Chesley Taft & Associates LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 13.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 107,137 shares of the information services provider’s stock after selling 16,540 shares during the period. Chesley Taft & Associates LLC’s holdings in Alphabet were worth $11,113,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DC Investments Management LLC bought a new position in shares of Alphabet during the first quarter valued at $114,000. Bridgefront Capital LLC bought a new position in shares of Alphabet during the first quarter valued at $225,000. Worth Asset Management LLC bought a new position in shares of Alphabet during the first quarter valued at $206,000. Eudaimonia Advisors LLC lifted its holdings in shares of Alphabet by 15.1% during the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock valued at $275,000 after purchasing an additional 13 shares in the last quarter. Finally, Aspire Capital Advisors LLC bought a new position in shares of Alphabet during the first quarter valued at $281,000. 35.38% of the stock is owned by hedge funds and other institutional investors.
Alphabet Price Performance
Shares of Alphabet stock opened at $123.15 on Friday. The stock has a market cap of $1.56 trillion, a price-to-earnings ratio of 27.43, a price-to-earnings-growth ratio of 1.57 and a beta of 1.09. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.32 and a current ratio of 2.35. The stock has a 50 day moving average price of $116.41 and a 200-day moving average price of $102.95. Alphabet Inc. has a one year low of $83.34 and a one year high of $129.04.
Analysts Set New Price Targets
GOOGL has been the topic of a number of research analyst reports. Jefferies Financial Group upped their price target on Alphabet from $130.00 to $150.00 in a report on Tuesday, May 23rd. Wells Fargo & Company started coverage on Alphabet in a report on Wednesday, June 7th. They issued an “equal weight” rating and a $117.00 target price on the stock. Morgan Stanley increased their target price on Alphabet from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday, April 26th. StockNews.com started coverage on Alphabet in a report on Thursday, May 18th. They issued a “buy” rating on the stock. Finally, Piper Sandler increased their target price on Alphabet from $117.00 to $128.00 and gave the company an “overweight” rating in a report on Wednesday, April 26th. Five analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $129.67.
Insider Buying and Selling
In related news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the firm’s 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 sale, the insider now directly owns 11,421,476 shares of the company’s stock, valued at approximately $161,385,455.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now directly owns 11,421,476 shares of the company’s stock, valued at $161,385,455.88. The disclosure for this sale can be found here. In the last three months, insiders sold 854,930 shares of company stock valued at $29,996,488. Insiders own 0.88% of the company’s stock.
Alphabet 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.
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