Ellevest Inc. grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 23.4% during the first quarter, according to its most recent filing with the SEC. The firm owned 27,968 shares of the information services provider’s stock after acquiring an additional 5,312 shares during the period. Ellevest Inc.’s holdings in Alphabet were worth $2,901,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bornite Capital Management LP bought a new position in Alphabet in the 1st quarter valued at approximately $16,688,000. Markel Corp lifted its position in Alphabet by 17.0% in the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after acquiring an additional 2,250 shares in the last quarter. United Bank lifted its position in Alphabet by 5.9% in the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after acquiring an additional 113 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Alphabet by 23.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after acquiring an additional 61,427 shares in the last quarter. Finally, Dakota Wealth Management lifted its position in Alphabet by 20.4% in the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after acquiring an additional 1,570 shares in the last quarter. Hedge funds and other institutional investors own 35.38% of the company’s stock.
Alphabet Trading Down 1.3 %
Shares of Alphabet stock opened at $129.66 on Thursday. The firm has a market cap of $1.63 trillion, a price-to-earnings ratio of 27.47, a PEG ratio of 1.52 and a beta of 1.06. The business has a 50-day moving average price of $123.73 and a 200-day moving average price of $110.84. The company has a quick ratio of 2.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $133.74.
Analysts Set New Price Targets
Several equities analysts recently issued reports on GOOGL shares. Bank of America upped their price objective on Alphabet from $142.00 to $146.00 in a research report on Wednesday, July 26th. Robert W. Baird increased their price target on Alphabet from $123.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, July 21st. JMP Securities increased their price target on Alphabet from $132.00 to $138.00 and gave the company a “market outperform” rating in a report on Wednesday, July 26th. Truist Financial increased their price target on Alphabet from $122.00 to $160.00 in a report on Wednesday, July 26th. Finally, Stifel Nicolaus increased their price target on Alphabet from $130.00 to $135.00 and gave the company a “buy” rating in a report on Friday, July 21st. Four research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $142.19.
Get Our Latest Stock Report on GOOGL
Insider Activity at Alphabet
In related news, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the stock in a transaction dated 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 transaction, the insider now owns 10,958,925 shares of the company’s stock, valued at approximately $139,397,526. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the firm’s stock in a transaction dated 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 owns 10,958,925 shares of the company’s stock, valued at $139,397,526. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $130.95, for a total transaction of $30,118.50. Following the completion of the sale, the director now directly owns 13,329 shares of the company’s stock, valued at approximately $1,745,432.55. The disclosure for this sale can be found here. In the last quarter, insiders sold 615,832 shares of company stock valued at $22,776,264. Insiders own 0.88% 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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