Pasadena Private Wealth LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 8.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,153 shares of the information services provider’s stock after selling 720 shares during the quarter. Pasadena Private Wealth LLC’s holdings in Alphabet were worth $846,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the business. Western Financial Corp CA acquired a new position in shares of Alphabet during the 1st quarter worth $205,000. Gratus Capital LLC increased its stake in shares of Alphabet by 1.3% during the 1st quarter. Gratus Capital LLC now owns 165,042 shares of the information services provider’s stock worth $17,120,000 after purchasing an additional 2,123 shares during the last quarter. KG&L Capital Management LLC grew its stake in Alphabet by 19.3% in the 1st quarter. KG&L Capital Management LLC now owns 72,887 shares of the information services provider’s stock valued at $7,561,000 after buying an additional 11,815 shares during the last quarter. Ritholtz Wealth Management grew its stake in Alphabet by 16.1% in the 1st quarter. Ritholtz Wealth Management now owns 99,055 shares of the information services provider’s stock valued at $10,275,000 after buying an additional 13,708 shares during the last quarter. Finally, Pennsylvania Capital Management Inc. ADV grew its stake in Alphabet by 25.3% in the 1st quarter. Pennsylvania Capital Management Inc. ADV now owns 29,425 shares of the information services provider’s stock valued at $3,052,000 after buying an additional 5,941 shares during the last quarter. Institutional investors and hedge funds own 35.38% of the company’s stock.
Alphabet Stock Down 1.3 %
Shares of NASDAQ:GOOGL opened at $120.11 on Friday. Alphabet Inc. has a one year low of $83.34 and a one year high of $129.04. The company has a 50 day moving average of $119.30 and a 200-day moving average of $104.73. 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 stock has a market cap of $1.53 trillion, a price-to-earnings ratio of 26.75, a P/E/G ratio of 1.53 and a beta of 1.06.
Insider Transactions at Alphabet
In related news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of Alphabet stock in a transaction that occurred 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 transaction, the insider now owns 11,421,476 shares of the company’s stock, valued at approximately $161,385,455.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of Alphabet stock in a transaction that occurred 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 transaction, the chief accounting officer now 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 accessible through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of Alphabet stock in a transaction that occurred 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 approximately $161,385,455.88. The disclosure for this sale can be found here. Insiders sold a total of 810,248 shares of company stock worth $25,702,475 in the last quarter. 0.88% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the stock. Citigroup raised their target price on shares of Alphabet from $120.00 to $130.00 in a research note on Wednesday, April 26th. Robert W. Baird raised their target price on shares of Alphabet from $120.00 to $123.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. Wells Fargo & Company assumed coverage on shares of Alphabet in a research note on Wednesday, June 7th. They issued an “equal weight” rating and a $117.00 target price on the stock. Raymond James raised their target price on shares of Alphabet from $119.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. Finally, Oppenheimer increased their price target on shares of Alphabet from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Wednesday, April 26th. Seven investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $129.54.
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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