GW&K Investment Management LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 298,960 shares of the information services provider’s stock after selling 1,459 shares during the quarter. GW&K Investment Management LLC’s holdings in Alphabet were worth $31,011,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also added to or reduced their stakes in GOOGL. Bornite Capital Management LP purchased a new position in shares of Alphabet in the first quarter valued at $16,688,000. Markel Corp grew its holdings in shares of 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 purchasing an additional 2,250 shares in the last quarter. United Bank grew its holdings in shares of Alphabet by 5.9% in the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after purchasing an additional 113 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Alphabet by 23.4% in the first 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 purchasing an additional 61,427 shares in the last quarter. Finally, Dakota Wealth Management lifted its position in Alphabet by 20.4% in the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after buying an additional 1,570 shares during the last quarter. 35.38% of the stock is owned by hedge funds and other institutional investors.
Alphabet Stock Performance
GOOGL opened at $127.46 on Monday. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $133.74. 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 company has a market cap of $1.61 trillion, a P/E ratio of 27.00, a price-to-earnings-growth ratio of 1.47 and a beta of 1.06. The firm’s 50-day moving average price is $124.49 and its 200-day moving average price is $112.47.
Insider Activity
In other 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 transaction of $1,934,945.73. Following the transaction, the senior vice president now owns 127,028 shares in the company, valued at $15,282,738.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, SVP Prabhakar Raghavan sold 16,083 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president now owns 127,028 shares in the company, valued at approximately $15,282,738.68. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 7,900 shares of the stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $13.66, for a total transaction of $107,914.00. The disclosure for this sale can be found here. Insiders have sold a total of 188,856 shares of company stock worth $9,031,034 over the last 90 days. 0.88% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
GOOGL has been the subject of a number of analyst reports. Tigress Financial raised their price target on Alphabet from $160.00 to $172.00 and gave the stock a “strong-buy” rating in a research report on Friday, July 14th. Piper Sandler raised their price target on Alphabet from $140.00 to $148.00 in a research report on Wednesday, July 26th. Barclays raised their price target on Alphabet from $160.00 to $200.00 in a research report on Wednesday, July 26th. Robert W. Baird raised their price target on Alphabet from $123.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, July 21st. Finally, UBS Group downgraded Alphabet from a “buy” rating to a “neutral” rating and raised their price target for the stock from $123.00 to $132.00 in a research report on Monday, June 26th. Four equities research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.61.
Check Out Our Latest Stock Analysis on GOOGL
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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