Relyea Zuckerberg Hanson LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 30.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,108 shares of the information services provider’s stock after acquiring an additional 4,513 shares during the quarter. Relyea Zuckerberg Hanson LLC’s holdings in Alphabet were worth $1,982,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FourThought Financial Partners LLC purchased a new position in Alphabet in the fourth quarter valued at about $5,415,000. Glenview Trust Co lifted its stake in shares of Alphabet by 10.7% during the 4th quarter. Glenview Trust Co now owns 458,830 shares of the information services provider’s stock valued at $40,483,000 after buying an additional 44,278 shares in the last quarter. Bfsg LLC lifted its stake in shares of Alphabet by 160.5% during the 4th quarter. Bfsg LLC now owns 8,075 shares of the information services provider’s stock valued at $712,000 after buying an additional 4,975 shares in the last quarter. Ibex Investors LLC purchased a new stake in shares of Alphabet during the 4th quarter valued at approximately $2,617,000. Finally, Arjuna Capital lifted its stake in shares of Alphabet by 2.8% during the 4th quarter. Arjuna Capital now owns 127,545 shares of the information services provider’s stock valued at $11,253,000 after buying an additional 3,427 shares in the last quarter. 35.38% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet Trading Up 0.5 %
Shares of GOOGL opened at $119.70 on Monday. The stock has a market capitalization of $1.52 trillion, a P/E 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. The firm has a fifty day simple moving average of $118.09 and a two-hundred day simple moving average of $104.09. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $129.04.
Analyst Ratings Changes
A number of analysts recently commented on the stock. 1-800-FLOWERS.COM restated a “downgrade” rating on shares of Alphabet in a research note on Monday, May 15th. Piper Sandler upped their price target on shares of Alphabet from $117.00 to $128.00 and gave the company an “overweight” rating in a research note on Wednesday, April 26th. Sanford C. Bernstein lowered shares of Alphabet from an “outperform” rating to a “market perform” rating and set a $125.00 target price on the stock. in a report on Tuesday, June 27th. Credit Suisse Group decreased their target price on shares of Alphabet from $136.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, April 26th. Finally, Citigroup upped their target price on shares of Alphabet from $120.00 to $130.00 in a report on Wednesday, April 26th. Seven analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $129.63.
Insider Buying and Selling at Alphabet
In other news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the firm’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $14.13, for a total value of $1,423,908.36. Following the completion of the sale, the insider now directly owns 11,421,476 shares of the company’s stock, valued at approximately $161,385,455.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total value of $68,483.87. Following the completion of the sale, the chief accounting officer now directly owns 25,937 shares of the company’s stock, valued at approximately $2,788,486.87. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $14.13, for a total transaction of $1,423,908.36. Following the completion of the transaction, the insider now owns 11,421,476 shares of the company’s stock, valued at $161,385,455.88. The disclosure for this sale can be found here. Insiders sold 794,165 shares of company stock valued at $23,767,530 in the last quarter. Company insiders own 0.88% 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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