Welch & Forbes LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 0.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,189,394 shares of the information services provider’s stock after buying an additional 3,579 shares during the quarter. Alphabet accounts for about 2.1% of Welch & Forbes LLC’s portfolio, making the stock its 11th biggest holding. Welch & Forbes LLC’s holdings in Alphabet were worth $123,697,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of GOOG. Vanguard Group Inc. boosted its position in 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 valued at $40,593,957,000 after purchasing an additional 400,930,216 shares during the last quarter. BlackRock Inc. lifted its position in shares of 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 buying an additional 345,962,033 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Alphabet by 1,770.6% during the third quarter. Price T Rowe Associates Inc. MD now owns 203,484,912 shares of the information services provider’s stock worth $19,639,414,000 after purchasing an additional 192,607,045 shares during the period. State Street Corp increased its stake in shares of Alphabet by 1,851.7% during the third quarter. State Street Corp now owns 196,897,894 shares of the information services provider’s stock worth $18,931,733,000 after purchasing an additional 186,809,281 shares during the period. Finally, Moneta Group Investment Advisors LLC increased its stake in shares of Alphabet by 61,587.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock worth $11,539,004,000 after purchasing an additional 129,835,437 shares during the period. 27.17% of the stock is currently owned by institutional investors.
Alphabet Price Performance
Alphabet stock opened at $119.01 on Wednesday. The company has a market cap of $1.51 trillion, a price-to-earnings ratio of 26.51, a PEG ratio of 1.57 and a beta of 1.09. The company has a current ratio of 2.35, a quick ratio of 2.32 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12 month low of $83.45 and a 12 month high of $129.55. The business’s 50 day simple moving average is $117.86 and its 200 day simple moving average is $104.17.
Insiders Place Their Bets
In other Alphabet news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The shares were 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 directly owns 5,740 shares in the company, valued at $721,231. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $12.72, for a total transaction of $347,128.80. Following the completion of the sale, the insider now owns 10,958,925 shares of the company’s stock, valued at $139,397,526. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the firm’s 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 sale, the director now directly owns 5,740 shares of the company’s stock, valued at approximately $721,231. The disclosure for this sale can be found here. Insiders sold 848,358 shares of company stock worth $27,417,164 over the last three months. Company insiders own 12.99% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have commented on GOOG shares. Deutsche Bank Aktiengesellschaft raised their price objective on Alphabet from $120.00 to $125.00 in a research note on Wednesday, April 26th. Robert W. Baird raised their price objective on Alphabet from $120.00 to $123.00 in a report on Wednesday, April 26th. Oppenheimer cut their price objective on Alphabet from $155.00 to $135.00 in a report on Monday, April 24th. UBS Group lifted their target price on Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a report on Thursday, April 6th. Finally, Raymond James boosted their price objective on Alphabet from $119.00 to $130.00 in a research note on Wednesday, April 26th. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $132.80.
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.
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