Ninety One North America Inc. lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 299,886 shares of the information services provider’s stock after purchasing an additional 2,796 shares during the quarter. Alphabet accounts for approximately 1.4% of Ninety One North America Inc.’s portfolio, making the stock its 23rd largest holding. Ninety One North America Inc.’s holdings in Alphabet were worth $31,107,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DC Investments Management LLC purchased a new position in shares of Alphabet during the 1st quarter worth $114,000. Bridgefront Capital LLC acquired a new stake in shares of Alphabet during the 1st quarter worth about $225,000. Worth Asset Management LLC acquired a new stake in shares of Alphabet during the 1st quarter worth about $206,000. Eudaimonia Advisors LLC increased its position in shares of Alphabet by 15.1% during the 1st quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after purchasing an additional 13 shares during the last quarter. Finally, Aspire Capital Advisors LLC acquired a new stake in shares of Alphabet during the 1st quarter worth about $281,000. Hedge funds and other institutional investors own 35.38% of the company’s stock.
Alphabet Price Performance
Shares of NASDAQ GOOGL opened at $121.53 on Tuesday. The stock has a market cap of $1.54 trillion, a P/E ratio of 27.07, a P/E/G ratio of 1.53 and a beta of 1.06. The company has a current ratio of 2.35, a quick ratio of 2.32 and a debt-to-equity ratio of 0.05. The stock has a 50 day moving average of $122.10 and a two-hundred day moving average of $107.74. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $129.04.
Wall Street Analyst Weigh In
GOOGL has been the subject of a number of recent analyst reports. Citigroup raised their price objective on Alphabet from $120.00 to $130.00 in a research report on Wednesday, April 26th. UBS Group downgraded Alphabet from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $123.00 to $132.00 in a research report on Monday, June 26th. Truist Financial lifted their target price on Alphabet from $120.00 to $122.00 and gave the company a “buy” rating in a research report on Wednesday, April 26th. Wells Fargo & Company initiated coverage on Alphabet in a research report on Wednesday, June 7th. They issued an “equal weight” rating and a $117.00 target price for the company. Finally, Oppenheimer lifted their target price on Alphabet from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Wednesday, April 26th. Six research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.21.
Insider Activity
In other news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 5,740 shares of the company’s stock, valued at $721,231. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, SVP Prabhakar Raghavan sold 16,083 shares of the company’s stock in a transaction on 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 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 John L. Hennessy sold 200 shares of the company’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 transaction, the director now directly owns 5,740 shares in the company, valued at approximately $721,231. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 841,688 shares of company stock valued at $29,376,932. Company insiders own 0.88% of the company’s stock.
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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