Crumly & Associates Inc. raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 9.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,890 shares of the information services provider’s stock after acquiring an additional 255 shares during the quarter. Crumly & Associates Inc.’s holdings in Alphabet were worth $300,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. VitalStone Financial LLC bought a new position in Alphabet in the 4th quarter worth about $25,000. Live Oak Investment Partners purchased a new position in Alphabet in the fourth quarter worth about $26,000. McElhenny Sheffield Capital Management LLC bought a new position in shares of Alphabet in the fourth quarter worth approximately $33,000. Sanctuary Wealth Management L.L.C. purchased a new stake in shares of Alphabet during the fourth quarter valued at approximately $34,000. Finally, Turim 21 Investimentos Ltda. bought a new stake in shares of Alphabet during the third quarter valued at approximately $38,000. Hedge funds and other institutional investors own 35.38% of the company’s stock.
Alphabet Stock Up 4.7 %
Shares of GOOGL opened at $124.54 on Friday. The business’s 50 day simple moving average is $120.63 and its 200-day simple moving average is $105.79. Alphabet Inc. has a 1 year low of $83.34 and a 1 year 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 $1.58 trillion, a price-to-earnings ratio of 27.74, a price-to-earnings-growth ratio of 1.50 and a beta of 1.06.
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 sale, the chief accounting officer now directly owns 25,937 shares of the company’s stock, valued at $2,788,486.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $107.51, for a total value of $68,483.87. Following the completion of the sale, the chief accounting officer now directly owns 25,937 shares in the company, valued at $2,788,486.87. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 16,083 shares of Alphabet stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the transaction, the senior vice president now directly owns 127,028 shares of the company’s stock, valued at $15,282,738.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 810,448 shares of company stock valued at $25,727,475. Insiders own 0.88% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have commented on GOOGL. Royal Bank of Canada increased their target price on Alphabet from $130.00 to $132.00 in a research note on Wednesday, April 26th. Roth Mkm upped their target price on shares of Alphabet from $126.00 to $134.00 and gave the company a “buy” rating in a research note on Wednesday, April 26th. BNP Paribas raised shares of Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 price target on the stock in a report on Friday, March 17th. Credit Suisse Group decreased their price objective on shares of Alphabet from $136.00 to $135.00 and set an “outperform” rating for the company in a report on Wednesday, April 26th. Finally, Sanford C. Bernstein downgraded shares of Alphabet from an “outperform” rating to a “market perform” rating and set a $125.00 target price for the company. in a research report on Tuesday, June 27th. Seven analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $130.08.
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.
Featured Stories
- Five stocks we like better than Alphabet
- Delta Takes Flight: Double-Digit Upside In Sight
- Generac Powers Up as Summer Temperatures Rise
- 3 Reasons Why Rivian Can Continue To Surge Higher
- Despite Breaking Higher, Analysts Remain Cautious HP Inc.
- PepsiCo Can Soar To New Highs In The 2nd Half
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.
