Denali Advisors LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 28.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,900 shares of the information services provider’s stock after selling 2,700 shares during the quarter. Denali Advisors LLC’s holdings in Alphabet were worth $826,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of 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 acquiring an additional 453,413,389 shares during the last quarter. State Street Corp raised its holdings in shares of Alphabet by 1,900.6% during the third 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 last quarter. Moneta Group Investment Advisors LLC grew its position in shares of Alphabet by 111,197.8% in the fourth 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 purchasing an additional 170,267,122 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Alphabet by 1,759.2% in the third 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 purchasing an additional 109,870,525 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Alphabet in the fourth quarter valued at approximately $8,335,063,000. Institutional investors and hedge funds own 35.08% of the company’s stock.
Alphabet Stock Down 1.3 %
Alphabet stock opened at $132.43 on Wednesday. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $139.16. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.14. The stock has a market cap of $1.67 trillion, a PE ratio of 28.06, a P/E/G ratio of 1.51 and a beta of 1.06. The stock’s fifty day moving average is $132.30 and its two-hundred day moving average is $121.09.
Insider Buying and Selling at Alphabet
In other 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 transaction of $3,649,456.80. Following the sale, the director now owns 5,364 shares in the company, valued at $626,622.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider John Kent Walker sold 42,900 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $136.51, for a total transaction of $5,856,279.00. Following the transaction, the insider now owns 10,383 shares of the company’s stock, valued at $1,417,383.33. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 31,240 shares of the firm’s 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 transaction, the director now directly 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 a total of 116,248 shares of company stock worth $15,024,706 over the last ninety days. Corporate insiders own 0.88% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on GOOGL shares. Piper Sandler dropped their price target on Alphabet from $148.00 to $147.00 and set an “overweight” rating for the company in a research report on Tuesday. StockNews.com started coverage on Alphabet in a research report on Thursday, August 17th. They issued a “buy” rating for the company. Citigroup upped their price target on Alphabet from $130.00 to $153.00 in a research report on Wednesday, July 26th. 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. Finally, Wedbush began coverage on Alphabet in a research report on Monday, August 21st. They issued an “outperform” rating and a $160.00 price objective for the company. Four research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.86.
Read Our Latest Research Report on Alphabet
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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