IFP Advisors Inc decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 45.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 53,069 shares of the information services provider’s stock after selling 44,977 shares during the period. Alphabet makes up approximately 2.5% of IFP Advisors Inc’s investment portfolio, making the stock its 2nd largest holding. IFP Advisors Inc’s holdings in Alphabet were worth $58,566,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of GOOG. Totem Point Management LLC boosted 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 valued at $8,857,000 after buying an additional 571 shares during the last quarter. Somerville Kurt F boosted its position in Alphabet by 10.3% in the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after buying an additional 11 shares during the last quarter. BCK Partners Inc. purchased a new stake in Alphabet in the first quarter valued at approximately $2,564,000. Hall Capital Management Co. Inc. boosted its position in Alphabet by 53.2% in the first quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock valued at $402,000 after buying an additional 50 shares during the last quarter. Finally, Fairfield Bush & CO. boosted its position in Alphabet by 6.8% in the 1st quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock worth $9,412,000 after purchasing an additional 214 shares in the last quarter. Hedge funds and other institutional investors own 27.17% of the company’s stock.
Alphabet Stock Up 0.8 %
NASDAQ GOOG opened at $120.97 on Friday. Alphabet Inc. has a 52 week low of $83.45 and a 52 week high of $129.55. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05. The business’s fifty day simple moving average is $118.76 and its 200-day simple moving average is $104.64. The firm has a market cap of $1.54 trillion, a PE ratio of 26.94, a P/E/G ratio of 1.54 and a beta of 1.09.
Analysts Set New Price Targets
Several equities research analysts have commented on the company. Raymond James upped their price objective on Alphabet from $119.00 to $130.00 in a research report on Wednesday, April 26th. Oppenheimer lowered their price objective on Alphabet from $155.00 to $135.00 in a research report on Monday, April 24th. UBS Group upped their price objective on Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research report on Thursday, April 6th. Deutsche Bank Aktiengesellschaft upped their price objective on Alphabet from $120.00 to $125.00 in a research report on Wednesday, April 26th. Finally, Robert W. Baird upped their price objective on Alphabet from $120.00 to $123.00 in a research report on Wednesday, April 26th. 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.com, the company has an average rating of “Moderate Buy” and a consensus target price of $132.80.
Insider Transactions at Alphabet
In other news, Director Frances Arnold sold 240 shares of Alphabet stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $120.02, for a total transaction of $28,804.80. Following the transaction, the director now owns 13,040 shares in the company, valued at approximately $1,565,060.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Frances Arnold sold 240 shares of the firm’s stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $120.02, for a total transaction of $28,804.80. Following the completion of the sale, the director now directly owns 13,040 shares of the company’s stock, valued at approximately $1,565,060.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 32,379 shares of the firm’s stock in a transaction dated 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 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. Insiders have sold a total of 848,978 shares of company stock worth $27,492,109 in the last quarter. Company insiders own 12.99% of the company’s stock.
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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