Sycomore Asset Management lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,639 shares of the information services provider’s stock after purchasing an additional 380 shares during the quarter. Alphabet makes up about 1.3% of Sycomore Asset Management’s holdings, making the stock its 28th biggest position. Sycomore Asset Management’s holdings in Alphabet were worth $5,485,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the business. Hoxton Planning & Management LLC increased its stake in shares of Alphabet by 17.8% during the 2nd quarter. Hoxton Planning & Management LLC now owns 8,403 shares of the information services provider’s stock worth $1,006,000 after purchasing an additional 1,271 shares during the last quarter. Guild Investment Management Inc. increased its stake in shares of Alphabet by 5.7% during the 2nd quarter. Guild Investment Management Inc. now owns 8,506 shares of the information services provider’s stock worth $1,018,000 after purchasing an additional 460 shares during the last quarter. Sabal Trust CO increased its stake in shares of Alphabet by 363.8% during the 2nd quarter. Sabal Trust CO now owns 19,527 shares of the information services provider’s stock worth $2,337,000 after purchasing an additional 15,317 shares during the last quarter. Black Swift Group LLC increased its stake in shares of Alphabet by 247.4% during the 2nd quarter. Black Swift Group LLC now owns 33,000 shares of the information services provider’s stock worth $3,950,000 after purchasing an additional 23,500 shares during the last quarter. Finally, James Hambro & Partners increased its stake in shares of Alphabet by 3.0% during the 2nd quarter. James Hambro & Partners now owns 47,081 shares of the information services provider’s stock worth $5,636,000 after purchasing an additional 1,371 shares during the last quarter. Institutional investors and hedge funds own 35.08% of the company’s stock.
Alphabet Trading Up 1.9 %
Shares of Alphabet stock opened at $137.58 on Friday. The stock has a market capitalization of $1.73 trillion, a P/E ratio of 29.15, 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. The company has a 50-day simple moving average of $132.63 and a 200 day simple moving average of $121.54. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $139.16.
Analyst Ratings Changes
Several research analysts have recently commented on the stock. Barclays increased their price target on shares of Alphabet from $160.00 to $200.00 in a research note on Wednesday, July 26th. Sanford C. Bernstein raised their target price on shares of Alphabet from $130.00 to $135.00 in a research note on Wednesday, July 26th. Rosenblatt Securities raised their target price on shares of Alphabet from $132.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, July 26th. Mizuho raised their target price on shares of Alphabet from $135.00 to $155.00 in a research note on Wednesday, July 26th. Finally, The Goldman Sachs Group raised their target price on shares of Alphabet from $132.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, July 17th. Four investment 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.86.
View Our Latest Stock Analysis on GOOGL
Insider Buying and Selling
In other Alphabet news, Director Kavitark Ram Shriram sold 31,240 shares of the firm’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $116.82, for a total value of $3,649,456.80. Following the completion of the sale, the director now owns 5,364 shares in the company, valued at approximately $626,622.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $133.82, for a total value of $2,152,227.06. Following the completion of the sale, the senior vice president now owns 75,621 shares in the company, valued at approximately $10,119,602.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 31,240 shares of the firm’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $116.82, for a total transaction of $3,649,456.80. Following the completion of the sale, the director now owns 5,364 shares of the company’s stock, valued at approximately $626,622.48. The disclosure for this sale can be found here. Insiders sold 132,331 shares of company stock worth $17,176,933 in the last quarter. 0.88% of the stock is owned by corporate insiders.
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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