Pflug Koory LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 2.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,690 shares of the information services provider’s stock after buying an additional 215 shares during the quarter. Pflug Koory LLC’s holdings in Alphabet were worth $1,109,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bornite Capital Management LP acquired a new position in Alphabet in the first quarter worth about $16,688,000. Markel Corp grew its stake in shares of Alphabet by 17.0% in the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after purchasing an additional 2,250 shares during the period. United Bank raised its holdings in shares of Alphabet by 5.9% in the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after buying an additional 113 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Alphabet by 23.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after buying an additional 61,427 shares during the period. Finally, Dakota Wealth Management boosted its stake in Alphabet by 20.4% in the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after buying an additional 1,570 shares in the last quarter. 35.38% of the stock is currently owned by institutional investors.
Alphabet Trading Down 0.5 %
NASDAQ:GOOGL opened at $119.48 on Friday. The business’s 50-day simple moving average is $119.54 and its 200-day simple moving average is $104.94. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $129.04. 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 capitalization of $1.52 trillion, a PE ratio of 26.61, a price-to-earnings-growth ratio of 1.56 and a beta of 1.06.
Insider Buying and Selling
In other news, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the business’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $12.72, for a total value of $347,128.80. Following the sale, the insider now directly owns 10,958,925 shares in the company, valued at $139,397,526. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, SVP Prabhakar Raghavan sold 16,083 shares of the firm’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 transaction, the senior vice president now directly owns 127,028 shares of the company’s stock, valued at approximately $15,282,738.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the business’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $12.72, for a total transaction of $347,128.80. Following the completion of the sale, the insider now directly owns 10,958,925 shares in the company, valued at approximately $139,397,526. The disclosure for this sale can be found here. In the last ninety days, insiders sold 810,248 shares of company stock valued at $25,702,475. Company insiders own 0.88% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on GOOGL. UBS Group cut Alphabet from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $123.00 to $132.00 in a report on Monday, June 26th. Loop Capital cut shares of Alphabet from a “buy” rating to a “hold” rating and set a $125.00 price objective on the stock. in a research note on Monday, May 15th. JMP Securities reiterated a “market outperform” rating and issued a $132.00 target price on shares of Alphabet in a research note on Thursday, March 16th. Oppenheimer boosted their target price on Alphabet from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Finally, Credit Suisse Group cut their price objective on Alphabet from $136.00 to $135.00 and set an “outperform” rating for the company in a research report on Wednesday, April 26th. Seven analysts have rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus 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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