Robbins Farley lifted its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 3.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,489 shares of the information services provider’s stock after purchasing an additional 549 shares during the period. Robbins Farley’s holdings in Alphabet were worth $1,918,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in GOOGL. Vanguard Group Inc. increased its position in Alphabet by 1,919.4% during the third quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after buying an additional 453,413,389 shares during the last quarter. State Street Corp grew its position in shares of Alphabet by 1,900.6% in the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after purchasing an additional 206,300,042 shares during the last quarter. Moneta Group Investment Advisors LLC grew its position in shares of Alphabet by 111,197.8% in the fourth 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 during the last quarter. Geode Capital Management LLC grew its position in shares of Alphabet by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 117,077,511 shares of the information services provider’s stock valued at $10,310,795,000 after purchasing an additional 1,923,667 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Alphabet by 1,759.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock valued at $11,106,502,000 after purchasing an additional 109,870,525 shares during the last quarter. 35.38% of the stock is currently owned by institutional investors.
Alphabet Stock Performance
Shares of Alphabet stock opened at $129.66 on Thursday. Alphabet Inc. has a one year low of $83.34 and a one year high of $133.74. The firm has a market capitalization 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 simple moving average of $123.73 and a 200 day simple moving average of $110.84. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.14.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on the company. Royal Bank of Canada upped their target price on Alphabet from $145.00 to $155.00 in a research report on Wednesday, July 26th. Credit Suisse Group boosted their price target on Alphabet from $135.00 to $150.00 and gave the company an “outperform” rating in a research note on Monday, July 17th. Piper Sandler boosted their price target on Alphabet from $140.00 to $148.00 in a research note on Wednesday, July 26th. Barclays boosted their price target on Alphabet from $160.00 to $200.00 in a research note on Wednesday, July 26th. Finally, Mizuho upped their target price on Alphabet from $135.00 to $155.00 in a research note on Wednesday, July 26th. Four investment 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $142.19.
Read Our Latest Research Report on Alphabet
Insider Buying and Selling at Alphabet
In other Alphabet news, Director Frances Arnold sold 230 shares of Alphabet 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 transaction, the director now owns 13,329 shares in the company, valued at approximately $1,745,432.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The stock was 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 in the company, valued at approximately $1,745,432.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ann Mather sold 220 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $121.75, for a total value of $26,785.00. Following the completion of the transaction, the director now owns 4,759 shares in the company, valued at approximately $579,408.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 615,832 shares of company stock worth $22,776,264. 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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