Archford Capital Strategies LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 13.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 25,594 shares of the information services provider’s stock after buying an additional 3,100 shares during the quarter. Archford Capital Strategies LLC’s holdings in Alphabet were worth $2,686,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Totem Point Management LLC increased its position in Alphabet by 22.0% in the first quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock worth $8,857,000 after purchasing an additional 571 shares during the period. 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 during the last quarter. BCK Partners Inc. bought a new position in Alphabet during the first quarter worth about $2,564,000. Hall Capital Management Co. Inc. boosted its holdings in Alphabet by 53.2% during the first quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock worth $402,000 after buying an additional 50 shares during the last quarter. Finally, Fairfield Bush & CO. boosted its holdings in Alphabet by 6.8% during the first quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock worth $9,412,000 after buying an additional 214 shares during the last quarter. 27.17% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Stock Up 0.8 %
GOOG stock opened at $120.97 on Friday. Alphabet Inc. has a 1-year low of $83.45 and a 1-year high of $129.55. The business’s 50 day simple moving average is $118.76 and its 200 day simple moving average is $104.64. The company has a current ratio of 2.35, a quick ratio of 2.32 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $1.54 trillion, a PE ratio of 26.94, a PEG ratio of 1.54 and a beta of 1.09.
Analysts Set New Price Targets
GOOG has been the topic of a number of recent analyst reports. Robert W. Baird raised their target price on Alphabet from $120.00 to $123.00 in a report on Wednesday, April 26th. Raymond James lifted their price objective on Alphabet from $119.00 to $130.00 in a report on Wednesday, April 26th. UBS Group lifted their price objective on Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a report on Thursday, April 6th. Deutsche Bank Aktiengesellschaft lifted their price objective on Alphabet from $120.00 to $125.00 in a report on Wednesday, April 26th. Finally, Oppenheimer cut their price objective on Alphabet from $155.00 to $135.00 in a report on Monday, April 24th. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $132.80.
Insider Activity at Alphabet
In related news, SVP Prabhakar Raghavan sold 32,379 shares of the stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $103.46, for a total value of $3,349,931.34. Following the sale, the senior vice president now owns 76,580 shares in the company, valued at approximately $7,922,966.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, major shareholder 2021 Gp L.L.C. Gv acquired 309,931 shares of the stock in a transaction on Wednesday, May 3rd. The shares were purchased at an average price of $28.34 per share, for a total transaction of $8,783,444.54. Following the transaction, the insider now directly owns 2,243,665 shares of the company’s stock, valued at $63,585,466.10. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Prabhakar Raghavan sold 32,379 shares of the stock in a transaction on Monday, April 3rd. The stock was 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 owns 76,580 shares in the company, valued at approximately $7,922,966.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 848,978 shares of company stock worth $27,492,109. Company insiders own 12.99% of the company’s stock.
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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