Bridgewater Advisors Inc. increased its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 5.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,281 shares of the information services provider’s stock after purchasing an additional 1,337 shares during the quarter. Bridgewater Advisors Inc.’s holdings in Alphabet were worth $3,421,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of GOOG. Achmea Investment Management B.V. lifted its holdings in shares of Alphabet by 39.9% during the second quarter. Achmea Investment Management B.V. now owns 433,002 shares of the information services provider’s stock valued at $52,380,000 after acquiring an additional 123,484 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of Alphabet by 2.4% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 217,803 shares of the information services provider’s stock valued at $26,348,000 after acquiring an additional 5,017 shares during the period. Arkfeld Wealth Strategies L.L.C. lifted its holdings in shares of Alphabet by 39.1% during the second quarter. Arkfeld Wealth Strategies L.L.C. now owns 17,228 shares of the information services provider’s stock valued at $2,061,000 after acquiring an additional 4,844 shares during the period. Verum Partners LLC lifted its holdings in shares of Alphabet by 47.3% during the second quarter. Verum Partners LLC now owns 5,458 shares of the information services provider’s stock valued at $660,000 after acquiring an additional 1,752 shares during the period. Finally, Carlson Capital Management lifted its holdings in shares of Alphabet by 10.8% during the second quarter. Carlson Capital Management now owns 10,917 shares of the information services provider’s stock valued at $1,321,000 after acquiring an additional 1,065 shares during the period. 27.13% of the stock is owned by institutional investors.
Alphabet Price Performance
Shares of GOOG stock opened at $138.73 on Monday. The stock has a 50-day moving average price of $133.39 and a 200 day moving average price of $122.45. 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 firm has a market cap of $1.75 trillion, a price-to-earnings ratio of 29.39, a PEG ratio of 1.60 and a beta of 1.06. Alphabet Inc. has a 12 month low of $83.45 and a 12 month high of $139.93.
Analyst Ratings Changes
GOOG has been the subject of a number of analyst reports. Oppenheimer lifted their price objective on Alphabet from $145.00 to $160.00 in a report on Wednesday, July 26th. Robert W. Baird lifted their price objective on Alphabet from $123.00 to $140.00 in a report on Wednesday, July 26th. Wedbush began coverage on Alphabet in a report on Monday, August 21st. They set an “outperform” rating for the company. Finally, Susquehanna raised their target price on Alphabet from $120.00 to $150.00 in a research note on Wednesday, July 26th. Thirteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $130.94.
Read Our Latest Research Report on Alphabet
Insider Buying and Selling
In related news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Thursday, August 10th. The stock was 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 in the company, valued at $700,287.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Thursday, August 10th. The stock was 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 in the company, valued at $700,287.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John Kent Walker sold 42,900 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $136.51, for a total value 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 disclosure for this sale can be found here. Insiders sold a total of 101,091 shares of company stock worth $13,527,476 over the last three months. 12.99% of the stock is currently owned by company insiders.
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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