Stone House Investment Management LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 804 shares of the information services provider’s stock, valued at approximately $83,000.
Several other hedge funds also recently modified their holdings of GOOGL. FourThought Financial Partners LLC bought a new position in Alphabet in the fourth quarter worth $5,415,000. Glenview Trust Co lifted its position in Alphabet by 10.7% in the fourth quarter. Glenview Trust Co now owns 458,830 shares of the information services provider’s stock worth $40,483,000 after purchasing an additional 44,278 shares during the period. Bfsg LLC lifted its position in Alphabet by 160.5% in the fourth quarter. Bfsg LLC now owns 8,075 shares of the information services provider’s stock worth $712,000 after purchasing an additional 4,975 shares during the period. Marcum Wealth LLC lifted its position in Alphabet by 4.8% in the first quarter. Marcum Wealth LLC now owns 20,372 shares of the information services provider’s stock worth $2,113,000 after purchasing an additional 927 shares during the period. Finally, Ibex Investors LLC bought a new position in Alphabet in the fourth quarter worth $2,617,000. 35.38% of the stock is owned by institutional investors.
Alphabet Price Performance
Shares of GOOGL stock opened at $123.76 on Wednesday. The stock has a 50-day moving average price of $121.69 and a 200 day moving average price of $106.82. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05. The firm has a market cap of $1.57 trillion, a price-to-earnings ratio of 27.56, a PEG ratio of 1.60 and a beta of 1.06. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $129.04.
Insiders Place Their Bets
In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the firm’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $12.72, for a total transaction of $347,128.80. Following the transaction, the insider now owns 10,958,925 shares in the company, valued at $139,397,526. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Alphabet news, Director Kavitark Ram Shriram sold 31,240 shares of the firm’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $116.82, for a total transaction of $3,649,456.80. Following the transaction, the director now owns 5,364 shares in the company, valued at $626,622.48. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the firm’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $12.72, for a total value of $347,128.80. Following the transaction, the insider now owns 10,958,925 shares in the company, valued at approximately $139,397,526. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 841,688 shares of company stock worth $29,376,932. Insiders own 0.88% of the company’s stock.
Analysts Set New Price Targets
Several research analysts recently commented on GOOGL shares. Raymond James raised their target price on Alphabet from $119.00 to $130.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 26th. UBS Group cut Alphabet from a “buy” rating to a “neutral” rating and raised their target price for the stock from $123.00 to $132.00 in a research report on Monday, June 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 target price on shares of Alphabet in a research report on Monday, April 3rd. Morgan Stanley increased their price objective on Alphabet from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 26th. Finally, Royal Bank of Canada increased their price objective on Alphabet from $130.00 to $132.00 in a research note on Wednesday, April 26th. Seven analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $131.53.
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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