Jaffetilchin Investment Partners LLC increased its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 10.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,579 shares of the information services provider’s stock after purchasing an additional 7,092 shares during the period. Alphabet accounts for about 0.9% of Jaffetilchin Investment Partners LLC’s portfolio, making the stock its 25th largest position. Jaffetilchin Investment Partners LLC’s holdings in Alphabet were worth $8,047,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the stock. Modera Wealth Management LLC increased its stake in shares of Alphabet by 11.4% in the first quarter. Modera Wealth Management LLC now owns 43,230 shares of the information services provider’s stock worth $4,484,000 after acquiring an additional 4,420 shares during the period. FourThought Financial Partners LLC acquired a new stake in shares of Alphabet in the fourth quarter worth $5,415,000. Atria Investments Inc increased its stake in shares of Alphabet by 7.4% in the first quarter. Atria Investments Inc now owns 316,800 shares of the information services provider’s stock worth $32,918,000 after acquiring an additional 21,907 shares during the period. Glenview Trust Co boosted its holdings in Alphabet by 10.7% during the fourth quarter. Glenview Trust Co now owns 458,830 shares of the information services provider’s stock worth $40,483,000 after buying an additional 44,278 shares in the last quarter. Finally, Hallmark Capital Management Inc. boosted its holdings in Alphabet by 8.9% during the first quarter. Hallmark Capital Management Inc. now owns 167,148 shares of the information services provider’s stock worth $17,338,000 after buying an additional 13,605 shares in the last quarter. 35.08% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Price Performance
Alphabet stock opened at $135.66 on Friday. The company’s 50 day simple moving average is $126.30 and its 200-day simple moving average is $114.63. The company has a market capitalization of $1.71 trillion, a price-to-earnings ratio of 28.74, a price-to-earnings-growth ratio of 1.51 and a beta of 1.06. Alphabet Inc. has a 1 year low of $83.34 and a 1 year 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.
Analyst Ratings Changes
A number of brokerages recently issued reports on GOOGL. Morgan Stanley increased their price target on shares of Alphabet from $150.00 to $155.00 in a report on Wednesday, July 26th. KeyCorp increased their price target on shares of Alphabet from $140.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, July 26th. Barclays increased their price target on shares of Alphabet from $160.00 to $200.00 in a report on Wednesday, July 26th. Credit Suisse Group increased their price objective on shares of Alphabet from $135.00 to $150.00 and gave the company an “outperform” rating in a report on Monday, July 17th. Finally, Tigress Financial lifted their target price on shares of Alphabet from $160.00 to $172.00 and gave the company a “strong-buy” rating in a research report on Friday, July 14th. Four investment analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $143.89.
View Our Latest Report on GOOGL
Insider Activity
In related news, SVP Prabhakar Raghavan sold 16,083 shares of Alphabet stock in a transaction that occurred on Monday, July 3rd. The shares were 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 owns 127,028 shares in the company, valued at $15,282,738.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Prabhakar Raghavan sold 16,083 shares of Alphabet stock in a transaction that occurred on Monday, July 3rd. The shares were 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 owns 127,028 shares in the company, valued at $15,282,738.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 31,240 shares of Alphabet stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $116.82, for a total transaction 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 approximately $626,622.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 154,043 shares of company stock valued at $7,411,558. Company insiders own 0.88% of the company’s stock.
Alphabet 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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