Gradient Investments LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 5.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 320,026 shares of the information services provider’s stock after selling 19,707 shares during the quarter. Alphabet accounts for 0.9% of Gradient Investments LLC’s holdings, making the stock its 27th biggest position. Gradient Investments LLC’s holdings in Alphabet were worth $33,283,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Financial Advisors Network Inc. increased its stake in shares of Alphabet by 4.5% in the first quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock worth $450,000 after acquiring an additional 7 shares during the period. Turim 21 Investimentos Ltda. boosted its holdings in Alphabet by 10.8% during the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after buying an additional 8 shares in the last quarter. West Michigan Advisors LLC boosted its holdings in Alphabet by 3.7% during the first quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock worth $704,000 after buying an additional 9 shares in the last quarter. Somerville Kurt F boosted its holdings in Alphabet by 10.3% during the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after buying an additional 11 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC boosted its holdings in Alphabet by 1.4% during the first quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock worth $3,301,000 after buying an additional 16 shares in the last quarter. Institutional investors and hedge funds own 27.17% of the company’s stock.
Alphabet Price Performance
Alphabet stock opened at $121.08 on Thursday. Alphabet Inc. has a 12-month low of $83.45 and a 12-month high of $129.55. The stock has a market cap of $1.54 trillion, a P/E ratio of 26.97, a PEG ratio of 1.52 and a beta of 1.09. The company has a 50-day moving average price of $118.18 and a 200 day moving average price of $104.28. The company has a current ratio of 2.35, a quick ratio of 2.32 and a debt-to-equity ratio of 0.05.
Insider Buying and Selling at Alphabet
In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of Alphabet 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 completion of the sale, the insider now directly owns 11,421,476 shares in the company, valued at $161,385,455.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv acquired 309,931 shares of the stock in a transaction dated Wednesday, May 3rd. The stock was acquired at an average price of $28.34 per share, with a total value of $8,783,444.54. Following the completion of the purchase, the insider now owns 2,243,665 shares in the company, valued at approximately $63,585,466.10. The purchase was disclosed in a document filed with the SEC, 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 shares were sold at an average price of $14.13, for a total transaction of $1,423,908.36. Following the completion of the transaction, the insider now directly owns 11,421,476 shares of the company’s stock, valued at approximately $161,385,455.88. The disclosure for this sale can be found here. Insiders sold a total of 848,738 shares of company stock worth $27,463,304 over the last three months. Insiders own 12.99% of the company’s stock.
Wall Street Analysts Forecast Growth
GOOG has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on shares of Alphabet from $120.00 to $125.00 in a report on Wednesday, April 26th. Oppenheimer lowered their price target on shares of Alphabet from $155.00 to $135.00 in a report on Monday, April 24th. Robert W. Baird increased their price objective on shares of Alphabet from $120.00 to $123.00 in a report on Wednesday, April 26th. Raymond James increased their price objective on shares of Alphabet from $119.00 to $130.00 in a report on Wednesday, April 26th. Finally, UBS Group increased their price objective on shares of Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a report on Thursday, April 6th. One equities research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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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