Gratus Capital LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 95.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,271 shares of the information services provider’s stock after buying an additional 19,668 shares during the period. Gratus Capital LLC’s holdings in Alphabet were worth $4,188,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. DC Investments Management LLC bought a new position in Alphabet during the first quarter valued at about $115,000. Guardian Wealth Management Inc. bought a new position in Alphabet during the first quarter valued at about $184,000. Turim 21 Investimentos Ltda. raised its holdings in Alphabet by 10.8% during the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after buying an additional 8 shares in the last quarter. qPULA Trading Management LP bought a new position in Alphabet during the first quarter valued at about $279,000. Finally, Wayfinding Financial LLC bought a new position in Alphabet during the fourth quarter valued at about $294,000. 27.17% of the stock is currently owned by institutional investors.
Alphabet Stock Down 0.3 %
NASDAQ GOOG opened at $120.56 on Wednesday. The company has a current ratio of 2.35, a quick ratio of 2.32 and a debt-to-equity ratio of 0.05. The stock’s 50 day moving average is $119.36 and its two-hundred day moving average is $105.13. The company has a market capitalization of $1.53 trillion, a price-to-earnings ratio of 26.85, a PEG ratio of 1.55 and a beta of 1.07. Alphabet Inc. has a 1-year low of $83.45 and a 1-year high of $129.55.
Insider Buying and Selling at Alphabet
In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv bought 309,931 shares of Alphabet stock in a transaction dated Wednesday, May 3rd. The shares were acquired at an average cost of $28.34 per share, with a total value of $8,783,444.54. Following the acquisition, the insider now directly owns 2,243,665 shares of the company’s stock, valued at $63,585,466.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $14.13, for a total value of $1,423,908.36. Following the transaction, the insider now directly owns 11,421,476 shares of the company’s stock, valued at approximately $161,385,455.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv bought 309,931 shares of Alphabet stock in a transaction dated Wednesday, May 3rd. The stock was acquired at an average cost of $28.34 per share, for a total transaction of $8,783,444.54. Following the completion of the acquisition, the insider now directly owns 2,243,665 shares in the company, valued at $63,585,466.10. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 816,599 shares of company stock valued at $24,142,177. 12.99% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Several equities analysts have weighed in on GOOG shares. Deutsche Bank Aktiengesellschaft raised their target price on Alphabet from $120.00 to $125.00 in a report on Wednesday, April 26th. Robert W. Baird lifted their price objective on Alphabet from $120.00 to $123.00 in a research note on Wednesday, April 26th. Raymond James lifted their price objective on Alphabet from $119.00 to $130.00 in a research note on Wednesday, April 26th. Oppenheimer dropped their price objective on Alphabet from $155.00 to $135.00 in a research note on Monday, April 24th. Finally, UBS Group lifted their price objective on Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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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