Icon Wealth Partners LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 29,971 shares of the information services provider’s stock, valued at approximately $3,109,000.
Other large investors have also modified their holdings of the company. Scotia Capital Inc. grew its position in Alphabet by 3.7% in the first quarter. Scotia Capital Inc. now owns 1,785,900 shares of the information services provider’s stock valued at $185,263,000 after acquiring an additional 64,005 shares during the period. Kidder Stephen W grew its position in Alphabet by 0.9% in the first quarter. Kidder Stephen W now owns 104,125 shares of the information services provider’s stock valued at $10,801,000 after acquiring an additional 920 shares during the period. Van Strum & Towne Inc. grew its position in Alphabet by 0.9% in the first quarter. Van Strum & Towne Inc. now owns 60,765 shares of the information services provider’s stock valued at $6,303,000 after acquiring an additional 530 shares during the period. Wealth Alliance grew its position in Alphabet by 0.4% in the first quarter. Wealth Alliance now owns 39,511 shares of the information services provider’s stock valued at $4,098,000 after acquiring an additional 174 shares during the period. Finally, Dempze Nancy E grew its position in Alphabet by 2.0% in the first quarter. Dempze Nancy E now owns 33,951 shares of the information services provider’s stock valued at $3,522,000 after acquiring an additional 674 shares during the period. 35.08% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Trading Up 1.0 %
NASDAQ GOOGL opened at $135.88 on Thursday. The firm has a market cap of $1.71 trillion, a P/E ratio of 28.79, a P/E/G ratio of 1.51 and a beta of 1.06. 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’s 50-day moving average is $125.77 and its 200-day moving average is $114.05. Alphabet Inc. has a one year low of $83.34 and a one year high of $136.57.
Wall Street Analyst Weigh In
GOOGL has been the topic of a number of analyst reports. Bank of America upped their price target on Alphabet from $142.00 to $146.00 in a research report on Wednesday. JPMorgan Chase & Co. increased their target price on Alphabet from $121.00 to $150.00 in a report on Wednesday, July 26th. Royal Bank of Canada increased their target price on Alphabet from $145.00 to $155.00 in a report on Wednesday, July 26th. Robert W. Baird increased their target price on Alphabet from $123.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, July 21st. Finally, Mizuho increased their target price on Alphabet from $135.00 to $155.00 in a report on Wednesday, July 26th. Four investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $143.08.
View Our Latest Stock Analysis on GOOGL
Insider Buying and Selling
In related news, SVP Prabhakar Raghavan sold 16,083 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the completion of 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 filing with the SEC, which can be accessed through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the firm’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 completion of 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 filing with the SEC, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 31,240 shares of the firm’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $116.82, for a total value of $3,649,456.80. Following the completion of the transaction, the director now owns 5,364 shares of the company’s stock, valued at $626,622.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 163,353 shares of company stock worth $8,576,028. 0.88% of the stock is owned by corporate insiders.
Alphabet Company 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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