Focused Wealth Management Inc grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 101.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,580 shares of the information services provider’s stock after acquiring an additional 23,432 shares during the period. Alphabet comprises about 1.0% of Focused Wealth Management Inc’s investment portfolio, making the stock its 18th biggest holding. Focused Wealth Management Inc’s holdings in Alphabet were worth $4,832,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. VitalStone Financial LLC bought a new position in Alphabet in the fourth quarter worth about $25,000. Live Oak Investment Partners bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $26,000. McElhenny Sheffield Capital Management LLC bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $33,000. Sanctuary Wealth Management L.L.C. bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $34,000. Finally, Turim 21 Investimentos Ltda. bought a new stake in shares of Alphabet during the third quarter valued at approximately $38,000. 35.38% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Stock Down 3.3 %
GOOGL opened at $118.34 on Tuesday. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $129.04. The business has a 50-day moving average of $116.93 and a 200-day moving average of $103.38. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.32. The company has a market capitalization of $1.50 trillion, a PE ratio of 26.36, a price-to-earnings-growth ratio of 1.56 and a beta of 1.09.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on GOOGL. 1-800-FLOWERS.COM reaffirmed a “downgrade” rating on shares of Alphabet in a report on Monday, May 15th. UBS Group cut Alphabet from a “buy” rating to a “neutral” rating and lifted their price target for the company from $123.00 to $132.00 in a report on Monday. JMP Securities reissued a “market outperform” rating and set a $132.00 target price on shares of Alphabet in a report on Thursday, March 16th. Bank of America upped their target price on Alphabet from $125.00 to $128.00 and gave the stock a “buy” rating in a research report on Wednesday, April 26th. Finally, BNP Paribas raised Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 price objective on the stock in a research note on Friday, March 17th. Six analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $129.90.
Insider Transactions at Alphabet
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 value 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 approximately $7,922,966.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 value 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 approximately $7,922,966.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv acquired 309,931 shares of the business’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was bought at an average cost of $28.34 per share, for a total transaction of $8,783,444.54. Following the completion of the purchase, the insider now directly owns 2,243,665 shares in the company, valued at approximately $63,585,466.10. The disclosure for this purchase can be found here. Insiders sold 854,930 shares of company stock valued at $29,996,488 in the last three months. Corporate 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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