Pennsylvania Capital Management Inc. ADV grew its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 25.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,425 shares of the information services provider’s stock after buying an additional 5,941 shares during the period. Alphabet accounts for about 1.5% of Pennsylvania Capital Management Inc. ADV’s holdings, making the stock its 15th biggest holding. Pennsylvania Capital Management Inc. ADV’s holdings in Alphabet were worth $3,052,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in GOOGL. VitalStone Financial LLC acquired a new stake in Alphabet during the 4th quarter worth about $25,000. Live Oak Investment Partners bought a new stake in shares of Alphabet during the 4th quarter valued at about $26,000. McElhenny Sheffield Capital Management LLC acquired a new stake in Alphabet during the fourth quarter worth approximately $33,000. Sanctuary Wealth Management L.L.C. bought a new stake in Alphabet in the fourth quarter worth approximately $34,000. Finally, Turim 21 Investimentos Ltda. acquired a new position in Alphabet in the third quarter valued at approximately $38,000. 35.38% of the stock is currently owned by institutional investors.
Alphabet Stock Down 1.3 %
Shares of NASDAQ:GOOGL opened at $120.11 on Friday. The company has a market cap of $1.53 trillion, a price-to-earnings ratio of 26.75, a PEG ratio of 1.53 and a beta of 1.06. Alphabet Inc. has a one year low of $83.34 and a one year high of $129.04. The firm has a fifty day moving average price of $119.30 and a two-hundred day moving average price 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.
Insider Buying and Selling
In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of Alphabet 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 in the company, valued at $15,282,738.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Alphabet news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total value of $25,130.00. Following the completion of the sale, the director now owns 5,740 shares of the company’s stock, valued at $721,231. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction, the senior vice president now owns 127,028 shares in the company, valued at $15,282,738.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 810,248 shares of company stock worth $25,702,475. Insiders own 0.88% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on GOOGL shares. UBS Group downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $123.00 to $132.00 in a research report on Monday, June 26th. Robert W. Baird lifted their price target 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. Credit Suisse Group cut their price objective on shares of Alphabet from $136.00 to $135.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 26th. Sanford C. Bernstein lowered Alphabet from an “outperform” rating to a “market perform” rating and set a $125.00 target price for the company. in a research report on Tuesday, June 27th. Finally, Stifel Nicolaus started coverage on Alphabet in a report on Monday, March 20th. They set a “buy” rating and a $130.00 price objective for the company. Seven 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. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $129.54.
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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