Levin Capital Strategies L.P. trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 12.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 134,987 shares of the information services provider’s stock after selling 19,078 shares during the quarter. Alphabet accounts for approximately 1.7% of Levin Capital Strategies L.P.’s holdings, making the stock its 18th largest position. Levin Capital Strategies L.P.’s holdings in Alphabet were worth $14,039,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp increased its stake in shares of Alphabet by 1,851.7% in the 3rd quarter. State Street Corp now owns 196,897,894 shares of the information services provider’s stock worth $18,931,733,000 after purchasing an additional 186,809,281 shares in the last quarter. Moneta Group Investment Advisors LLC increased its stake in shares of Alphabet by 61,587.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock worth $11,539,004,000 after purchasing an additional 129,835,437 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Alphabet by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 97,481,034 shares of the information services provider’s stock worth $8,631,760,000 after purchasing an additional 988,569 shares in the last quarter. Morgan Stanley increased its stake in shares of Alphabet by 37.6% in the 4th quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock worth $6,368,961,000 after purchasing an additional 19,612,974 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of Alphabet by 1,862.3% in the 3rd quarter. Alliancebernstein L.P. now owns 63,184,850 shares of the information services provider’s stock worth $6,075,223,000 after purchasing an additional 59,964,963 shares in the last quarter. 27.17% of the stock is owned by institutional investors.
Alphabet Stock Up 0.7 %
Shares of NASDAQ:GOOG opened at $117.71 on Wednesday. The company has a current ratio of 2.35, a quick ratio of 2.32 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12 month low of $83.45 and a 12 month high of $129.55. The company has a 50-day moving average price of $120.63 and a 200 day moving average price of $106.19. The company has a market cap of $1.49 trillion, a price-to-earnings ratio of 26.22, a PEG ratio of 1.54 and a beta of 1.07.
Insiders Place Their Bets
In other Alphabet news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The shares were 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 the SEC website. In other Alphabet news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The shares were 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 the SEC website. Also, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction dated Tuesday, May 2nd. The stock was 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 a total of 832,682 shares of company stock valued at $26,077,123 over the last 90 days. Insiders own 12.99% of the company’s stock.
Wall Street Analyst Weigh In
GOOG has been the subject of a number of analyst reports. Robert W. Baird increased their price target on Alphabet from $120.00 to $123.00 in a research note on Wednesday, April 26th. UBS Group increased their price target on Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. Raymond James increased their price target on Alphabet from $119.00 to $130.00 in a research note on Wednesday, April 26th. Oppenheimer cut their price target on Alphabet from $155.00 to $135.00 in a research note on Monday, April 24th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Alphabet from $120.00 to $125.00 in a research note on Wednesday, April 26th. One equities research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $131.77.
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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