Patten & Patten Inc. TN trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 2.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,365 shares of the information services provider’s stock after selling 2,295 shares during the quarter. Patten & Patten Inc. TN’s holdings in Alphabet were worth $9,606,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in GOOG. Totem Point Management LLC grew its holdings in Alphabet by 22.0% in the 1st quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock worth $8,857,000 after buying an additional 571 shares in the last quarter. Somerville Kurt F grew its holdings in Alphabet by 10.3% in the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after buying an additional 11 shares in the last quarter. BCK Partners Inc. bought a new position in Alphabet in the 1st quarter worth approximately $2,564,000. Hall Capital Management Co. Inc. boosted its stake in Alphabet by 53.2% during the 1st quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock valued at $402,000 after purchasing an additional 50 shares in the last quarter. Finally, Fairfield Bush & CO. boosted its stake in Alphabet by 6.8% during the 1st quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock valued at $9,412,000 after purchasing an additional 214 shares in the last quarter. 27.17% of the stock is owned by institutional investors.
Alphabet Price Performance
GOOG opened at $124.83 on Friday. The stock has a fifty day moving average of $121.29 and a 200-day moving average of $106.41. The firm has a market capitalization of $1.58 trillion, a P/E ratio of 27.80, a PEG ratio of 1.51 and a beta of 1.06. Alphabet Inc. has a 12-month low of $83.45 and a 12-month high of $129.55. 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
A number of brokerages have issued reports on GOOG. UBS Group increased their price target on Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research note on Thursday, April 6th. Deutsche Bank Aktiengesellschaft increased their price target on Alphabet from $120.00 to $125.00 in a research note on Wednesday, April 26th. Raymond James increased their price target on Alphabet from $119.00 to $130.00 in a research note on Wednesday, April 26th. Robert W. Baird increased their price target on Alphabet from $120.00 to $123.00 in a research note on Wednesday, April 26th. Finally, Oppenheimer decreased their price target on Alphabet from $155.00 to $135.00 in a research note on Monday, April 24th. One equities research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $131.77.
Insider Buying and Selling
In related news, Director John L. Hennessy sold 200 shares of the stock in a transaction on 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 directly owns 5,740 shares in the company, valued at $721,231. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, major shareholder 2019 Gp L.L.C. Gv sold 100,772 shares of the stock in a transaction on Monday, May 8th. The stock was sold at an average price of $14.13, for a total transaction of $1,423,908.36. Following the completion of the sale, the insider now directly owns 11,421,476 shares in the company, valued at $161,385,455.88. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $125.65, for a total value of $25,130.00. Following the sale, the director now owns 5,740 shares of the company’s stock, valued at $721,231. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 832,882 shares of company stock worth $26,102,123. Corporate insiders own 12.99% of the company’s stock.
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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