Objective Capital Management LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 5.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,853 shares of the information services provider’s stock after purchasing an additional 525 shares during the quarter. Objective Capital Management LLC’s holdings in Alphabet were worth $958,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently modified their holdings of GOOGL. Bornite Capital Management LP purchased a new stake in shares of Alphabet during the first quarter valued at $16,688,000. Markel Corp lifted its holdings 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 valued at $43,110,000 after purchasing an additional 2,250 shares during the last quarter. United Bank lifted its holdings 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 valued at $5,654,000 after purchasing an additional 113 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings 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 valued at $900,929,000 after purchasing an additional 61,427 shares during the last quarter. Finally, Dakota Wealth Management lifted its holdings in shares of 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 purchasing an additional 1,570 shares during the last quarter. Institutional investors own 34.06% of the company’s stock.
Alphabet Stock Performance
GOOGL opened at $123.53 on Friday. The firm has a market capitalization of $1.57 trillion, a P/E ratio of 27.51, a price-to-earnings-growth ratio of 1.58 and a beta of 1.09. The stock’s 50 day moving average price is $115.08 and its two-hundred day moving average price is $102.30. The company has a quick ratio of 2.32, a current ratio of 2.35 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 $129.04.
Analyst Ratings Changes
GOOGL has been the subject of several analyst reports. Oppenheimer upped their target price on Alphabet from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, April 26th. StockNews.com initiated coverage on Alphabet in a report on Thursday, May 18th. They set a “buy” rating for the company. Jefferies Financial Group increased their price objective on Alphabet from $130.00 to $150.00 in a research note on Tuesday, May 23rd. Sanford C. Bernstein reduced their price objective on Alphabet from $130.00 to $125.00 and set an “outperform” rating for the company in a research note on Thursday, April 20th. Finally, 1-800-FLOWERS.COM reissued a “downgrade” rating on shares of Alphabet in a research note on Monday, May 15th. Five investment analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $129.67.
Insider Buying and Selling at Alphabet
In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 28,960 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $14.87, for a total value of $430,635.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 28,960 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $14.87, for a total value of $430,635.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total value of $25,130.00. Following the completion of the sale, the director now owns 5,740 shares of the company’s stock, valued at approximately $721,231. The disclosure for this sale can be found here. Insiders have sold 810,993 shares of company stock valued at $29,335,058 in the last 90 days. 0.88% of the stock is currently owned by insiders.
Alphabet Company Profile
Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
Further Reading
- Get a free copy of the StockNews.com research report on Alphabet (GOOGL)
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