Keudell Morrison Wealth Management reduced its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 2.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,699 shares of the information services provider’s stock after selling 667 shares during the quarter. Alphabet accounts for about 0.9% of Keudell Morrison Wealth Management’s investment portfolio, making the stock its 19th largest holding. Keudell Morrison Wealth Management’s holdings in Alphabet were worth $3,193,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of GOOG. Vanguard Group Inc. increased its holdings in shares of Alphabet by 1,885.5% in the third quarter. Vanguard Group Inc. now owns 422,194,039 shares of the information services provider’s stock worth $40,593,957,000 after acquiring an additional 400,930,216 shares in the last quarter. BlackRock Inc. boosted its position in shares of Alphabet by 1,857.3% during the third quarter. BlackRock Inc. now owns 364,589,580 shares of the information services provider’s stock worth $35,055,286,000 after buying an additional 345,962,033 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Alphabet by 1,770.6% during the third quarter. Price T Rowe Associates Inc. MD now owns 203,484,912 shares of the information services provider’s stock worth $19,639,414,000 after buying an additional 192,607,045 shares during the period. State Street Corp boosted its position in shares of Alphabet by 1,851.7% during the third quarter. State Street Corp now owns 196,897,894 shares of the information services provider’s stock worth $18,931,733,000 after buying an additional 186,809,281 shares during the period. Finally, Moneta Group Investment Advisors LLC boosted its position in shares of Alphabet by 61,587.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock worth $11,539,004,000 after buying an additional 129,835,437 shares during the period. 27.17% of the stock is currently owned by institutional investors.
Alphabet Stock Performance
NASDAQ:GOOG opened at $120.97 on Monday. The stock has a market cap of $1.54 trillion, a P/E ratio of 26.94, a PEG ratio of 1.54 and a beta of 1.09. The stock has a 50 day simple moving average of $118.76 and a 200 day simple moving average of $104.71. The company has a current ratio of 2.35, a quick ratio of 2.32 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 1-year low of $83.45 and a 1-year high of $129.55.
Insider Buying and Selling
In other Alphabet news, Director Kavitark Ram Shriram sold 37,500 shares of Alphabet stock in a transaction on Friday, May 5th. The stock was sold at an average price of $105.04, for a total value of $3,939,000.00. Following the completion of the transaction, the director now directly owns 107,240 shares of the company’s stock, valued at approximately $11,264,489.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Kavitark Ram Shriram sold 37,500 shares of the business’s stock in a transaction on Friday, May 5th. The stock was sold at an average price of $105.04, for a total transaction of $3,939,000.00. Following the completion of the transaction, the director now owns 107,240 shares of the company’s stock, valued at approximately $11,264,489.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 637 shares of the business’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $107.51, for a total value of $68,483.87. Following the transaction, the chief accounting officer now directly owns 25,937 shares of the company’s stock, valued at approximately $2,788,486.87. The disclosure for this sale can be found here. In the last ninety days, insiders sold 816,599 shares of company stock valued at $24,142,177. Insiders own 12.99% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on the company. 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. Robert W. Baird increased their price target on Alphabet from $120.00 to $123.00 in a research report on Wednesday, April 26th. Oppenheimer reduced their price target on Alphabet from $155.00 to $135.00 in a research report on Monday, April 24th. Finally, Raymond James increased their price target on Alphabet from $119.00 to $130.00 in a research report on Wednesday, April 26th. One investment 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 stock presently has an average rating of “Moderate Buy” and an average target price of $132.80.
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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