Lederer & Associates Investment Counsel CA lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,207 shares of the information services provider’s stock after purchasing an additional 177 shares during the quarter. Alphabet accounts for 2.7% of Lederer & Associates Investment Counsel CA’s investment portfolio, making the stock its 3rd largest holding. Lederer & Associates Investment Counsel CA’s holdings in Alphabet were worth $3,445,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of GOOGL. DC Investments Management LLC purchased a new stake in Alphabet in the 1st quarter valued at $114,000. Bridgefront Capital LLC purchased a new stake in Alphabet in the 1st quarter valued at $225,000. Worth Asset Management LLC purchased a new stake in Alphabet in the 1st quarter valued at $206,000. Eudaimonia Advisors LLC raised its position in Alphabet by 15.1% in the 1st quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock valued at $275,000 after buying an additional 13 shares during the last quarter. Finally, Aspire Capital Advisors LLC purchased a new stake in Alphabet in the 1st quarter valued at $281,000. 35.38% of the stock is owned by institutional investors and hedge funds.
Alphabet Stock Performance
NASDAQ:GOOGL opened at $119.70 on Friday. The business’s 50-day moving average price is $118.09 and its two-hundred day moving average price is $103.96. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $129.04. The stock has a market cap of $1.52 trillion, a P/E ratio of 26.66, a PEG ratio of 1.54 and a beta of 1.09. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05.
Analysts Set New Price Targets
A number of equities research analysts recently commented on GOOGL shares. Truist Financial increased their price target on Alphabet from $120.00 to $122.00 and gave the company a “buy” rating in a research report on Wednesday, April 26th. Jefferies Financial Group upped their price objective on Alphabet from $130.00 to $150.00 in a research note on Tuesday, May 23rd. Stifel Nicolaus initiated coverage on Alphabet in a research note on Monday, March 20th. They issued a “buy” rating and a $130.00 price objective for the company. Needham & Company LLC restated a “buy” rating and issued a $115.00 price objective on shares of Alphabet in a research note on Monday, April 3rd. Finally, UBS Group downgraded Alphabet from a “buy” rating to a “neutral” rating and upped their price objective for the company from $123.00 to $132.00 in a research note on Monday, June 26th. Seven analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $129.63.
Insider Activity at Alphabet
In related news, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $107.51, for a total transaction of $68,483.87. Following the transaction, the chief accounting officer now directly owns 25,937 shares of the company’s stock, valued at approximately $2,788,486.87. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, major shareholder 2021 Gp L.L.C. Gv acquired 309,931 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were bought at an average cost of $28.34 per share, with a total value of $8,783,444.54. Following the acquisition, the insider now owns 2,243,665 shares in the company, valued at approximately $63,585,466.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 637 shares of Alphabet stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $107.51, for a total value of $68,483.87. Following the completion of the transaction, the chief accounting officer now directly owns 25,937 shares in the company, valued at $2,788,486.87. The disclosure for this sale can be found here. In the last three months, insiders have sold 826,544 shares of company stock valued at $27,117,461. Corporate insiders own 0.88% of the company’s stock.
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.
Read More
- Five stocks we like better than Alphabet
- Tesla: Can Downgrades Make Sense After A 170% Rally?
- Buffett’s Berkshire Increases Stake In Occidental Petroleum (OXY)
- Rally Gains Momentum On Soft PCE Data
- Bank of America, JPMorgan, Goldman Sachs Set For Dividend Growth?
- SMART Global Holdings Momentum, Room To Move Higher?
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL – Free Report).
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.
