Sompo Asset Management Co. Ltd. grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 80,610 shares of the information services provider’s stock after acquiring an additional 740 shares during the quarter. Alphabet accounts for approximately 1.8% of Sompo Asset Management Co. Ltd.’s investment portfolio, making the stock its 13th largest position. Sompo Asset Management Co. Ltd.’s holdings in Alphabet were worth $8,362,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the stock. Spreng Capital Management Inc. lifted its stake in shares of Alphabet by 4.0% in the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after purchasing an additional 5 shares during the period. West Family Investments Inc. increased its holdings in Alphabet by 0.3% in the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after buying an additional 6 shares in the last quarter. Maple Capital Management Inc. raised its position in shares of Alphabet by 2.1% in the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock worth $823,000 after acquiring an additional 6 shares during the period. Private Advisory Group LLC boosted its stake in shares of Alphabet by 1.8% during the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock worth $1,115,000 after acquiring an additional 7 shares in the last quarter. Finally, Weik Capital Management grew its position in shares of Alphabet by 0.5% during the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after acquiring an additional 8 shares during the period. 35.38% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Price Performance
Shares of GOOGL opened at $127.46 on Friday. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $133.74. The stock has a market cap of $1.61 trillion, a PE ratio of 27.00, a P/E/G ratio of 1.50 and a beta of 1.06. The firm has a 50-day simple moving average of $124.49 and a two-hundred day simple moving average of $112.39. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.14.
Insider Transactions at Alphabet
In other news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 5,340 shares in the company, valued at $700,287.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, major shareholder 2019 Gp L.L.C. Gv sold 87,922 shares of the company’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $14.13, for a total transaction of $1,242,337.86. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $131.14, for a total value of $26,228.00. Following the sale, the director now directly owns 5,340 shares in the company, valued at approximately $700,287.60. The disclosure for this sale can be found here. Insiders sold a total of 276,778 shares of company stock worth $10,273,372 over the last ninety days. Company insiders own 0.88% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on GOOGL shares. Wells Fargo & Company upped their price target on Alphabet from $116.00 to $121.00 in a report on Wednesday, July 26th. Loop Capital upped their price target on Alphabet from $125.00 to $140.00 and gave the stock a “hold” rating in a report on Friday. 888 reissued a “downgrade” rating on shares of Alphabet in a report on Monday, June 26th. Robert W. Baird boosted their price target on shares of Alphabet from $123.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, July 21st. Finally, Morgan Stanley boosted their price target on shares of Alphabet from $150.00 to $155.00 in a report on Wednesday, July 26th. Four equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $142.61.
View Our Latest Stock Report on GOOGL
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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