Twelve Points Wealth Management LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 2.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,926 shares of the information services provider’s stock after selling 183 shares during the quarter. Twelve Points Wealth Management LLC’s holdings in Alphabet were worth $928,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the stock. First Hawaiian Bank grew its position in shares of Alphabet by 16.2% in the first quarter. First Hawaiian Bank now owns 123,916 shares of the information services provider’s stock valued at $12,887,000 after purchasing an additional 17,269 shares in the last quarter. M. Kraus & Co boosted its stake in Alphabet by 0.5% during the first quarter. M. Kraus & Co now owns 107,423 shares of the information services provider’s stock valued at $11,172,000 after buying an additional 537 shares during the period. Clarus Group Inc. boosted its stake in Alphabet by 6.2% during the first quarter. Clarus Group Inc. now owns 9,226 shares of the information services provider’s stock valued at $959,000 after buying an additional 540 shares during the period. Archford Capital Strategies LLC boosted its stake in Alphabet by 13.8% during the first quarter. Archford Capital Strategies LLC now owns 25,594 shares of the information services provider’s stock valued at $2,686,000 after buying an additional 3,100 shares during the period. Finally, Elevated Capital Advisors LLC boosted its stake in Alphabet by 1.8% during the first quarter. Elevated Capital Advisors LLC now owns 13,920 shares of the information services provider’s stock valued at $1,448,000 after buying an additional 240 shares during the period. 27.17% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet Stock Up 0.8 %
Shares of NASDAQ:GOOG opened at $120.97 on Monday. Alphabet Inc. has a 1 year low of $83.45 and a 1 year high of $129.55. The company 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. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.32. The stock’s 50-day moving average is $118.76 and its 200 day moving average is $104.71.
Insiders Place Their Bets
In other Alphabet news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total transaction of $25,130.00. Following the transaction, the director now owns 5,740 shares in the company, valued at approximately $721,231. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total value of $25,130.00. Following the sale, the director now directly owns 5,740 shares of the company’s stock, valued at approximately $721,231. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv purchased 309,931 shares of the company’s stock in a transaction dated Wednesday, May 3rd. The stock was bought at an average cost of $28.34 per share, for a total transaction of $8,783,444.54. Following the completion of the transaction, the insider now owns 2,243,665 shares in the company, valued at $63,585,466.10. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 816,599 shares of company stock worth $24,142,177. Company insiders own 12.99% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on the company. Robert W. Baird lifted their price objective on Alphabet from $120.00 to $123.00 in a research note on Wednesday, April 26th. Oppenheimer dropped their price target on Alphabet from $155.00 to $135.00 in a research note on Monday, April 24th. Raymond James lifted their price target on Alphabet from $119.00 to $130.00 in a research note on Wednesday, April 26th. Deutsche Bank Aktiengesellschaft lifted their price target on Alphabet from $120.00 to $125.00 in a research note on Wednesday, April 26th. Finally, UBS Group lifted their price target on Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. One equities research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $132.80.
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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