McKinley Carter Wealth Services Inc. grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,829 shares of the information services provider’s stock after purchasing an additional 1,095 shares during the period. McKinley Carter Wealth Services Inc.’s holdings in Alphabet were worth $6,602,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the company. Spreng Capital Management Inc. increased its position in shares of Alphabet by 4.0% in the first quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock worth $364,000 after acquiring an additional 5 shares in the last quarter. West Family Investments Inc. increased its position in shares of Alphabet by 0.3% in the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock worth $4,878,000 after acquiring an additional 6 shares in the last quarter. Maple Capital Management Inc. increased its position in shares of Alphabet by 2.1% in the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock worth $823,000 after acquiring an additional 6 shares in the last quarter. Private Advisory Group LLC increased its position in shares of Alphabet by 1.8% in the first quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock worth $1,115,000 after acquiring an additional 7 shares in the last quarter. Finally, Weik Capital Management increased its position in shares of Alphabet by 0.5% in the first quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock worth $4,264,000 after acquiring an additional 8 shares in the last quarter. Hedge funds and other institutional investors own 34.06% of the company’s stock.
Alphabet Stock Performance
Alphabet stock opened at $116.57 on Friday. The firm’s 50 day simple moving average is $103.23 and its 200-day simple moving average is $97.19. The company has a market cap of $1.48 trillion, a P/E ratio of 25.96, a price-to-earnings-growth ratio of 1.35 and a beta of 1.10. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.32. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $122.43.
Insider Buying and Selling
In related news, SVP Prabhakar Raghavan sold 32,379 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $103.46, for a total transaction of $3,349,931.34. Following the completion of the sale, the senior vice president now directly owns 76,580 shares in the company, valued at $7,922,966.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction that occurred on Monday, April 3rd. The shares were 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 directly owns 76,580 shares in the company, valued at $7,922,966.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ann Mather sold 380 shares of Alphabet stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $90.05, for a total transaction of $34,219.00. Following the completion of the sale, the director now owns 11,300 shares of the company’s stock, valued at $1,017,565. The disclosure for this sale can be found here. Over the last three months, insiders purchased 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
A number of equities research analysts recently weighed in on the stock. Loop Capital raised their price target on shares of Alphabet from $120.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, February 8th. Citigroup raised their price target on shares of Alphabet from $120.00 to $130.00 in a report on Wednesday, April 26th. Barclays raised their price target on shares of Alphabet from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, February 3rd. JMP Securities reaffirmed a “market outperform” rating and set a $132.00 price target on shares of Alphabet in a report on Thursday, March 16th. Finally, Robert W. Baird raised their price target on shares of Alphabet from $120.00 to $123.00 and gave the company an “outperform” rating in a report on Wednesday, April 26th. Three analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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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