Paul Damon & Associates Inc. grew its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 8.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,849 shares of the information services provider’s stock after buying an additional 287 shares during the quarter. Paul Damon & Associates Inc.’s holdings in Alphabet were worth $461,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Live Oak Investment Partners acquired a new stake in shares of Alphabet during the 4th quarter valued at approximately $26,000. Armor Investment Advisors LLC acquired a new position in Alphabet during the second quarter worth $28,000. Sanctuary Wealth Management L.L.C. purchased a new stake in Alphabet during the fourth quarter worth $34,000. Turim 21 Investimentos Ltda. acquired a new stake in Alphabet in the third quarter valued at $38,000. Finally, IAG Wealth Partners LLC increased its position in shares of Alphabet by 100.0% in the first quarter. IAG Wealth Partners LLC now owns 400 shares of the information services provider’s stock valued at $41,000 after buying an additional 200 shares in the last quarter. 35.08% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet Price Performance
Shares of GOOGL stock opened at $137.36 on Friday. The firm has a fifty day simple moving average of $133.51 and a 200-day simple moving average of $122.88. The company has a market capitalization of $1.73 trillion, a PE ratio of 29.10, a price-to-earnings-growth ratio of 1.59 and a beta of 1.06. Alphabet Inc. has a twelve month low of $83.34 and a twelve 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.
Insiders Place Their Bets
In other news, insider John Kent Walker sold 42,900 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $136.51, for a total transaction of $5,856,279.00. Following the completion of the transaction, the insider now directly owns 10,383 shares in the company, valued at approximately $1,417,383.33. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Ann Mather sold 220 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $121.75, for a total value of $26,785.00. Following the sale, the director now owns 4,759 shares in the company, valued at approximately $579,408.25. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 42,900 shares of Alphabet 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 completion of 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 have sold 101,091 shares of company stock worth $13,530,462 in the last three months. 0.88% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on the stock. Wolfe Research boosted their price objective on shares of Alphabet from $130.00 to $140.00 in a research report on Monday, July 10th. Morgan Stanley increased their price target on shares of Alphabet from $150.00 to $155.00 in a research report on Wednesday, July 26th. Loop Capital lifted their price objective on Alphabet from $125.00 to $140.00 and gave the stock a “hold” rating in a research report on Friday, August 18th. Wells Fargo & Company increased their target price on Alphabet from $121.00 to $126.00 and gave the company an “equal weight” rating in a report on Tuesday, October 10th. Finally, JPMorgan Chase & Co. boosted their price target on Alphabet from $121.00 to $150.00 in a report on Wednesday, July 26th. Four equities research 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. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $144.27.
Get Our Latest Report on GOOGL
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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