Johnson & White Wealth Management LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,542 shares of the information services provider’s stock, valued at approximately $264,000.
Several other institutional investors and hedge funds have also made changes to their positions in GOOGL. Spreng Capital Management Inc. increased its position in Alphabet by 4.0% during the first quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock worth $364,000 after buying an additional 5 shares in the last quarter. West Family Investments Inc. increased its position in Alphabet by 0.3% during the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock worth $4,878,000 after buying an additional 6 shares in the last quarter. Maple Capital Management Inc. increased its position in Alphabet by 2.1% during the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock worth $823,000 after buying an additional 6 shares in the last quarter. Private Advisory Group LLC increased its position in Alphabet by 1.8% during the first quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock worth $1,115,000 after buying an additional 7 shares in the last quarter. Finally, Weik Capital Management increased its position in Alphabet by 0.5% during the first quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock worth $4,264,000 after buying an additional 8 shares in the last quarter. 35.38% of the stock is owned by institutional investors and hedge funds.
Alphabet Stock Down 0.9 %
Shares of NASDAQ GOOGL opened at $119.10 on Friday. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $129.04. The firm has a market cap of $1.51 trillion, a price-to-earnings ratio of 26.53, a PEG ratio of 1.51 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. The stock’s 50-day simple moving average is $117.80 and its 200-day simple moving average is $103.78.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on GOOGL. Royal Bank of Canada raised their price target on Alphabet from $130.00 to $132.00 in a research report on Wednesday, April 26th. Morgan Stanley raised their price objective on Alphabet from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Wednesday, April 26th. Robert W. Baird raised their price objective on Alphabet from $120.00 to $123.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Credit Suisse Group decreased their price objective on Alphabet from $136.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, April 26th. Finally, Roth Mkm raised their price objective on Alphabet from $126.00 to $134.00 and gave the stock a “buy” rating in a report on Wednesday, April 26th. Seven analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.63.
Insider Transactions at Alphabet
In other news, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $103.46, for a total transaction of $3,349,931.34. Following the sale, the senior vice president now directly owns 76,580 shares of the company’s stock, valued at $7,922,966.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Kavitark Ram Shriram sold 37,500 shares of the business’s stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $105.04, for a total value of $3,939,000.00. Following the completion of the sale, the director now directly owns 107,240 shares of the company’s stock, valued at $11,264,489.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 32,379 shares of the business’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $103.46, for a total value 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 826,544 shares of company stock valued at $27,117,461. 0.88% 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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