Gilman Hill Asset Management LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 7.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,765 shares of the information services provider’s stock after selling 1,645 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Alphabet were worth $2,056,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also modified their holdings of the stock. Ritholtz Wealth Management increased its stake in shares of Alphabet by 20.1% in the first quarter. Ritholtz Wealth Management now owns 80,189 shares of the information services provider’s stock worth $8,340,000 after acquiring an additional 13,432 shares during the last quarter. Pennsylvania Capital Management Inc. ADV increased its stake in shares of Alphabet by 0.7% in the first quarter. Pennsylvania Capital Management Inc. ADV now owns 27,000 shares of the information services provider’s stock worth $2,808,000 after acquiring an additional 180 shares during the last quarter. Capital Advisory Group Advisory Services LLC increased its stake in shares of Alphabet by 2.1% in the first quarter. Capital Advisory Group Advisory Services LLC now owns 8,833 shares of the information services provider’s stock worth $919,000 after acquiring an additional 185 shares during the last quarter. Sterneck Capital Management LLC increased its position in Alphabet by 0.5% during the first quarter. Sterneck Capital Management LLC now owns 27,555 shares of the information services provider’s stock worth $2,866,000 after buying an additional 125 shares during the last quarter. Finally, Nadler Financial Group Inc. increased its position in Alphabet by 0.4% during the first quarter. Nadler Financial Group Inc. now owns 28,685 shares of the information services provider’s stock worth $2,983,000 after buying an additional 102 shares during the last quarter. 27.17% of the stock is owned by institutional investors and hedge funds.
Alphabet Stock Performance
Shares of Alphabet stock opened at $120.56 on Wednesday. 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 firm has a market cap of $1.53 trillion, a P/E ratio of 26.85, a P/E/G ratio of 1.55 and a beta of 1.07. The firm has a 50 day simple moving average of $119.36 and a 200 day simple moving average of $105.13. Alphabet Inc. has a fifty-two week low of $83.45 and a fifty-two week high of $129.55.
Insider Transactions at Alphabet
In other news, CAO Amie Thuener O’toole sold 637 shares of Alphabet stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total transaction of $68,483.87. Following the transaction, the chief accounting officer now directly owns 25,937 shares of the company’s stock, valued at $2,788,486.87. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CAO Amie Thuener O’toole sold 637 shares of the business’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total value of $68,483.87. Following the sale, the chief accounting officer now directly owns 25,937 shares of the company’s stock, valued at approximately $2,788,486.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 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 directly owns 2,243,665 shares in the company, valued at approximately $63,585,466.10. The disclosure for this purchase can be found here. Insiders have sold a total of 816,599 shares of company stock valued at $24,142,177 over the last three months. 12.99% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
GOOG has been the topic of several analyst reports. UBS Group increased their target price on shares of 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 increased their target price on shares of Alphabet from $120.00 to $125.00 in a research report on Wednesday, April 26th. Robert W. Baird increased their target price on shares of Alphabet from $120.00 to $123.00 in a research report on Wednesday, April 26th. Raymond James raised their price target on Alphabet from $119.00 to $130.00 in a research report on Wednesday, April 26th. Finally, Oppenheimer reduced their target price on shares of Alphabet from $155.00 to $135.00 in a research note on Monday, April 24th. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus 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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