Alta Capital Management LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 889,249 shares of the information services provider’s stock after selling 9,880 shares during the quarter. Alphabet accounts for 6.8% of Alta Capital Management LLC’s holdings, making the stock its largest position. Alta Capital Management LLC’s holdings in Alphabet were worth $92,242,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. VitalStone Financial LLC acquired a new position in shares of Alphabet in the 4th quarter valued at approximately $25,000. Live Oak Investment Partners acquired a new position in Alphabet during the fourth quarter valued at approximately $26,000. McElhenny Sheffield Capital Management LLC bought a new stake in Alphabet during the fourth quarter worth $33,000. Sanctuary Wealth Management L.L.C. acquired a new stake in shares of Alphabet in the 4th quarter valued at $34,000. Finally, Turim 21 Investimentos Ltda. bought a new position in shares of Alphabet in the 3rd quarter valued at $38,000. 35.38% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Trading Up 4.7 %
Shares of Alphabet stock opened at $124.54 on Friday. The stock has a market capitalization of $1.58 trillion, a PE ratio of 27.74, a price-to-earnings-growth ratio of 1.50 and a beta of 1.06. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $129.04. The stock has a 50 day moving average price of $120.63 and a two-hundred day moving average price of $105.79. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.32 and a current ratio of 2.35.
Wall Street Analysts Forecast Growth
GOOGL has been the topic of several research analyst reports. UBS Group lowered Alphabet from a “buy” rating to a “neutral” rating and raised their price objective for the company from $123.00 to $132.00 in a research note on Monday, June 26th. Morgan Stanley lifted their price target on shares of Alphabet from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday, April 26th. Credit Suisse Group lowered their price objective on shares of Alphabet from $136.00 to $135.00 and set an “outperform” rating for the company in a research report on Wednesday, April 26th. Wells Fargo & Company began coverage on shares of Alphabet in a research report on Wednesday, June 7th. They issued an “equal weight” rating and a $117.00 target price on the stock. Finally, Loop Capital downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $125.00 price target for the company. in a report on Monday, May 15th. Seven research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $130.08.
Insider Activity at Alphabet
In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the business’s stock in a transaction that occurred on 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Kavitark Ram Shriram sold 37,500 shares of the company’s stock in a transaction on Friday, May 5th. The shares were sold at an average price of $105.04, for a total value of $3,939,000.00. Following the completion of the sale, the director now owns 107,240 shares in the company, valued at approximately $11,264,489.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total transaction of $68,483.87. Following the transaction, the chief accounting officer now directly owns 25,937 shares in the company, valued at $2,788,486.87. The disclosure for this sale can be found here. In the last quarter, insiders have sold 810,448 shares of company stock valued at $25,727,475. 0.88% of the stock is owned by corporate insiders.
About Alphabet
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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