Vahanian & Associates Financial Planning Inc. lowered its stake in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 6.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,754 shares of the information services provider’s stock after selling 542 shares during the period. Alphabet accounts for 2.2% of Vahanian & Associates Financial Planning Inc.’s holdings, making the stock its 12th biggest position. Vahanian & Associates Financial Planning Inc.’s holdings in Alphabet were worth $806,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Alphabet by 1,885.5% in the third quarter. Vanguard Group Inc. now owns 422,194,039 shares of the information services provider’s stock worth $40,593,957,000 after acquiring an additional 400,930,216 shares during the period. BlackRock Inc. increased its stake 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 worth $35,055,286,000 after acquiring an additional 345,962,033 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Alphabet by 1,770.6% in 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 acquiring an additional 192,607,045 shares during the period. State Street Corp increased its stake in shares of Alphabet by 1,851.7% in 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 acquiring 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% in 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 acquiring an additional 129,835,437 shares during the period. Hedge funds and other institutional investors own 27.17% of the company’s stock.
Alphabet Stock Up 0.8 %
GOOG stock opened at $120.97 on Friday. The stock has a market capitalization of $1.54 trillion, a P/E ratio of 26.94, a P/E/G ratio of 1.55 and a beta of 1.09. Alphabet Inc. has a 52 week low of $83.45 and a 52 week high of $129.55. The firm has a 50-day simple moving average of $118.76 and a 200-day simple moving average of $104.58. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05.
Analyst Upgrades and Downgrades
A number of analysts have recently weighed in on GOOG shares. Robert W. Baird increased their price objective on shares of Alphabet from $120.00 to $123.00 in a research note on Wednesday, April 26th. UBS Group increased their price objective on shares of Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. Raymond James raised their price target on shares of Alphabet from $119.00 to $130.00 in a research report on Wednesday, April 26th. Oppenheimer dropped their price target on shares of Alphabet from $155.00 to $135.00 in a research report on Monday, April 24th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Alphabet from $120.00 to $125.00 in a research report on Wednesday, April 26th. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $132.80.
Insider Buying and Selling
In related news, Director Frances Arnold sold 240 shares of the business’s stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $120.02, for a total transaction of $28,804.80. Following the transaction, the director now directly owns 13,040 shares in the company, valued at $1,565,060.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, 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 transaction, the senior vice president now directly owns 76,580 shares in the company, valued at approximately $7,922,966.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frances Arnold sold 240 shares of the business’s stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $120.02, for a total transaction of $28,804.80. Following the completion of the transaction, the director now owns 13,040 shares in the company, valued at $1,565,060.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 848,978 shares of company stock worth $27,492,109. 12.99% of the stock is owned by insiders.
About Alphabet
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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