Sterneck Capital Management LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 0.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,555 shares of the information services provider’s stock after purchasing an additional 125 shares during the period. Alphabet makes up 1.8% of Sterneck Capital Management LLC’s portfolio, making the stock its 14th largest holding. Sterneck Capital Management LLC’s holdings in Alphabet were worth $2,866,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Alphabet by 1,885.5% in the 3rd quarter. Vanguard Group Inc. now owns 422,194,039 shares of the information services provider’s stock valued at $40,593,957,000 after purchasing an additional 400,930,216 shares in the last quarter. BlackRock Inc. raised its stake in shares of Alphabet by 1,857.3% during the 3rd quarter. BlackRock Inc. now owns 364,589,580 shares of the information services provider’s stock worth $35,055,286,000 after acquiring an additional 345,962,033 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Alphabet by 1,770.6% during the 3rd 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 acquiring an additional 192,607,045 shares in the last quarter. State Street Corp raised its stake in shares of Alphabet by 1,851.7% during the 3rd quarter. State Street Corp now owns 196,897,894 shares of the information services provider’s stock worth $18,931,733,000 after acquiring an additional 186,809,281 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC raised its stake in shares of Alphabet by 61,587.1% during the 4th 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 acquiring an additional 129,835,437 shares in the last quarter. 27.17% of the stock is owned by hedge funds and other institutional investors.
Alphabet Stock Performance
Shares of NASDAQ GOOG opened at $120.56 on Wednesday. The company’s fifty day moving average price is $119.36 and its 200 day moving average price is $105.13. Alphabet Inc. has a 1 year low of $83.45 and a 1 year high of $129.55. The company has a market capitalization of $1.53 trillion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 1.55 and a beta of 1.07. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.32 and a current ratio of 2.35.
Analyst Upgrades and Downgrades
Several research analysts recently commented on GOOG shares. UBS Group boosted their price objective on shares of Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. Robert W. Baird boosted their price objective on shares of Alphabet from $120.00 to $123.00 in a research note on Wednesday, April 26th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Alphabet from $120.00 to $125.00 in a research report on Wednesday, April 26th. Raymond James boosted their target price on shares of Alphabet from $119.00 to $130.00 in a research report on Wednesday, April 26th. Finally, Oppenheimer dropped their target price on shares of Alphabet from $155.00 to $135.00 in a research report on Monday, April 24th. 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, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $132.80.
Insider Buying and Selling
In related news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the stock in a transaction on Monday, May 8th. The shares were sold at an average price of $14.13, for a total transaction of $1,423,908.36. Following the sale, the insider now directly owns 11,421,476 shares of the company’s stock, valued at $161,385,455.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the company’s stock in a transaction on Monday, May 8th. The shares were 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 directly owns 11,421,476 shares in the company, valued at $161,385,455.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frances Arnold sold 240 shares of the company’s stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $120.02, for a total transaction of $28,804.80. Following the transaction, the director now owns 13,040 shares of the company’s stock, valued at $1,565,060.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 816,599 shares of company stock valued at $24,142,177. Corporate insiders own 12.99% of the company’s stock.
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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