Shikiar Asset Management Inc. purchased a new stake in Alphabet Inc. (NASDAQ:GOOG – Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 115,425 shares of the information services provider’s stock, valued at approximately $12,004,000. Alphabet comprises about 4.3% of Shikiar Asset Management Inc.’s investment portfolio, making the stock its 4th largest position.
Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Alphabet by 1,885.5% in the third quarter. Vanguard Group Inc. now owns 422,194,039 shares of the information services provider’s stock valued at $40,593,957,000 after acquiring an additional 400,930,216 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Alphabet by 1,770.6% in the third 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 acquiring an additional 192,607,045 shares during the period. State Street Corp boosted its holdings in shares of Alphabet by 1,851.7% in the third quarter. State Street Corp now owns 196,897,894 shares of the information services provider’s stock valued at $18,931,733,000 after acquiring an additional 186,809,281 shares during the period. Moneta Group Investment Advisors LLC boosted its holdings in shares of Alphabet by 61,587.1% in the fourth 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 acquiring an additional 129,835,437 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Alphabet by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 97,481,034 shares of the information services provider’s stock valued at $8,631,760,000 after acquiring an additional 988,569 shares during the period. 27.17% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet Trading Down 1.4 %
Shares of GOOG stock opened at $120.93 on Friday. Alphabet Inc. has a fifty-two week low of $83.45 and a fifty-two week high of $129.55. The stock has a market cap of $1.54 trillion, a P/E ratio of 26.93, a P/E/G ratio of 1.54 and a beta of 1.06. The business has a fifty day simple moving average of $119.97 and a 200-day simple moving average of $105.36. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05.
Analyst Ratings Changes
Several equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft increased their price target on Alphabet from $120.00 to $125.00 in a report on Wednesday, April 26th. Oppenheimer decreased their price target on Alphabet from $155.00 to $135.00 in a report on Monday, April 24th. Robert W. Baird increased their price target on Alphabet from $120.00 to $123.00 in a report on Wednesday, April 26th. Raymond James increased their price target on Alphabet from $119.00 to $130.00 in a report on Wednesday, April 26th. Finally, UBS Group raised their target price on Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a report on Thursday, April 6th. One investment analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $132.80.
Insider Buying and Selling
In related news, major shareholder 2021 Gp L.L.C. Gv acquired 309,931 shares of the company’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was purchased at an average price of $28.34 per share, for a total transaction of $8,783,444.54. Following the transaction, the insider now owns 2,243,665 shares in the company, valued at approximately $63,585,466.10. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Tuesday, June 13th. The stock was 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 owns 5,740 shares in the company, valued at approximately $721,231. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder 2021 Gp L.L.C. Gv acquired 309,931 shares of the company’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were bought at an average price of $28.34 per share, with a total value of $8,783,444.54. Following the transaction, the insider now owns 2,243,665 shares in the company, valued at approximately $63,585,466.10. The disclosure for this purchase can be found here. In the last quarter, insiders sold 832,682 shares of company stock worth $26,077,123. 12.99% of the stock is owned by corporate insiders.
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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