Barnes Pettey Financial Advisors LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 2.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,588 shares of the information services provider’s stock after selling 167 shares during the quarter. Barnes Pettey Financial Advisors LLC’s holdings in Alphabet were worth $580,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Broadleaf Partners LLC raised its position in shares of Alphabet by 24.6% in the 1st quarter. Broadleaf Partners LLC now owns 3,920 shares of the information services provider’s stock worth $407,000 after acquiring an additional 773 shares in the last quarter. Angeles Wealth Management LLC grew its stake in Alphabet by 6.6% in the first quarter. Angeles Wealth Management LLC now owns 13,902 shares of the information services provider’s stock worth $1,442,000 after purchasing an additional 859 shares during the period. Balentine LLC raised its holdings in Alphabet by 10.1% in the first quarter. Balentine LLC now owns 39,225 shares of the information services provider’s stock worth $4,069,000 after purchasing an additional 3,598 shares in the last quarter. Jaffetilchin Investment Partners LLC boosted its holdings in shares of Alphabet by 10.1% during the 1st quarter. Jaffetilchin Investment Partners LLC now owns 77,579 shares of the information services provider’s stock valued at $8,047,000 after buying an additional 7,092 shares in the last quarter. Finally, PFG Investments LLC purchased a new stake in shares of Alphabet in the 1st quarter worth about $4,381,000. 35.08% of the stock is owned by hedge funds and other institutional investors.
Alphabet Trading Down 0.4 %
Shares of Alphabet stock opened at $135.66 on Friday. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $138.00. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.14 and a current ratio of 2.17. The company has a market capitalization of $1.71 trillion, a P/E ratio of 28.74, a P/E/G ratio of 1.51 and a beta of 1.06. The company has a fifty day moving average of $126.30 and a 200 day moving average of $114.63.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on GOOGL. UBS Group cut shares of Alphabet from a “buy” rating to a “neutral” rating and lifted their price target for the company from $123.00 to $132.00 in a research report on Monday, June 26th. Bank of America boosted their price target on Alphabet from $142.00 to $146.00 and gave the stock a “buy” rating in a research report on Wednesday. Wolfe Research raised their price objective on Alphabet from $130.00 to $140.00 in a research report on Monday, July 10th. Needham & Company LLC reissued a “buy” rating and issued a $140.00 target price on shares of Alphabet in a report on Friday, August 11th. Finally, Evercore ISI increased their target price on Alphabet from $130.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 26th. Four research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.89.
Get Our Latest Stock Analysis on Alphabet
Insider Activity
In related news, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of the company’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $15.06, for a total transaction of $563,319.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of the stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $15.06, for a total transaction of $563,319.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ann Mather sold 380 shares of Alphabet stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $121.42, for a total value 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. Insiders have sold a total of 154,043 shares of company stock worth $7,411,558 over the last quarter. 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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