Blue Investment Partners LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 63.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,000 shares of the information services provider’s stock after selling 3,491 shares during the quarter. Alphabet makes up approximately 0.2% of Blue Investment Partners LLC’s holdings, making the stock its 28th largest position. Blue Investment Partners LLC’s holdings in Alphabet were worth $207,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in GOOGL. Vanguard Group Inc. raised its holdings in shares of Alphabet by 1,919.4% during the third quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock valued at $45,628,484,000 after buying an additional 453,413,389 shares during the last quarter. State Street Corp increased its position in Alphabet by 1,900.6% in the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after acquiring an additional 206,300,042 shares during the period. Moneta Group Investment Advisors LLC raised its stake in Alphabet by 111,197.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock valued at $15,036,178,000 after acquiring an additional 170,267,122 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Alphabet by 1,759.2% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock worth $11,106,502,000 after acquiring an additional 109,870,525 shares during the period. Finally, Norges Bank bought a new position in shares of Alphabet in the fourth quarter worth $8,335,063,000. 35.08% of the stock is currently owned by institutional investors.
Alphabet Price Performance
Shares of NASDAQ:GOOGL opened at $136.92 on Tuesday. The business has a fifty day simple moving average of $128.28 and a 200 day simple moving average of $116.56. 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 1 year low of $83.34 and a 1 year high of $138.00. The firm has a market cap of $1.73 trillion, a price-to-earnings ratio of 29.01, a P/E/G ratio of 1.56 and a beta of 1.06.
Insiders Place Their Bets
In related news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $137.30, for a total value of $27,460.00. Following the transaction, the director now directly owns 7,584 shares of the company’s stock, valued at approximately $1,041,283.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, major shareholder 2019 Gp L.L.C. Gv sold 28,960 shares of the stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $14.87, for a total transaction of $430,635.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $137.30, for a total value of $27,460.00. Following the completion of the transaction, the director now directly owns 7,584 shares in the company, valued at $1,041,283.20. The disclosure for this sale can be found here. Insiders have sold 168,989 shares of company stock valued at $13,314,006 over the last three months. 0.88% of the stock is currently owned by insiders.
Analyst Ratings Changes
Several equities research analysts recently weighed in on the stock. Tigress Financial upped their price objective on shares of Alphabet from $160.00 to $172.00 and gave the stock a “strong-buy” rating in a report on Friday, July 14th. UBS Group cut shares of Alphabet from a “buy” rating to a “neutral” rating and increased their price objective for the company from $123.00 to $132.00 in a report on Monday, June 26th. Needham & Company LLC reissued a “buy” rating and set a $140.00 target price on shares of Alphabet in a report on Friday, August 11th. StockNews.com began coverage on Alphabet in a research note on Thursday, August 17th. They set a “buy” rating for the company. Finally, Barclays lifted their price target on Alphabet from $160.00 to $200.00 in a research report on Wednesday, July 26th. Four equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $143.89.
Read Our Latest Research Report on GOOGL
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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