Metis Global Partners LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 36.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 229,189 shares of the information services provider’s stock after buying an additional 61,569 shares during the quarter. Alphabet accounts for 1.5% of Metis Global Partners LLC’s investment portfolio, making the stock its 6th largest holding. Metis Global Partners LLC’s holdings in Alphabet were worth $23,774,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Bornite Capital Management LP purchased a new stake in shares of Alphabet in the first quarter valued at approximately $16,688,000. Markel Corp lifted its holdings in Alphabet by 17.0% in the first 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 during the period. United Bank boosted its position in shares of Alphabet by 5.9% during the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after purchasing an additional 113 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Alphabet by 23.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after purchasing an additional 61,427 shares during the period. Finally, Dakota Wealth Management increased its holdings in shares of 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 purchasing 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 1.2 %
Shares of GOOGL stock opened at $129.78 on Wednesday. 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 fifty-two week low of $83.34 and a fifty-two week high of $133.74. The firm’s 50 day moving average price is $124.11 and its two-hundred day moving average price is $111.84. The stock has a market cap of $1.64 trillion, a price-to-earnings ratio of 27.50, a price-to-earnings-growth ratio of 1.49 and a beta of 1.06.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on the stock. Tigress Financial upped their target price on shares of Alphabet from $160.00 to $172.00 and gave the stock a “strong-buy” rating in a research report on Friday, July 14th. Bank of America upped their price target on Alphabet from $142.00 to $146.00 in a report on Wednesday, July 26th. Credit Suisse Group lifted their price objective on Alphabet from $135.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, July 17th. TD Cowen upped their target price on Alphabet from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, July 13th. Finally, Barclays lifted their price target on Alphabet from $160.00 to $200.00 in a research note on Wednesday, July 26th. Four analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $142.19.
Get Our Latest Research Report on Alphabet
Insiders Place Their Bets
In related news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $131.14, for a total transaction of $26,228.00. Following the completion of the sale, the director now directly owns 5,340 shares of the company’s stock, valued at approximately $700,287.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $131.14, for a total transaction of $26,228.00. Following the completion of the sale, the director now directly owns 5,340 shares in the company, valued at $700,287.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Prabhakar Raghavan sold 16,083 shares of Alphabet stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $120.31, for a total value of $1,934,945.73. Following the sale, the senior vice president now directly owns 127,028 shares in the company, valued at $15,282,738.68. The disclosure for this sale can be found here. Insiders sold a total of 340,790 shares of company stock worth $11,250,754 in the last 90 days. 0.88% of the stock is owned by company insiders.
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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