Fosun International Ltd cut its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 28.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,185 shares of the information services provider’s stock after selling 23,879 shares during the quarter. Alphabet accounts for approximately 0.6% of Fosun International Ltd’s holdings, making the stock its 11th largest position. Fosun International Ltd’s holdings in Alphabet were worth $6,155,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in GOOG. Moneta Group Investment Advisors LLC raised its stake in Alphabet by 61,587.1% during the 4th 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 last quarter. Geode Capital Management LLC raised its stake in Alphabet by 1.0% during the 4th 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 last quarter. Morgan Stanley raised its stake in Alphabet by 37.6% during the 4th 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 last quarter. Bank of New York Mellon Corp raised its stake in Alphabet by 1,807.4% during the 3rd 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 last quarter. Finally, Norges Bank purchased a new stake in Alphabet during the 4th quarter valued at $3,059,614,000. 27.17% of the stock is owned by institutional investors.
Alphabet Stock Down 1.0 %
GOOG opened at $122.78 on Thursday. The firm has a 50-day simple moving average of $122.55 and a two-hundred day simple moving average of $107.55. 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 $1.56 trillion, a PE ratio of 27.35, a price-to-earnings-growth ratio of 1.60 and a beta of 1.06. 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 equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Alphabet from $120.00 to $125.00 in a research note on Wednesday, April 26th. Raymond James upped their price objective on Alphabet from $119.00 to $130.00 in a research note on Wednesday, April 26th. Oppenheimer reduced their price objective on Alphabet from $155.00 to $135.00 in a research note on Monday, April 24th. UBS Group upped their price objective on Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. Finally, Robert W. Baird upped their price objective on Alphabet from $120.00 to $123.00 in a research note on Wednesday, April 26th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $130.70.
Insider Buying and Selling at Alphabet
In related news, SVP Prabhakar Raghavan sold 16,083 shares of the stock in a transaction dated Monday, July 3rd. The shares were 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 owns 127,028 shares of the company’s stock, valued at approximately $15,282,738.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Prabhakar Raghavan sold 16,083 shares of the stock in a transaction dated Monday, July 3rd. The shares were 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 owns 127,028 shares of the company’s stock, valued at approximately $15,282,738.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 637 shares of the stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total transaction of $68,483.87. Following the completion of the transaction, the chief accounting officer now directly owns 25,937 shares of the company’s stock, valued at approximately $2,788,486.87. The disclosure for this sale can be found here. Insiders sold 864,122 shares of company stock valued at $29,751,580 in the last 90 days. Insiders own 12.99% of the company’s stock.
Alphabet Company 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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