GPM Growth Investors Inc. purchased a new position in Alphabet Inc. (NASDAQ:GOOG – Get Rating) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,343 shares of the information services provider’s stock, valued at approximately $244,000.
A number of other institutional investors have also bought and sold shares of the business. Lancaster Investment Management increased its stake in Alphabet by 314.9% in the 1st quarter. Lancaster Investment Management now owns 13,605 shares of the information services provider’s stock worth $1,415,000 after buying an additional 10,326 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in shares of Alphabet by 7.7% during the first quarter. Massmutual Trust Co. FSB ADV now owns 205,569 shares of the information services provider’s stock valued at $21,379,000 after purchasing an additional 14,610 shares in the last quarter. Addenda Capital Inc. grew its position in shares of Alphabet by 8.0% during the first quarter. Addenda Capital Inc. now owns 169,532 shares of the information services provider’s stock valued at $17,631,000 after purchasing an additional 12,591 shares in the last quarter. Pacifica Partners Inc. grew its position in shares of Alphabet by 4.5% during the first quarter. Pacifica Partners Inc. now owns 52,743 shares of the information services provider’s stock valued at $5,716,000 after purchasing an additional 2,274 shares in the last quarter. Finally, Wedmont Private Capital grew its position in shares of Alphabet by 21.4% during the first quarter. Wedmont Private Capital now owns 37,189 shares of the information services provider’s stock valued at $3,977,000 after purchasing an additional 6,558 shares in the last quarter. Hedge funds and other institutional investors own 27.17% of the company’s stock.
Alphabet Stock Performance
Alphabet stock opened at $123.87 on Friday. The company has a 50 day moving average price of $117.06 and a 200-day moving average price of $103.54. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.32 and a current ratio of 2.35. Alphabet Inc. has a fifty-two week low of $83.45 and a fifty-two week high of $129.55. The company has a market capitalization of $1.57 trillion, a PE ratio of 27.59, a P/E/G ratio of 1.58 and a beta of 1.09.
Insider Activity
In other 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 transaction of $3,349,931.34. Following the completion of the sale, the senior vice president now owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related 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 transaction of $3,349,931.34. Following the transaction, the senior vice president now directly owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total transaction of $25,130.00. Following the transaction, the director now directly owns 5,740 shares in the company, valued at $721,231. The disclosure for this sale can be found here. Over the last quarter, insiders sold 877,364 shares of company stock valued at $30,371,135. Corporate insiders own 12.99% of the company’s stock.
Analyst Upgrades and Downgrades
GOOG has been the subject of a number of research analyst reports. Oppenheimer cut their price objective on Alphabet from $155.00 to $135.00 in a research report on Monday, April 24th. Robert W. Baird raised their price objective on Alphabet from $120.00 to $123.00 in a research report on Wednesday, April 26th. UBS Group raised their price objective on Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research report on Thursday, April 6th. Deutsche Bank Aktiengesellschaft raised their price objective on Alphabet from $120.00 to $125.00 in a research report on Wednesday, April 26th. Finally, Raymond James increased their price target on shares of Alphabet from $119.00 to $130.00 in a report on Wednesday, April 26th. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $132.80.
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.
Read More
- Get a free research report on Alphabet from StockNews.com
- Mastering Discipline: Overcoming Emotional Challenges In Trading
- Darden Restaurants: Ring The Register Or Time To Buy?
- United Airlines: Cleared For Takeoff As It Approaches Buy Point?
- KB Home Hits Peak: Pullback Imminent
- Five stocks we like better than Alphabet
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.
