Industrial Alliance Investment Management Inc. trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 29.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 792,562 shares of the information services provider’s stock after selling 327,831 shares during the quarter. Alphabet makes up approximately 2.3% of Industrial Alliance Investment Management Inc.’s holdings, making the stock its 5th largest position. Industrial Alliance Investment Management Inc.’s holdings in Alphabet were worth $82,212,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Modera Wealth Management LLC boosted its position in shares of Alphabet by 11.4% in the 1st quarter. Modera Wealth Management LLC now owns 43,230 shares of the information services provider’s stock worth $4,484,000 after purchasing an additional 4,420 shares in the last quarter. FourThought Financial Partners LLC bought a new stake in shares of Alphabet in the 4th quarter worth approximately $5,415,000. Atria Investments Inc boosted its position in shares of Alphabet by 7.4% in the 1st quarter. Atria Investments Inc now owns 316,800 shares of the information services provider’s stock worth $32,918,000 after purchasing an additional 21,907 shares in the last quarter. Glenview Trust Co boosted its position in shares of Alphabet by 10.7% in the 4th quarter. Glenview Trust Co now owns 458,830 shares of the information services provider’s stock worth $40,483,000 after purchasing an additional 44,278 shares in the last quarter. Finally, Hallmark Capital Management Inc. boosted its position in shares of Alphabet by 8.9% in the 1st quarter. Hallmark Capital Management Inc. now owns 167,148 shares of the information services provider’s stock worth $17,338,000 after purchasing an additional 13,605 shares in the last quarter. 35.08% of the stock is owned by institutional investors.
Alphabet Stock Up 0.2 %
GOOGL opened at $136.17 on Friday. The firm has a 50-day simple moving average of $126.03 and a two-hundred day simple moving average of $114.21. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $138.00. The company has a market capitalization of $1.72 trillion, a PE ratio of 28.85, a price-to-earnings-growth ratio of 1.51 and a beta of 1.06. The company has a quick ratio of 2.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.05.
Analyst Ratings Changes
A number of brokerages recently weighed in on GOOGL. StockNews.com began coverage on shares of Alphabet in a report on Thursday, August 17th. They issued a “buy” rating for the company. Evercore ISI boosted their price objective on shares of Alphabet from $130.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, July 26th. Needham & Company LLC restated a “buy” rating and issued a $140.00 price objective on shares of Alphabet in a report on Friday, August 11th. 51job restated a “downgrade” rating on shares of Alphabet in a report on Tuesday, June 27th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Alphabet from $121.00 to $150.00 in a report on Wednesday, July 26th. Four equities research 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.89.
Get Our Latest Research Report on GOOGL
Insider Buying and Selling at Alphabet
In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the 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 completion of the transaction, the senior vice president now owns 127,028 shares of the company’s stock, valued at approximately $15,282,738.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder 2019 Gp L.L.C. Gv sold 15,672 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $14.48, for a total transaction of $226,930.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 sale, the senior vice president now owns 127,028 shares in the company, valued at $15,282,738.68. The disclosure for this sale can be found here. Insiders sold 153,813 shares of company stock valued at $7,380,379 in the last 90 days. Insiders own 0.88% of the company’s stock.
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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