Boston Research & Management Inc. lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 3.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,675 shares of the information services provider’s stock after buying an additional 1,650 shares during the quarter. Alphabet makes up about 1.7% of Boston Research & Management Inc.’s holdings, making the stock its 20th biggest holding. Boston Research & Management Inc.’s holdings in Alphabet were worth $5,671,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. South Dakota Investment Council grew its position in shares of Alphabet by 0.6% in the 1st quarter. South Dakota Investment Council now owns 586,265 shares of the information services provider’s stock worth $60,813,000 after buying an additional 3,300 shares during the period. Bfsg LLC grew its position in Alphabet by 61.3% during the 1st quarter. Bfsg LLC now owns 13,022 shares of the information services provider’s stock valued at $1,351,000 after purchasing an additional 4,947 shares during the last quarter. Mendel Money Management grew its position in Alphabet by 13.2% during the 1st quarter. Mendel Money Management now owns 15,080 shares of the information services provider’s stock valued at $1,564,000 after purchasing an additional 1,755 shares during the last quarter. BIP Wealth LLC purchased a new stake in Alphabet during the 1st quarter valued at about $501,000. Finally, Athena Investment Management grew its position in Alphabet by 2.8% during the 1st quarter. Athena Investment Management now owns 3,906 shares of the information services provider’s stock valued at $405,000 after purchasing an additional 108 shares during the last quarter. 35.38% of the stock is owned by hedge funds and other institutional investors.
Alphabet Trading Up 0.1 %
Alphabet stock opened at $129.88 on Friday. The firm’s 50 day moving average price is $125.09 and its 200-day moving average price is $113.27. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $134.25. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.14. The stock has a market cap of $1.64 trillion, a P/E ratio of 27.52, a PEG ratio of 1.49 and a beta of 1.06.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on GOOGL. Truist Financial raised their price target on shares of Alphabet from $122.00 to $160.00 in a report on Wednesday, July 26th. Piper Sandler raised their price target on shares of Alphabet from $140.00 to $148.00 in a report on Wednesday, July 26th. Jefferies Financial Group raised their price target on shares of Alphabet from $150.00 to $165.00 in a report on Wednesday, July 26th. Bank of America raised their price target on shares of Alphabet from $142.00 to $146.00 in a report on Wednesday, July 26th. Finally, Wolfe Research raised their price target on shares of Alphabet from $130.00 to $140.00 in a report on Monday, July 10th. Four equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $143.08.
View Our Latest Report on GOOGL
Insider Activity at Alphabet
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 value of $26,228.00. Following the completion of the transaction, the director now directly owns 5,340 shares of the company’s stock, valued at $700,287.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 value of $26,228.00. Following the completion of the transaction, the director now directly owns 5,340 shares of the company’s stock, valued at $700,287.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of Alphabet stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $15.06, for a total transaction of $563,319.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 180,006 shares of company stock valued at $8,804,132. 0.88% of the stock is owned by corporate 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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