Avidian Wealth Solutions LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 2.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 64,563 shares of the information services provider’s stock after buying an additional 1,486 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in Alphabet were worth $6,697,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Spreng Capital Management Inc. grew its position in shares of Alphabet by 4.0% during the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock worth $364,000 after buying an additional 5 shares in the last quarter. West Family Investments Inc. grew its holdings in Alphabet by 0.3% during the 1st quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock worth $4,878,000 after acquiring an additional 6 shares in the last quarter. Maple Capital Management Inc. increased its position in Alphabet by 2.1% during the 1st quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock valued at $823,000 after purchasing an additional 6 shares during the period. Private Advisory Group LLC raised its holdings in shares of Alphabet by 1.8% in the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock valued at $1,115,000 after purchasing an additional 7 shares in the last quarter. Finally, Weik Capital Management lifted its position in shares of Alphabet by 0.5% in the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock worth $4,264,000 after purchasing an additional 8 shares during the period. Hedge funds and other institutional investors own 35.38% of the company’s stock.
Alphabet Price Performance
Shares of NASDAQ GOOGL opened at $129.92 on Friday. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $133.74. The stock has a market capitalization of $1.64 trillion, a price-to-earnings ratio of 27.53, a price-to-earnings-growth ratio of 1.49 and a beta of 1.06. The company has a quick ratio of 2.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.05. The firm has a 50-day simple moving average of $124.39 and a 200-day simple moving average of $112.08.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on GOOGL. TD Cowen boosted their price objective on shares of Alphabet from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, July 13th. Mizuho upped their price objective on Alphabet from $135.00 to $155.00 in a research note on Wednesday, July 26th. Wolfe Research lifted their target price on Alphabet from $130.00 to $140.00 in a research note on Monday, July 10th. Piper Sandler increased their price target on shares of Alphabet from $140.00 to $148.00 in a research report on Wednesday, July 26th. Finally, Barclays lifted their price objective on shares of Alphabet from $160.00 to $200.00 in a research report on Wednesday, July 26th. Four equities research 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 company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.19.
View Our Latest Stock Analysis on GOOGL
Insiders Place Their Bets
In related news, SVP Prabhakar Raghavan sold 16,083 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $120.31, for a total value of $1,934,945.73. Following the completion of the sale, the senior vice president now owns 127,028 shares of the company’s stock, valued at $15,282,738.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Prabhakar Raghavan sold 16,083 shares of the company’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 127,028 shares in the company, valued at $15,282,738.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 7,900 shares of the firm’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $13.66, for a total value of $107,914.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 276,778 shares of company stock valued at $10,273,372. Insiders own 0.88% of the company’s stock.
Alphabet 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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