Plimoth Trust Co. LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,872 shares of the information services provider’s stock after buying an additional 984 shares during the period. Alphabet makes up 2.1% of Plimoth Trust Co. LLC’s holdings, making the stock its 5th largest position. Plimoth Trust Co. LLC’s holdings in Alphabet were worth $6,833,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in the business. VitalStone Financial LLC purchased a new stake in Alphabet during the 4th quarter valued at about $25,000. Live Oak Investment Partners purchased a new stake in Alphabet during the 4th quarter valued at about $26,000. Sanctuary Wealth Management L.L.C. purchased a new stake in Alphabet during the 4th quarter valued at about $34,000. Turim 21 Investimentos Ltda. purchased a new stake in Alphabet during the 3rd quarter valued at about $38,000. Finally, IAG Wealth Partners LLC boosted its stake in shares of Alphabet by 100.0% in the first quarter. IAG Wealth Partners LLC now owns 400 shares of the information services provider’s stock worth $41,000 after buying an additional 200 shares during the last quarter. 35.38% of the stock is owned by institutional investors and hedge funds.
Alphabet Trading Down 1.4 %
NASDAQ:GOOGL opened at $122.03 on Thursday. The firm has a market cap of $1.55 trillion, a PE ratio of 27.18, a price-to-earnings-growth ratio of 1.59 and a beta of 1.06. The stock has a fifty day moving average price of $121.90 and a 200 day moving average price of $106.92. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $129.04. The company has a current ratio of 2.35, a quick ratio of 2.32 and a debt-to-equity ratio of 0.05.
Insider Activity at Alphabet
In other Alphabet news, Director John L. Hennessy sold 200 shares of the firm’s 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 directly owns 5,740 shares in the company, valued at $721,231. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Kavitark Ram Shriram sold 31,240 shares of Alphabet 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 sale, the director now owns 5,364 shares in the company, valued at $626,622.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated 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 in the company, valued at approximately $721,231. The disclosure for this sale can be found here. Over the last three months, insiders sold 841,688 shares of company stock worth $29,376,932. Company insiders own 0.88% of the company’s stock.
Wall Street Analysts Forecast Growth
GOOGL has been the topic of a number of recent research reports. UBS Group downgraded Alphabet from a “buy” rating to a “neutral” rating and upped their target price for the stock from $123.00 to $132.00 in a research note on Monday, June 26th. Tigress Financial upped their target price on Alphabet from $160.00 to $172.00 and gave the stock a “strong-buy” rating in a research note on Friday, July 14th. Truist Financial upped their target price on Alphabet from $120.00 to $122.00 and gave the stock a “buy” rating in a research note on Wednesday, April 26th. StockNews.com began coverage on Alphabet in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. Finally, TD Cowen increased their price target on Alphabet from $130.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, July 13th. Seven analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet has an average 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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