MGO Private Wealth LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 39.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,390 shares of the information services provider’s stock after selling 1,582 shares during the period. MGO Private Wealth LLC’s holdings in Alphabet were worth $249,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in GOOG. DC Investments Management LLC purchased a new position in shares of Alphabet in the first quarter worth about $115,000. Guardian Wealth Management Inc. purchased a new position in shares of Alphabet in the first quarter worth about $184,000. Turim 21 Investimentos Ltda. increased its stake in shares of Alphabet by 10.8% in the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after purchasing an additional 8 shares in the last quarter. qPULA Trading Management LP purchased a new position in shares of Alphabet in the first quarter worth about $279,000. Finally, Wayfinding Financial LLC purchased a new position in shares of Alphabet in the fourth quarter worth about $294,000. Institutional investors own 27.17% of the company’s stock.
Alphabet Trading Up 1.7 %
Shares of GOOG opened at $121.08 on Thursday. The firm has a market cap of $1.54 trillion, a price-to-earnings ratio of 26.97, a PEG ratio of 1.52 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. Alphabet Inc. has a fifty-two week low of $83.45 and a fifty-two week high of $129.55. The firm has a 50 day moving average price of $118.18 and a 200-day moving average price of $104.28.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on GOOG shares. Oppenheimer reduced their target price on shares of Alphabet from $155.00 to $135.00 in a research note on Monday, April 24th. Raymond James lifted their target price on shares of Alphabet from $119.00 to $130.00 in a research note on Wednesday, April 26th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Alphabet from $120.00 to $125.00 in a research note on Wednesday, April 26th. UBS Group boosted their price objective on shares of Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research note on Thursday, April 6th. Finally, Robert W. Baird boosted their price objective on shares of Alphabet from $120.00 to $123.00 in a research note on Wednesday, April 26th. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $132.80.
Insider Transactions at Alphabet
In related news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 5,740 shares in the company, valued at approximately $721,231. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder 2021 Gp L.L.C. Gv purchased 309,931 shares of the 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 acquisition, the insider now directly owns 2,243,665 shares of the company’s stock, valued at approximately $63,585,466.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 5,740 shares in the company, valued at $721,231. The disclosure for this sale can be found here. In the last ninety days, insiders sold 848,738 shares of company stock worth $27,463,304. 12.99% of the stock is currently owned by insiders.
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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