Herold Advisors Inc. increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 152.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 35,159 shares of the information services provider’s stock after purchasing an additional 21,229 shares during the quarter. Alphabet accounts for 1.3% of Herold Advisors Inc.’s holdings, making the stock its 16th biggest position. Herold Advisors Inc.’s holdings in Alphabet were worth $3,647,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in GOOGL. DC Investments Management LLC acquired a new stake in shares of Alphabet during the first quarter worth $114,000. Bridgefront Capital LLC bought a new position in shares of Alphabet in the first quarter worth $225,000. Worth Asset Management LLC bought a new position in shares of Alphabet in the first quarter worth $206,000. Eudaimonia Advisors LLC increased its position in shares of Alphabet by 15.1% in the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after purchasing an additional 13 shares during the period. Finally, Aspire Capital Advisors LLC acquired a new position in Alphabet during the first quarter worth about $281,000. 35.38% of the stock is owned by institutional investors.
Alphabet Stock Up 0.2 %
GOOGL opened at $119.90 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.32 and a current ratio of 2.35. Alphabet Inc. has a one year low of $83.34 and a one year high of $129.04. The business’s 50-day simple moving average is $118.69 and its 200-day simple moving average is $104.50. The stock has a market capitalization of $1.52 trillion, a P/E ratio of 26.70, a price-to-earnings-growth ratio of 1.53 and a beta of 1.06.
Insider Buying and Selling at Alphabet
In other Alphabet news, Director John L. Hennessy sold 200 shares of Alphabet 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 owns 5,740 shares of the company’s stock, valued at approximately $721,231. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director John L. Hennessy sold 200 shares of Alphabet 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 completion of the transaction, the director now directly owns 5,740 shares in the company, valued at approximately $721,231. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv acquired 309,931 shares of the business’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were bought at an average price of $28.34 per share, with a total value of $8,783,444.54. Following the completion of the transaction, 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. In the last 90 days, insiders have sold 794,165 shares of company stock valued at $23,767,530. 0.88% of the stock is owned by corporate insiders.
Analyst Ratings Changes
GOOGL has been the subject of several recent research reports. Wells Fargo & Company initiated coverage on Alphabet in a research note on Wednesday, June 7th. They issued an “equal weight” rating and a $117.00 price objective for the company. BNP Paribas upgraded Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 price target on the stock in a report on Friday, March 17th. Morgan Stanley increased their target price on Alphabet from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Wednesday, April 26th. Raymond James increased their price target on Alphabet from $119.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, April 26th. Finally, Stifel Nicolaus began coverage on Alphabet in a research report on Monday, March 20th. They set a “buy” rating and a $130.00 target price for the company. Seven analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $129.63.
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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