Belpointe Asset Management LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 112,066 shares of the information services provider’s stock after selling 1,545 shares during the period. Alphabet accounts for about 0.6% of Belpointe Asset Management LLC’s portfolio, making the stock its 20th biggest holding. Belpointe Asset Management LLC’s holdings in Alphabet were worth $11,625,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted 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 worth $45,628,484,000 after acquiring an additional 453,413,389 shares during the period. State Street Corp boosted its stake 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 purchasing an additional 206,300,042 shares during the period. Moneta Group Investment Advisors LLC grew its holdings in Alphabet by 111,197.8% in 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 buying an additional 170,267,122 shares in the last quarter. Geode Capital Management LLC increased its position in Alphabet by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 117,077,511 shares of the information services provider’s stock worth $10,310,795,000 after buying an additional 1,923,667 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Alphabet by 1,759.2% during the third 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 buying an additional 109,870,525 shares in the last quarter. 35.08% of the stock is currently owned by institutional investors.
Alphabet Trading Up 0.4 %
GOOGL opened at $136.92 on Tuesday. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $138.00. The company has a fifty day moving average of $128.28 and a 200-day moving average of $116.56. The stock has a market cap of $1.73 trillion, a PE ratio of 29.01, a price-to-earnings-growth ratio of 1.56 and a beta of 1.06. The company has a quick ratio of 2.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.05.
Insiders Place Their Bets
In related news, major shareholder 2019 Gp L.L.C. Gv sold 28,960 shares of the stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $14.87, for a total transaction of $430,635.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, SVP Prabhakar Raghavan sold 16,083 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the completion of the sale, the senior vice president now owns 127,028 shares in the company, valued at $15,282,738.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 28,960 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $14.87, for a total value of $430,635.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 168,989 shares of company stock worth $13,314,006. 0.88% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
GOOGL has been the topic of a number of recent research reports. Rosenblatt Securities raised their price target on shares of Alphabet from $132.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Robert W. Baird lifted their price target 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. Citigroup increased their price target on Alphabet from $130.00 to $153.00 in a research report on Wednesday, July 26th. Jefferies Financial Group increased their price objective on shares of Alphabet from $150.00 to $165.00 in a research note on Wednesday, July 26th. Finally, Wedbush started coverage on shares of Alphabet in a research report on Monday, August 21st. They issued an “outperform” rating and a $160.00 target price for the company. Four investment 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $143.89.
View Our Latest Analysis on GOOGL
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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