Bowman & Co S.C. acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,983 shares of the information services provider’s stock, valued at approximately $206,000.
Several other institutional investors also recently bought and sold shares of GOOG. Vanguard Group Inc. lifted its position in shares of Alphabet by 1,885.5% during the third quarter. Vanguard Group Inc. now owns 422,194,039 shares of the information services provider’s stock worth $40,593,957,000 after purchasing an additional 400,930,216 shares in the last quarter. BlackRock Inc. raised its holdings in Alphabet by 1,857.3% in the third quarter. BlackRock Inc. now owns 364,589,580 shares of the information services provider’s stock valued at $35,055,286,000 after acquiring an additional 345,962,033 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Alphabet by 1,770.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 203,484,912 shares of the information services provider’s stock valued at $19,639,414,000 after acquiring an additional 192,607,045 shares in the last quarter. State Street Corp raised its holdings in Alphabet by 1,851.7% in the third quarter. State Street Corp now owns 196,897,894 shares of the information services provider’s stock valued at $18,931,733,000 after acquiring an additional 186,809,281 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC raised its holdings in Alphabet by 61,587.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock valued at $11,539,004,000 after acquiring an additional 129,835,437 shares in the last quarter. 27.17% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet Stock Performance
Shares of GOOG opened at $119.09 on Tuesday. The firm has a 50-day moving average price of $117.58 and a 200 day moving average price of $103.98. The firm has a market capitalization of $1.51 trillion, a PE ratio of 26.52, a P/E/G ratio of 1.57 and a beta of 1.09. 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 52-week low of $83.45 and a 52-week high of $129.55.
Insider Buying and Selling at Alphabet
In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $14.13, for a total value 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 other Alphabet news, SVP Prabhakar Raghavan sold 32,379 shares of the company’s stock in a transaction dated 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 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 available through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $14.13, for a total transaction 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 877,364 shares of company stock valued at $30,371,135. 12.99% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on GOOG shares. Oppenheimer cut their price target on shares of Alphabet from $155.00 to $135.00 in a report on Monday, April 24th. UBS Group upped their price target on shares of Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a report on Thursday, April 6th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Alphabet from $120.00 to $125.00 in a report on Wednesday, April 26th. Raymond James upped their price target on shares of Alphabet from $119.00 to $130.00 in a report on Wednesday, April 26th. Finally, Robert W. Baird increased their target price on shares of Alphabet from $120.00 to $123.00 in a report on Wednesday, April 26th. One investment analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $132.80.
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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