Oarsman Capital Inc. increased its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 9.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,788 shares of the information services provider’s stock after acquiring an additional 1,525 shares during the period. Oarsman Capital Inc.’s holdings in Alphabet were worth $1,845,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Modera Wealth Management LLC raised its stake in Alphabet by 11.4% during the 1st quarter. Modera Wealth Management LLC now owns 43,230 shares of the information services provider’s stock valued at $4,484,000 after buying an additional 4,420 shares during the last quarter. FourThought Financial Partners LLC purchased a new stake in Alphabet during the 4th quarter valued at $5,415,000. Atria Investments Inc raised its stake in Alphabet by 7.4% during the 1st quarter. Atria Investments Inc now owns 316,800 shares of the information services provider’s stock valued at $32,918,000 after buying an additional 21,907 shares during the last quarter. Glenview Trust Co raised its stake in Alphabet by 10.7% during the 4th quarter. Glenview Trust Co now owns 458,830 shares of the information services provider’s stock valued at $40,483,000 after buying an additional 44,278 shares during the last quarter. Finally, Hallmark Capital Management Inc. raised its stake in Alphabet by 8.9% during the 1st quarter. Hallmark Capital Management Inc. now owns 167,148 shares of the information services provider’s stock valued at $17,338,000 after buying an additional 13,605 shares during the last quarter. 35.08% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet Stock Up 0.2 %
Shares of NASDAQ GOOGL opened at $136.17 on Friday. The firm’s 50-day moving average price is $126.03 and its 200-day moving average price is $114.21. The company has a current ratio of 2.17, a quick ratio of 2.14 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $1.72 trillion, a price-to-earnings ratio of 28.85, a P/E/G ratio of 1.51 and a beta of 1.06. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $138.00.
Insider Activity
In related news, major shareholder 2019 Gp L.L.C. Gv sold 15,672 shares of the stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $14.48, for a total value of $226,930.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, major shareholder 2019 Gp L.L.C. Gv sold 15,672 shares of the stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $14.48, for a total value of $226,930.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ann Mather sold 380 shares of the stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $121.42, for a total transaction of $46,139.60. Following the completion of the sale, the director now directly owns 4,700 shares in the company, valued at $570,674. The disclosure for this sale can be found here. In the last three months, insiders have sold 153,813 shares of company stock worth $7,380,379. 0.88% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on GOOGL. 888 reissued a “downgrade” rating on shares of Alphabet in a research report on Monday, June 26th. Rosenblatt Securities boosted their price objective on shares of Alphabet from $132.00 to $163.00 and gave the company a “buy” rating in a research report on Wednesday, July 26th. Truist Financial boosted their price objective on shares of Alphabet from $122.00 to $160.00 in a research report on Wednesday, July 26th. Mizuho boosted their price objective on shares of Alphabet from $135.00 to $155.00 in a research report on Wednesday, July 26th. Finally, UBS Group downgraded shares of Alphabet from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $123.00 to $132.00 in a research report on Monday, June 26th. Four investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.89.
Read Our Latest Stock Analysis 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.
Further Reading
- Five stocks we like better than Alphabet
- How to Invest in Esports
- 3 Takeaways from the August Inflation Report
- How to Use the MarketBeat Dividend Calculator
- On Fire: 5 Best Artificial Intelligence Penny Stocks
- What Is WallStreetBets and What Stocks Are They Targeting?
- 6 Cybersecurity Stocks: Which is the Best to Buy?
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL – Free Report).
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.
