Cadent Capital Advisors LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 3.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 4,158 shares of the information services provider’s stock after acquiring an additional 136 shares during the period. Cadent Capital Advisors LLC’s holdings in Alphabet were worth $498,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GOOGL. Vanguard Group Inc. raised its stake in Alphabet by 1,919.4% in the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock valued at $45,628,484,000 after acquiring an additional 453,413,389 shares during the period. State Street Corp raised 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 acquiring an additional 206,300,042 shares during the period. Moneta Group Investment Advisors LLC raised its stake 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 acquiring an additional 170,267,122 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Alphabet by 1,759.2% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock valued at $11,106,502,000 after acquiring an additional 109,870,525 shares during the period. Finally, Norges Bank bought a new stake in shares of Alphabet during the fourth quarter valued at about $8,335,063,000. 35.08% of the stock is currently owned by institutional investors.
Alphabet Stock Performance
NASDAQ:GOOGL opened at $130.86 on Friday. The firm has a market cap of $1.65 trillion, a PE ratio of 27.72, a price-to-earnings-growth ratio of 1.52 and a beta of 1.06. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $139.16. 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 business has a 50 day moving average price of $131.84 and a 200-day moving average price of $120.46.
Analyst Ratings Changes
Several brokerages have recently weighed in on GOOGL. Stifel Nicolaus upped their price target on Alphabet from $130.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Sanford C. Bernstein upped their price target on Alphabet from $130.00 to $135.00 in a research report on Wednesday, July 26th. Morgan Stanley upped their price target on Alphabet from $150.00 to $155.00 in a research report on Wednesday, July 26th. Royal Bank of Canada upped their price target on Alphabet from $145.00 to $155.00 in a research report on Wednesday, July 26th. Finally, Tigress Financial upped their price target on 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 issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $143.89.
Read Our Latest Stock Report on GOOGL
Insider Activity at Alphabet
In related news, Director Kavitark Ram Shriram sold 31,240 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 5,364 shares in the company, valued at $626,622.48. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Alphabet news, Director Kavitark Ram Shriram sold 31,240 shares of the stock in a transaction on Monday, July 10th. The stock was sold at an average price of $116.82, for a total value of $3,649,456.80. Following the completion of the transaction, the director now owns 5,364 shares in the company, valued at $626,622.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frances Arnold sold 240 shares of the stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $130.85, for a total value of $31,404.00. Following the completion of the transaction, the director now owns 13,917 shares of the company’s stock, valued at approximately $1,821,039.45. The disclosure for this sale can be found here. Insiders sold a total of 131,731 shares of company stock worth $16,880,398 over the last quarter. 0.88% of the stock is owned by corporate insiders.
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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