JLB & Associates Inc. raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 11.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,996 shares of the information services provider’s stock after acquiring an additional 1,230 shares during the period. JLB & Associates Inc.’s holdings in Alphabet were worth $1,451,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Live Oak Investment Partners bought a new stake in shares of Alphabet during the 4th quarter worth $26,000. Armor Investment Advisors LLC bought a new stake in shares of Alphabet during the 2nd quarter worth $28,000. Sanctuary Wealth Management L.L.C. bought a new stake in shares of Alphabet during the 4th quarter worth $34,000. Turim 21 Investimentos Ltda. bought a new stake in shares of Alphabet during the 3rd quarter worth $38,000. Finally, IAG Wealth Partners LLC raised its stake in shares of Alphabet by 100.0% during the 1st quarter. IAG Wealth Partners LLC now owns 400 shares of the information services provider’s stock worth $41,000 after purchasing an additional 200 shares during the period. 35.08% of the stock is currently owned by institutional investors.
Alphabet Stock Performance
Shares of GOOGL opened at $137.58 on Monday. The stock has a 50-day moving average price of $132.63 and a 200-day moving average price of $121.78. The company has a market cap of $1.73 trillion, a PE ratio of 29.15, a price-to-earnings-growth ratio of 1.58 and a beta of 1.06. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $139.16. The company has a current ratio of 2.17, a quick ratio of 2.14 and a debt-to-equity ratio of 0.05.
Insider Buying and Selling
In related news, SVP Prabhakar Raghavan sold 16,083 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was 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 accessible through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was 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 $10,119,602.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 42,900 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $136.51, for a total value of $5,856,279.00. Following the completion of the sale, the insider now owns 10,383 shares of the company’s stock, valued at approximately $1,417,383.33. The disclosure for this sale can be found here. Insiders sold 101,091 shares of company stock worth $13,527,476 in the last quarter. 0.88% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on GOOGL shares. Bank of America lifted their target price on Alphabet from $142.00 to $146.00 and gave the stock a “buy” rating in a research note on Wednesday, October 4th. Loop Capital lifted their price objective on Alphabet from $125.00 to $140.00 and gave the stock a “hold” rating in a report on Friday, August 18th. Truist Financial lifted their price objective on Alphabet from $122.00 to $160.00 in a report on Wednesday, July 26th. Evercore ISI lifted their price objective on Alphabet from $130.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, July 26th. Finally, Credit Suisse Group lifted their price objective on Alphabet from $135.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, July 17th. Four equities research 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $143.86.
Read Our Latest Analysis on GOOGL
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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