Gilman Hill Asset Management LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 8.8% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,910 shares of the information services provider’s stock after selling 857 shares during the period. Gilman Hill Asset Management LLC’s holdings in Alphabet were worth $924,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. FourThought Financial Partners LLC bought a new position in Alphabet in the fourth quarter worth about $5,415,000. Glenview Trust Co lifted its holdings in Alphabet by 10.7% in the fourth quarter. Glenview Trust Co now owns 458,830 shares of the information services provider’s stock worth $40,483,000 after acquiring an additional 44,278 shares during the last quarter. Bfsg LLC lifted its holdings in Alphabet by 160.5% in the fourth quarter. Bfsg LLC now owns 8,075 shares of the information services provider’s stock worth $712,000 after acquiring an additional 4,975 shares during the last quarter. Ibex Investors LLC bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $2,617,000. Finally, Arjuna Capital raised its holdings in shares of Alphabet by 2.8% during the fourth quarter. Arjuna Capital now owns 127,545 shares of the information services provider’s stock valued at $11,253,000 after buying an additional 3,427 shares during the last quarter. 35.38% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Trading Down 1.3 %
Shares of NASDAQ:GOOGL opened at $120.11 on Friday. The firm has a fifty day moving average of $119.30 and a two-hundred day moving average of $104.73. The firm has a market capitalization of $1.53 trillion, a P/E ratio of 26.75, a price-to-earnings-growth ratio of 1.53 and a beta of 1.06. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $129.04. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05.
Insider Buying and Selling at Alphabet
In related 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 value of $68,483.87. Following the completion of the sale, the chief accounting officer now owns 25,937 shares of the company’s stock, valued at approximately $2,788,486.87. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, SVP Prabhakar Raghavan sold 16,083 shares of Alphabet stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $120.31, for a total value 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 completion of 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 disclosure for this sale can be found here. Insiders sold 810,248 shares of company stock valued at $25,702,475 in the last quarter. Company insiders own 0.88% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the company. StockNews.com began coverage on Alphabet in a report on Thursday, May 18th. They set a “buy” rating on the stock. Wolfe Research boosted their target price on Alphabet from $120.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. 888 reissued a “downgrade” rating on shares of Alphabet in a report on Monday, June 26th. Truist Financial boosted their target price on Alphabet from $120.00 to $122.00 and gave the stock a “buy” rating in a report on Wednesday, April 26th. Finally, Evercore ISI boosted their target price on Alphabet from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Seven analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet currently has a consensus 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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