acquired at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the purchase, the insider now directly owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 732,217 shares of company stock worth $21,135,371 and sold 238,811 shares worth $15,576,939. 11.44% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
GOOGL has been the subject of several research analyst reports. Wells Fargo & Company raised their target price on shares of Alphabet from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. KeyCorp decreased their price objective on shares of Alphabet from $118.00 to $117.00 and set an “overweight” rating for the company in a report on Monday, January 30th. Roth Capital reissued a “buy” rating on shares of Alphabet in a research report on Friday, February 3rd. BNP Paribas raised shares of Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 price objective on the stock in a research report on Friday, March 17th. Finally, Oppenheimer lifted their price objective on shares of Alphabet from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 26th. 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $130.06.
Alphabet Company 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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