Scissortail Wealth Management LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 69.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,468 shares of the information services provider’s stock after selling 10,394 shares during the period. Scissortail Wealth Management LLC’s holdings in Alphabet were worth $10,671,723,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Alphabet by 1,919.4% in the third quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock valued at $45,628,484,000 after purchasing an additional 453,413,389 shares during the last quarter. State Street Corp grew its position in shares of Alphabet by 1,900.6% during the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after acquiring an additional 206,300,042 shares during the period. Moneta Group Investment Advisors LLC increased its stake in shares of Alphabet by 111,197.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock valued at $15,036,178,000 after purchasing an additional 170,267,122 shares in the last quarter. Geode Capital Management LLC boosted its position in Alphabet by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 117,077,511 shares of the information services provider’s stock worth $10,310,795,000 after purchasing an additional 1,923,667 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Alphabet by 1,759.2% during the third quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock worth $11,106,502,000 after purchasing an additional 109,870,525 shares in the last quarter. Institutional investors and hedge funds own 35.38% of the company’s stock.
Alphabet Trading Down 0.1 %
Shares of Alphabet stock opened at $131.40 on Wednesday. The company has a 50-day moving average of $123.44 and a two-hundred day moving average of $110.47. The stock has a market cap of $1.66 trillion, a PE ratio of 27.84, a price-to-earnings-growth ratio of 1.52 and a beta of 1.06. The company has a current ratio of 2.17, a quick ratio of 2.14 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $133.74.
Insider Buying and Selling at Alphabet
In other news, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the company’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $12.72, for a total value of $347,128.80. Following the sale, the insider now directly owns 10,958,925 shares in the company, valued at $139,397,526. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphabet news, Director Frances Arnold sold 230 shares of the stock in a transaction on Friday, July 28th. The stock was sold at an average price of $130.95, for a total transaction of $30,118.50. Following the transaction, the director now owns 13,329 shares of the company’s stock, valued at approximately $1,745,432.55. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of Alphabet stock in a transaction on Friday, May 12th. The shares were sold at an average price of $12.72, for a total value of $347,128.80. Following the completion of the sale, the insider now directly owns 10,958,925 shares of the company’s stock, valued at approximately $139,397,526. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 615,832 shares of company stock worth $22,776,264. 0.88% of the stock is owned by insiders.
Analyst Ratings Changes
Several research firms have commented on GOOGL. 888 reiterated a “downgrade” rating on shares of Alphabet in a research note on Monday, June 26th. 51job restated a “downgrade” rating on shares of Alphabet in a research report on Tuesday, June 27th. Wolfe Research upped their target price on Alphabet from $130.00 to $140.00 in a report on Monday, July 10th. Mizuho upped their price objective on shares of Alphabet from $135.00 to $155.00 in a report on Wednesday, July 26th. Finally, The Goldman Sachs Group lifted their target price on Alphabet from $132.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, July 17th. Four equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $142.19.
Get Our Latest Stock Analysis on Alphabet
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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