Abacus Planning Group Inc. raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 6.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,476 shares of the information services provider’s stock after purchasing an additional 500 shares during the quarter. Abacus Planning Group Inc.’s holdings in Alphabet were worth $879,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in the business. VitalStone Financial LLC purchased a new stake in shares of Alphabet in the fourth quarter worth about $25,000. Live Oak Investment Partners purchased a new stake in shares of Alphabet in the fourth quarter worth about $26,000. McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Alphabet in the fourth quarter worth about $33,000. Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Alphabet in the fourth quarter worth about $34,000. Finally, Turim 21 Investimentos Ltda. purchased a new stake in shares of Alphabet in the third quarter worth about $38,000. 35.38% of the stock is owned by hedge funds and other institutional investors.
Alphabet Stock Performance
Shares of GOOGL stock opened at $119.70 on Friday. The stock has a fifty day moving average of $118.09 and a 200 day moving average of $104.02. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $129.04. The firm has a market capitalization of $1.52 trillion, a price-to-earnings ratio of 26.66, a PEG ratio of 1.52 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.
Analyst Ratings Changes
Several research analysts recently weighed in on GOOGL shares. Jefferies Financial Group upped their price objective on shares of Alphabet from $130.00 to $150.00 in a research report on Tuesday, May 23rd. 1-800-FLOWERS.COM restated a “downgrade” rating on shares of Alphabet in a research report on Monday, May 15th. Raymond James upped their price objective on shares of Alphabet from $119.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 26th. Wolfe Research upped their price objective on shares of Alphabet from $120.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 26th. Finally, Royal Bank of Canada upped their price objective on shares of Alphabet from $130.00 to $132.00 in a research report on Wednesday, April 26th. Seven investment analysts have rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.63.
Insider Buying and Selling at Alphabet
In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $107.51, for a total transaction of $68,483.87. Following the completion of the transaction, the chief accounting officer now owns 25,937 shares of the company’s stock, valued at $2,788,486.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $107.51, for a total transaction of $68,483.87. Following the completion of the transaction, the chief accounting officer now owns 25,937 shares of the company’s stock, valued at $2,788,486.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the firm’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $12.72, for a total value of $347,128.80. Following the transaction, the insider now directly owns 10,958,925 shares of the company’s stock, valued at approximately $139,397,526. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 826,544 shares of company stock valued at $27,117,461. 0.88% of the stock is currently owned by company insiders.
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.
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