Hanson & Doremus Investment Management increased its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 7.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,984 shares of the information services provider’s stock after purchasing an additional 2,175 shares during the period. Alphabet accounts for 0.8% of Hanson & Doremus Investment Management’s holdings, making the stock its 21st biggest holding. Hanson & Doremus Investment Management’s holdings in Alphabet were worth $3,709,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. DC Investments Management LLC bought a new stake in shares of Alphabet in the first quarter worth about $114,000. Bridgefront Capital LLC bought a new stake in Alphabet in the 1st quarter worth approximately $225,000. Worth Asset Management LLC purchased a new stake in shares of Alphabet during the 1st quarter worth approximately $206,000. Eudaimonia Advisors LLC raised its holdings in shares of Alphabet by 15.1% during the 1st quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after acquiring an additional 13 shares in the last quarter. Finally, Aspire Capital Advisors LLC bought a new position in Alphabet during the first quarter valued at $281,000. 35.08% of the stock is currently owned by institutional investors.
Alphabet Stock Down 1.1 %
GOOGL opened at $130.86 on Monday. The company has a fifty day moving average of $131.84 and a two-hundred day moving average of $120.64. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.14 and a current ratio of 2.17. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $139.16. The stock has a market capitalization of $1.65 trillion, a price-to-earnings ratio of 27.72, a PEG ratio of 1.51 and a beta of 1.06.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on the company. Tigress Financial boosted their price objective on Alphabet from $160.00 to $172.00 and gave the stock a “strong-buy” rating in a research note on Friday, July 14th. 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 note on Wednesday, July 26th. Truist Financial lifted their target price on Alphabet from $122.00 to $160.00 in a research report on Wednesday, July 26th. 51job restated a “downgrade” rating on shares of Alphabet in a report on Tuesday, June 27th. Finally, Bank of America boosted their price target on Alphabet from $142.00 to $146.00 and gave the stock a “buy” rating in a research report on Wednesday, August 30th. Four 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’s stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $143.89.
Get Our Latest Report on Alphabet
Insider Activity
In related news, Director Kavitark Ram Shriram sold 31,240 shares of Alphabet stock in a transaction dated 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 sale, the director now directly owns 5,364 shares in the company, valued at approximately $626,622.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Alphabet news, Director Kavitark Ram Shriram sold 31,240 shares of the firm’s 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 transaction, the director now owns 5,364 shares in the company, valued at approximately $626,622.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $131.14, for a total transaction of $26,228.00. Following the sale, the director now directly owns 5,340 shares of the company’s stock, valued at approximately $700,287.60. The disclosure for this sale can be found here. Insiders have sold 115,648 shares of company stock worth $14,945,452 in the last quarter. Corporate insiders own 0.88% of the company’s stock.
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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