Tributary Capital Management LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 2.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,600 shares of the information services provider’s stock after selling 300 shares during the quarter. Tributary Capital Management LLC’s holdings in Alphabet were worth $1,310,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in GOOG. Moneta Group Investment Advisors LLC increased its stake in shares of Alphabet by 61,587.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock valued at $11,539,004,000 after buying an additional 129,835,437 shares during the period. Geode Capital Management LLC increased its stake in shares of Alphabet by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 97,481,034 shares of the information services provider’s stock valued at $8,631,760,000 after buying an additional 988,569 shares during the period. Morgan Stanley increased its stake in shares of Alphabet by 37.6% during the fourth quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock valued at $6,368,961,000 after buying an additional 19,612,974 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Alphabet by 1,807.4% during the third quarter. Bank of New York Mellon Corp now owns 57,069,444 shares of the information services provider’s stock valued at $5,487,226,000 after buying an additional 54,077,519 shares during the period. Finally, Norges Bank purchased a new position in shares of Alphabet during the fourth quarter valued at $3,059,614,000. 27.17% of the stock is currently owned by institutional investors.
Alphabet Trading Up 0.7 %
Alphabet stock opened at $125.70 on Friday. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 52 week low of $83.45 and a 52 week high of $129.55. The company has a market capitalization of $1.60 trillion, a price-to-earnings ratio of 28.00, a price-to-earnings-growth ratio of 1.60 and a beta of 1.06. The stock has a 50-day moving average price of $121.68 and a 200 day moving average price of $106.79.
Analysts Set New Price Targets
GOOG has been the topic of several research reports. UBS Group raised 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 lifted their target price on Alphabet from $120.00 to $125.00 in a research note on Wednesday, April 26th. Robert W. Baird lifted their target price on Alphabet from $120.00 to $123.00 in a research note on Wednesday, April 26th. Raymond James lifted their target price on Alphabet from $119.00 to $130.00 in a research note on Wednesday, April 26th. Finally, Oppenheimer cut their target price on Alphabet from $155.00 to $135.00 in a research note on Monday, April 24th. One analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $131.14.
Insider Buying and Selling
In other Alphabet news, Director Kavitark Ram Shriram sold 31,240 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $116.82, for a total value of $3,649,456.80. Following the completion of the transaction, the director now directly owns 5,364 shares of the company’s stock, valued at $626,622.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $120.31, for a total value 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 $15,282,738.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 31,240 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $116.82, for a total value of $3,649,456.80. Following the completion of the transaction, the director now directly owns 5,364 shares of the company’s stock, valued at $626,622.48. The disclosure for this sale can be found here. Insiders sold 864,122 shares of company stock valued at $29,751,580 over the last quarter. 12.99% of the stock is currently owned by company insiders.
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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