PFG Investments LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 42,237 shares of the information services provider’s stock, valued at approximately $4,381,000. Alphabet accounts for approximately 0.9% of PFG Investments LLC’s portfolio, making the stock its 13th largest position.
A number of other institutional investors also recently made changes to their positions in GOOGL. Live Oak Investment Partners acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $26,000. Sanctuary Wealth Management L.L.C. acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $34,000. Turim 21 Investimentos Ltda. acquired a new stake in shares of Alphabet in the third quarter valued at approximately $38,000. IAG Wealth Partners LLC raised its position in shares of Alphabet by 100.0% in the first quarter. IAG Wealth Partners LLC now owns 400 shares of the information services provider’s stock valued at $41,000 after buying an additional 200 shares in the last quarter. Finally, AM Squared Ltd acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $44,000. Institutional investors own 35.08% of the company’s stock.
Alphabet Stock Performance
Shares of GOOGL opened at $135.66 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. The stock has a market capitalization of $1.71 trillion, a P/E ratio of 28.74, a price-to-earnings-growth ratio of 1.51 and a beta of 1.06. The firm’s fifty day simple moving average is $126.30 and its two-hundred day simple moving average is $114.63. Alphabet Inc. has a 12 month low of $83.34 and a 12 month high of $138.00.
Insider Transactions at Alphabet
In other 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 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 is available through the SEC website. In related news, 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 value of $1,934,945.73. Following the sale, the senior vice president now owns 127,028 shares in the company, valued at approximately $15,282,738.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 31,240 shares of the company’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $116.82, for a total transaction of $3,649,456.80. Following the completion of the sale, the director now owns 5,364 shares in the company, valued at approximately $626,622.48. The disclosure for this sale can be found here. Insiders have sold 154,043 shares of company stock valued at $7,411,558 in the last 90 days. 0.88% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
GOOGL has been the subject of a number of analyst reports. Truist Financial lifted their price target on shares of Alphabet from $122.00 to $160.00 in a research report on Wednesday, July 26th. Credit Suisse Group boosted their price objective on shares of Alphabet from $135.00 to $150.00 and gave the company an “outperform” rating in a research report on Monday, July 17th. Morgan Stanley boosted their price objective on shares of Alphabet from $150.00 to $155.00 in a research report on Wednesday, July 26th. Barclays boosted their price objective on shares of Alphabet from $160.00 to $200.00 in a research report on Wednesday, July 26th. Finally, Robert W. Baird boosted their price objective on shares of Alphabet from $123.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, July 21st. Four research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.89.
Read Our Latest Stock Report on Alphabet
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.
Featured Articles
- Five stocks we like better than Alphabet
- ETF Screener: Uses and Step-by-Step Guide
- MarketBeat Week in Review – 8/28 – 9/1
- Short Selling: How to Short a Stock
- 2 Stocks That Doubled EPS Estimates and Flashing Buy Signals
- How to Invest in Esports
- Toyota vs Tesla: The Tortoise And The Hare Race Has A New Meaning
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.
