Cabot Wealth Management Inc. lowered its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 0.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 144,402 shares of the information services provider’s stock after selling 1,336 shares during the period. Alphabet comprises approximately 2.4% of Cabot Wealth Management Inc.’s holdings, making the stock its 6th largest position. Cabot Wealth Management Inc.’s holdings in Alphabet were worth $15,018,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in GOOG. DC Investments Management LLC acquired a new stake in shares of Alphabet during the 1st quarter valued at approximately $115,000. Guardian Wealth Management Inc. acquired a new stake in shares of Alphabet during the 1st quarter valued at approximately $184,000. Turim 21 Investimentos Ltda. lifted its position in shares of Alphabet by 10.8% during the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after acquiring an additional 8 shares during the period. qPULA Trading Management LP acquired a new stake in shares of Alphabet during the 1st quarter valued at approximately $279,000. Finally, Wayfinding Financial LLC acquired a new stake in shares of Alphabet during the 4th quarter valued at approximately $294,000. Institutional investors and hedge funds own 27.17% of the company’s stock.
Alphabet Stock Up 1.7 %
GOOG stock opened at $122.63 on Thursday. The stock has a market capitalization of $1.56 trillion, a P/E ratio of 27.31, a PEG ratio of 1.54 and a beta of 1.06. 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 $83.45 and a one year high of $129.55. The company has a 50 day moving average price of $119.72 and a two-hundred day moving average price of $105.25.
Analyst Ratings Changes
GOOG has been the subject of a number of research reports. Raymond James lifted their price target on shares of Alphabet from $119.00 to $130.00 in a research report on Wednesday, April 26th. Oppenheimer reduced their price target on shares of Alphabet from $155.00 to $135.00 in a research report on Monday, April 24th. UBS Group lifted their price target on shares of Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research report on Thursday, April 6th. Deutsche Bank Aktiengesellschaft lifted their price objective on Alphabet from $120.00 to $125.00 in a research report on Wednesday, April 26th. Finally, Robert W. Baird lifted their price objective on Alphabet from $120.00 to $123.00 in a research report on Wednesday, April 26th. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $132.80.
Insider Activity
In other news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total transaction of $25,130.00. Following the completion of the sale, the director now directly 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 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 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 sale, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $125.65, for a total transaction of $25,130.00. Following the sale, the director now directly owns 5,740 shares of the company’s stock, valued at $721,231. The disclosure for this sale can be found here. Insiders sold 832,682 shares of company stock valued at $26,077,123 in the last ninety days. Company insiders own 12.99% of the company’s stock.
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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