Well Done LLC lowered its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 7.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,605 shares of the information services provider’s stock after selling 352 shares during the quarter. Well Done LLC’s holdings in Alphabet were worth $479,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of GOOG. Vanguard Group Inc. raised its stake 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. Price T Rowe Associates Inc. MD raised its stake in shares of Alphabet by 1,770.6% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 203,484,912 shares of the information services provider’s stock valued at $19,639,414,000 after purchasing an additional 192,607,045 shares in the last quarter. State Street Corp grew its position 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 valued at $18,931,733,000 after buying an additional 186,809,281 shares during the last quarter. Moneta Group Investment Advisors LLC grew its position 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 valued at $11,539,004,000 after buying an additional 129,835,437 shares during the last quarter. Finally, Alliancebernstein L.P. grew its position in shares of Alphabet by 1,862.3% during the 3rd quarter. Alliancebernstein L.P. now owns 63,184,850 shares of the information services provider’s stock valued at $6,075,223,000 after buying an additional 59,964,963 shares during the last quarter. Institutional investors and hedge funds own 27.17% of the company’s stock.
Alphabet Stock Down 1.4 %
GOOG stock opened at $120.93 on Friday. Alphabet Inc. has a 12 month low of $83.45 and a 12 month high of $129.55. The firm has a market cap of $1.54 trillion, a PE ratio of 26.93, a P/E/G ratio of 1.54 and a beta of 1.06. The firm has a 50 day simple moving average of $119.97 and a 200 day simple moving average of $105.36. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.32.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on GOOG shares. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Alphabet from $120.00 to $125.00 in a research report on Wednesday, April 26th. Oppenheimer lowered their price objective on shares of Alphabet from $155.00 to $135.00 in a research report on Monday, April 24th. Raymond James boosted their price objective on shares of Alphabet from $119.00 to $130.00 in a research report on Wednesday, April 26th. UBS Group boosted their price objective 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. Finally, Robert W. Baird upped their target price on shares of 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 issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $132.80.
Insider Activity at Alphabet
In related news, SVP Prabhakar Raghavan sold 16,083 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the completion of the sale, the senior vice president now directly owns 127,028 shares of the company’s stock, valued at $15,282,738.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $12.72, for a total value of $347,128.80. Following the completion of the sale, the insider now owns 10,958,925 shares in the company, valued at approximately $139,397,526. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Prabhakar Raghavan sold 16,083 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the completion of the sale, the senior vice president now owns 127,028 shares of the company’s stock, valued at approximately $15,282,738.68. The disclosure for this sale can be found here. Insiders sold a total of 832,682 shares of company stock valued at $26,077,123 over the last ninety days. Insiders own 12.99% of the company’s stock.
About Alphabet
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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