Connectus Wealth LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 2.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 717,149 shares of the information services provider’s stock after buying an additional 16,680 shares during the period. Alphabet makes up 1.8% of Connectus Wealth LLC’s portfolio, making the stock its 10th largest holding. Connectus Wealth LLC’s holdings in Alphabet were worth $74,390,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Live Oak Investment Partners bought a new stake in shares of Alphabet in the 4th quarter worth about $26,000. Sanctuary Wealth Management L.L.C. bought a new stake in shares of Alphabet in the 4th quarter worth about $34,000. Turim 21 Investimentos Ltda. bought a new stake in shares of Alphabet in the 3rd quarter worth about $38,000. IAG Wealth Partners LLC lifted its holdings in shares of Alphabet by 100.0% in the 1st quarter. IAG Wealth Partners LLC now owns 400 shares of the information services provider’s stock worth $41,000 after acquiring an additional 200 shares during the last quarter. Finally, AM Squared Ltd bought a new stake in shares of Alphabet in the 4th quarter worth about $44,000. 35.08% of the stock is owned by hedge funds and other institutional investors.
Alphabet Stock Performance
Shares of NASDAQ GOOGL opened at $136.17 on Friday. The company has a current ratio of 2.17, a quick ratio of 2.14 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $138.00. The company has a 50 day simple moving average of $126.03 and a two-hundred day simple moving average of $114.21. The stock has a market cap of $1.72 trillion, a price-to-earnings ratio of 28.85, a PEG ratio of 1.51 and a beta of 1.06.
Analysts Set New Price Targets
Several research firms have recently issued reports on GOOGL. JPMorgan Chase & Co. raised their target price on shares of Alphabet from $121.00 to $150.00 in a report on Wednesday, July 26th. Barclays raised their target price on shares of Alphabet from $160.00 to $200.00 in a report on Wednesday, July 26th. Rosenblatt Securities lifted their price objective on shares of Alphabet from $132.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday, July 26th. Stifel Nicolaus lifted their price objective on shares of Alphabet from $130.00 to $135.00 and gave the company a “buy” rating in a report on Friday, July 21st. Finally, JMP Securities reiterated a “market outperform” rating and set a $138.00 price objective on shares of Alphabet in a report on Wednesday. Four research analysts have rated the stock with a hold rating, thirty-one 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.89.
Read Our Latest Report on Alphabet
Insider Activity at Alphabet
In related news, Director John L. Hennessy sold 200 shares of the business’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 in the company, valued at approximately $700,287.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director John L. Hennessy sold 200 shares of the business’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 in the company, valued at approximately $700,287.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder 2019 Gp L.L.C. Gv sold 16,031 shares of the business’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $14.98, for a total transaction of $240,144.38. The disclosure for this sale can be found here. Insiders sold a total of 153,813 shares of company stock worth $7,380,379 in the last three months. Company insiders own 0.88% of the company’s stock.
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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