Derbend Asset Management bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,904 shares of the information services provider’s stock, valued at approximately $228,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Bornite Capital Management LP bought a new position in Alphabet during the 1st quarter valued at about $16,688,000. Markel Corp grew its stake in Alphabet by 17.0% in the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after purchasing an additional 2,250 shares in the last quarter. United Bank increased its stake in shares of Alphabet by 5.9% during the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after buying an additional 113 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Alphabet by 23.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after purchasing an additional 61,427 shares during the period. Finally, Dakota Wealth Management increased its holdings in Alphabet by 20.4% during the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after buying an additional 1,570 shares during the period. 35.08% of the stock is owned by hedge funds and other institutional investors.
Alphabet Price Performance
Shares of GOOGL opened at $137.58 on Friday. The stock has a market cap of $1.73 trillion, a PE ratio of 29.15, a P/E/G ratio of 1.55 and a beta of 1.06. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.14. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $139.16. The firm has a 50-day simple moving average of $132.63 and a two-hundred day simple moving average of $121.66.
Analyst Ratings Changes
Several equities analysts have issued reports on the company. UBS Group lowered Alphabet from a “buy” rating to a “neutral” rating and lifted their target price for the company from $123.00 to $132.00 in a research note on Monday, June 26th. TD Cowen increased their price objective on Alphabet from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, July 13th. Truist Financial raised their target price on shares of Alphabet from $122.00 to $160.00 in a report on Wednesday, July 26th. Piper Sandler reduced 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, October 3rd. Finally, Sanford C. Bernstein upped their price objective on shares of Alphabet from $130.00 to $135.00 in a research report on Wednesday, July 26th. Four research 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 stock has an average rating of “Moderate Buy” and a consensus target price of $143.86.
View Our Latest Stock Report on GOOGL
Insider Activity
In related news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $131.14, for a total value of $26,228.00. Following the sale, the director now owns 5,340 shares of the company’s stock, valued at $700,287.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Amie Thuener O’toole sold 3,749 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $136.28, for a total value of $510,913.72. Following the completion of the sale, the chief accounting officer now directly owns 25,568 shares of the company’s stock, valued at $3,484,407.04. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $131.14, for a total value of $26,228.00. Following the completion of the sale, the director now directly owns 5,340 shares of the company’s stock, valued at $700,287.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 132,331 shares of company stock worth $17,176,933. Corporate insiders own 0.88% of the company’s stock.
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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