KCS Wealth Advisory trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 3.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,659 shares of the information services provider’s stock after selling 209 shares during the quarter. KCS Wealth Advisory’s holdings in Alphabet were worth $588,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Spreng Capital Management Inc. boosted 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 during the last quarter. West Family Investments Inc. boosted 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 during the last quarter. Maple Capital Management Inc. boosted 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 during the last quarter. Private Advisory Group LLC boosted 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 during the last quarter. Finally, Weik Capital Management boosted 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 during the last quarter. 34.06% of the stock is owned by institutional investors and hedge funds.
Alphabet Trading Up 4.3 %
NASDAQ GOOGL opened at $116.57 on Friday. The stock’s 50-day moving average is $103.23 and its 200-day moving average is $97.19. Alphabet Inc. has a one year low of $83.34 and a one year high of $122.43. The firm has a market cap of $1.48 trillion, a P/E ratio of 25.96, a P/E/G 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.
Insider Buying and Selling
In related news, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction that occurred on 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 completion of the sale, the senior vice president now directly owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The transaction was disclosed in a legal 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 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 transaction, the senior vice president now directly owns 76,580 shares of the company’s stock, valued at approximately $7,922,966.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 637 shares of Alphabet stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $90.15, for a total value of $57,425.55. Following the completion of the transaction, the chief accounting officer now directly owns 25,442 shares of the company’s stock, valued at $2,293,596.30. The disclosure for this sale can be found here. In the last ninety days, insiders bought 732,217 shares of company stock valued at $21,135,371 and sold 238,811 shares valued at $15,576,939. 11.44% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Several research firms recently commented on GOOGL. Credit Suisse Group cut their price target on shares of Alphabet from $136.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, April 26th. Wolfe Research raised their price target on shares of Alphabet from $120.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, April 26th. KeyCorp cut their price target on shares of Alphabet from $118.00 to $117.00 and set an “overweight” rating on the stock in a report on Monday, January 30th. Barclays lifted their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $115.00 price objective on shares of Alphabet in a research note on Monday, April 3rd. Three investment 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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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