Morling Financial Advisors LLC grew its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 62.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 847 shares of the information services provider’s stock after purchasing an additional 327 shares during the quarter. Morling Financial Advisors LLC’s holdings in Alphabet were worth $88,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the company. One Day In July LLC increased its stake in Alphabet by 18.1% during the first quarter. One Day In July LLC now owns 3,127 shares of the information services provider’s stock valued at $324,000 after acquiring an additional 480 shares during the period. Boit C F David lifted its stake in Alphabet by 0.3% during the first quarter. Boit C F David now owns 30,722 shares of the information services provider’s stock worth $3,201,000 after purchasing an additional 100 shares during the period. Jackson Grant Investment Advisers Inc. lifted its position in shares of Alphabet by 3.5% during the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 4,306 shares of the information services provider’s stock worth $447,000 after buying an additional 146 shares during the period. V Wealth Advisors LLC grew its position in Alphabet by 2.1% in the first quarter. V Wealth Advisors LLC now owns 47,137 shares of the information services provider’s stock valued at $4,890,000 after acquiring an additional 955 shares during the period. Finally, Curran Financial Partners LLC acquired a new position in Alphabet during the first quarter worth $453,000. 35.38% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Price Performance
GOOGL stock opened at $132.72 on Tuesday. The firm has a 50 day moving average of $122.81 and a 200-day moving average of $109.15. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $133.74. The company has a current ratio of 2.17, a quick ratio of 2.14 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $1.69 trillion, a P/E ratio of 28.12, a price-to-earnings-growth ratio of 1.59 and a beta of 1.06.
Insider Activity at Alphabet
In other news, major shareholder 2021 Gp L.L.C. Gv purchased 309,931 shares of the company’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were bought at an average price of $28.34 per share, for a total transaction of $8,783,444.54. Following the purchase, the insider now directly owns 2,243,665 shares in the company, valued at approximately $63,585,466.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder 2021 Gp L.L.C. Gv bought 309,931 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were bought at an average cost of $28.34 per share, with a total value of $8,783,444.54. Following the acquisition, the insider now owns 2,243,665 shares in the company, valued at $63,585,466.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frances Arnold sold 230 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $130.95, for a total value of $30,118.50. Following the transaction, the director now owns 13,329 shares of the company’s stock, valued at $1,745,432.55. The disclosure for this sale can be found here. Insiders have sold a total of 841,501 shares of company stock worth $29,365,352 in the last 90 days. Company insiders own 0.88% of the company’s stock.
Wall Street Analyst Weigh In
GOOGL has been the subject of several research analyst reports. Needham & Company LLC boosted their price objective on shares of Alphabet from $115.00 to $140.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Tigress Financial boosted their target price on shares of Alphabet from $160.00 to $172.00 and gave the company a “strong-buy” rating in a research report on Friday, July 14th. Truist Financial raised their price target on shares of Alphabet from $122.00 to $160.00 in a research report on Wednesday, July 26th. Morgan Stanley lifted their price objective on shares of Alphabet from $150.00 to $155.00 in a research note on Wednesday, July 26th. Finally, Loop Capital downgraded Alphabet from a “buy” rating to a “hold” rating and set a $125.00 price objective for the company. in a research note on Monday, May 15th. Four equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $142.19.
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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