Bridgewater Advisors Inc. decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,055 shares of the information services provider’s stock after selling 270 shares during the period. Alphabet makes up approximately 1.0% of Bridgewater Advisors Inc.’s investment portfolio, making the stock its 21st biggest position. Bridgewater Advisors Inc.’s holdings in Alphabet were worth $4,914,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Live Oak Investment Partners bought a new stake in shares of Alphabet in the 4th quarter worth about $26,000. Armor Investment Advisors LLC bought a new stake in Alphabet during the second quarter worth approximately $28,000. Sanctuary Wealth Management L.L.C. purchased a new stake in Alphabet during the fourth quarter valued at approximately $34,000. Turim 21 Investimentos Ltda. bought a new stake in shares of Alphabet in the 3rd quarter valued at approximately $38,000. Finally, IAG Wealth Partners LLC boosted its holdings in shares of Alphabet by 100.0% in 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. Hedge funds and other institutional investors own 35.08% of the company’s stock.
Alphabet Trading Down 1.1 %
NASDAQ GOOGL opened at $138.97 on Friday. The company has a fifty day simple moving average of $133.33 and a two-hundred day simple moving average of $122.49. The stock has a market cap of $1.75 trillion, a P/E ratio of 29.44, a P/E/G ratio of 1.59 and a beta of 1.06. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $141.22. The company has a current ratio of 2.17, a quick ratio of 2.14 and a debt-to-equity ratio of 0.05.
Analysts Set New Price Targets
A number of equities analysts have recently commented on the company. Susquehanna reiterated a “positive” rating and issued a $150.00 target price on shares of Alphabet in a report on Thursday, August 31st. UBS Group cut shares of Alphabet from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $123.00 to $132.00 in a research note on Monday, June 26th. KeyCorp lifted their price target on shares of Alphabet from $140.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 26th. Sanford C. Bernstein lifted their price target on shares of Alphabet from $130.00 to $135.00 in a research note on Wednesday, July 26th. Finally, Barclays boosted their price objective on Alphabet from $160.00 to $200.00 in a report on Wednesday, July 26th. Four analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $144.00.
Get Our Latest Research Report on GOOGL
Insider Transactions at Alphabet
In related news, CAO Amie Thuener O’toole sold 3,749 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $136.28, for a total transaction of $510,913.72. Following the completion of the transaction, the chief accounting officer now 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 at the SEC website. In related news, CAO Amie Thuener O’toole sold 3,749 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $136.28, for a total transaction of $510,913.72. Following the sale, the chief accounting officer now directly owns 25,568 shares of the company’s stock, valued at $3,484,407.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ann Mather sold 220 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $121.75, for a total value of $26,785.00. Following the completion of the transaction, the director now directly owns 4,759 shares of the company’s stock, valued at $579,408.25. The disclosure for this sale can be found here. Insiders sold a total of 101,091 shares of company stock worth $13,530,462 over the last three months. 0.88% of the stock is currently owned by insiders.
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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