Quantinno Capital Management LP boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 13.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 175,060 shares of the information services provider’s stock after purchasing an additional 20,201 shares during the quarter. Alphabet comprises approximately 1.2% of Quantinno Capital Management LP’s holdings, making the stock its 6th largest position. Quantinno Capital Management LP’s holdings in Alphabet were worth $18,159,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the business. Crescent Grove Advisors LLC lifted its position in shares of Alphabet by 24.3% in the 1st quarter. Crescent Grove Advisors LLC now owns 9,351 shares of the information services provider’s stock worth $970,000 after acquiring an additional 1,830 shares during the period. Hallmark Capital Management Inc. lifted its position in shares of Alphabet by 8.9% in the 1st quarter. Hallmark Capital Management Inc. now owns 167,148 shares of the information services provider’s stock worth $17,338,000 after acquiring an additional 13,605 shares during the period. LeJeune Puetz Investment Counsel LLC lifted its position in shares of Alphabet by 1.8% in the 1st quarter. LeJeune Puetz Investment Counsel LLC now owns 25,550 shares of the information services provider’s stock worth $2,650,000 after acquiring an additional 450 shares during the period. Aspire Private Capital LLC lifted its position in shares of Alphabet by 26.4% in the 1st quarter. Aspire Private Capital LLC now owns 15,038 shares of the information services provider’s stock worth $1,560,000 after acquiring an additional 3,145 shares during the period. Finally, Tobam lifted its position in shares of Alphabet by 32.6% in the 1st quarter. Tobam now owns 12,469 shares of the information services provider’s stock worth $1,293,000 after acquiring an additional 3,066 shares during the period. Institutional investors own 35.38% of the company’s stock.
Alphabet Stock Performance
GOOGL stock opened at $128.38 on Thursday. The business’s 50-day moving average price is $123.14 and its two-hundred day moving average price is $109.56. 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 cap of $1.63 trillion, a PE ratio of 27.20, a P/E/G ratio of 1.58 and a beta of 1.06. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $133.74.
Analyst Ratings Changes
A number of brokerages have commented on GOOGL. Rosenblatt Securities raised their price objective on Alphabet from $132.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Robert W. Baird raised their price objective on Alphabet from $123.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, July 21st. Bank of America increased their target price on Alphabet from $142.00 to $146.00 in a report on Wednesday, July 26th. StockNews.com began coverage on Alphabet in a report on Thursday, May 18th. They issued a “buy” rating for the company. Finally, Mizuho increased their target price on Alphabet from $135.00 to $155.00 in a report on Wednesday, July 26th. Four analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $142.19.
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Insiders Place Their Bets
In other news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $130.95, for a total value of $30,118.50. Following the sale, the director now directly owns 13,329 shares in the company, valued at $1,745,432.55. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Kavitark Ram Shriram sold 37,500 shares of the business’s stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $105.04, for a total value of $3,939,000.00. Following the sale, the director now directly owns 107,240 shares in the company, valued at $11,264,489.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Frances Arnold sold 230 shares of the business’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $130.95, for a total value of $30,118.50. Following the completion of the sale, the director now owns 13,329 shares in the company, valued at $1,745,432.55. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 841,501 shares of company stock worth $29,365,352. Corporate 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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