Eads & Heald Wealth Management cut its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 7.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,970 shares of the information services provider’s stock after selling 1,190 shares during the period. Eads & Heald Wealth Management’s holdings in Alphabet were worth $1,792,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOGL. Onyx Bridge Wealth Group LLC grew its position in shares of Alphabet by 169.3% in the 2nd quarter. Onyx Bridge Wealth Group LLC now owns 11,182 shares of the information services provider’s stock valued at $1,338,000 after buying an additional 7,029 shares during the last quarter. Camelot Portfolios LLC grew its holdings in Alphabet by 116.1% during the second quarter. Camelot Portfolios LLC now owns 7,445 shares of the information services provider’s stock valued at $891,000 after purchasing an additional 4,000 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its position in shares of Alphabet by 2.3% during the second quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 66,871 shares of the information services provider’s stock worth $8,004,000 after acquiring an additional 1,534 shares in the last quarter. Leo Brokerage LLC raised its position in shares of Alphabet by 8.4% in the second quarter. Leo Brokerage LLC now owns 30,834 shares of the information services provider’s stock worth $3,691,000 after buying an additional 2,388 shares in the last quarter. Finally, United Asset Strategies Inc. raised its position in shares of Alphabet by 903.9% in the second quarter. United Asset Strategies Inc. now owns 155,726 shares of the information services provider’s stock worth $18,640,000 after buying an additional 140,214 shares in the last quarter. 35.08% of the stock is owned by institutional investors and hedge funds.
Alphabet Stock Down 1.2 %
NASDAQ:GOOGL opened at $137.36 on Monday. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $141.22. The firm’s 50-day moving average price is $133.51 and its 200-day moving average price is $123.03. The company has a market capitalization of $1.73 trillion, a PE ratio of 29.10, a P/E/G ratio of 1.59 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.
Insider Activity at Alphabet
In other news, Director Ann Mather sold 220 shares of the stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $121.75, for a total value of $26,785.00. Following the sale, the director now directly owns 4,759 shares in the company, valued at $579,408.25. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $139.93, for a total value of $27,986.00. Following the sale, the director now directly owns 7,384 shares in the company, valued at approximately $1,033,243.12. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ann Mather sold 220 shares of Alphabet stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $121.75, for a total transaction of $26,785.00. Following the sale, the director now directly owns 4,759 shares in the company, valued at approximately $579,408.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 101,091 shares of company stock valued at $13,530,462. Insiders own 0.88% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on GOOGL shares. Tigress Financial raised their price objective on Alphabet from $160.00 to $172.00 and gave the company a “strong-buy” rating in a research note on Friday, July 14th. Mizuho lifted their target price on shares of Alphabet from $135.00 to $155.00 in a research report on Wednesday, July 26th. Sanford C. Bernstein upped their target price on shares of Alphabet from $130.00 to $135.00 in a report on Wednesday, July 26th. Bank of America increased their price target on shares of Alphabet from $142.00 to $146.00 and gave the company a “buy” rating in a report on Wednesday, October 4th. Finally, Truist Financial lifted their price objective on shares of Alphabet from $122.00 to $160.00 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 given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $144.27.
Read Our Latest Research 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.
Featured Articles
- Five stocks we like better than Alphabet
- What is ChatGPT Stock? How to Invest in It
- MarketBeat Week in Review – 10/9 – 10/13
- How to Use the MarketBeat Dividend Calculator
- What BlackRock’s Earnings Tell You About The Stock Market Tide
- How and Why to Invest in Oil Stocks
- Sociedad Quimica y Minera de Chile Well Positioned Lithium Stock
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL – Free Report).
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.
