Compass Capital Management Inc. decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 9.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 471,978 shares of the information services provider’s stock after selling 48,061 shares during the quarter. Alphabet comprises about 4.1% of Compass Capital Management Inc.’s portfolio, making the stock its 13th biggest holding. Compass Capital Management Inc.’s holdings in Alphabet were worth $56,496,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently made changes to their positions in the stock. Essex LLC grew its holdings in Alphabet by 4.6% in the 2nd quarter. Essex LLC now owns 26,239 shares of the information services provider’s stock valued at $3,141,000 after buying an additional 1,165 shares in the last quarter. Smith Chas P & Associates PA Cpas lifted its position in shares of Alphabet by 19.2% during the 2nd quarter. Smith Chas P & Associates PA Cpas now owns 11,166 shares of the information services provider’s stock valued at $1,337,000 after acquiring an additional 1,800 shares during the period. Parnassus Investments LLC lifted its position in shares of Alphabet by 0.9% during the 2nd quarter. Parnassus Investments LLC now owns 14,336,589 shares of the information services provider’s stock valued at $1,716,090,000 after acquiring an additional 130,202 shares during the period. WealthPLAN Partners LLC lifted its position in shares of Alphabet by 1.5% during the 2nd quarter. WealthPLAN Partners LLC now owns 12,572 shares of the information services provider’s stock valued at $1,505,000 after acquiring an additional 181 shares during the period. Finally, Moloney Securities Asset Management LLC lifted its position in shares of Alphabet by 3.2% during the 2nd quarter. Moloney Securities Asset Management LLC now owns 60,657 shares of the information services provider’s stock valued at $7,261,000 after acquiring an additional 1,901 shares during the period. Institutional investors and hedge funds own 35.08% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on GOOGL. Robert W. Baird upped their target price on Alphabet from $123.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, July 21st. Roth Mkm upped their target price on Alphabet from $146.00 to $152.00 and gave the company a “buy” rating in a research report on Wednesday. Mizuho upped their target price on Alphabet from $135.00 to $155.00 in a research report on Wednesday, July 26th. JMP Securities upped their price objective on Alphabet from $138.00 to $140.00 and gave the stock a “market outperform” rating in a research report on Wednesday. Finally, StockNews.com began coverage on Alphabet in a research report on Thursday, October 5th. They set a “buy” rating for the company. Five investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $146.91.
Alphabet Trading Down 0.1 %
NASDAQ GOOGL opened at $122.17 on Friday. The business has a 50 day simple moving average of $134.24 and a 200 day simple moving average of $124.76. Alphabet Inc. has a one year low of $83.34 and a one year high of $141.22. The stock has a market capitalization of $1.54 trillion, a P/E ratio of 23.45, a P/E/G ratio of 1.39 and a beta of 1.06. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.04 and a quick ratio of 2.14.
Insider Buying and Selling
In related news, Director Ann Mather sold 260 shares of the firm’s stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $129.82, for a total transaction of $33,753.20. Following the completion of the sale, the director now owns 4,759 shares of the company’s stock, valued at $617,813.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, Director Ann Mather sold 260 shares of the stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $129.82, for a total value of $33,753.20. Following the transaction, the director now owns 4,759 shares in the company, valued at $617,813.38. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 35,799 shares of the stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $130.54, for a total value of $4,673,201.46. Following the completion of the transaction, the insider now owns 17,484 shares in the company, valued at approximately $2,282,361.36. The disclosure for this sale can be found here. Insiders sold 100,901 shares of company stock valued at $13,507,312 over the last 90 days. Company insiders own 0.88% of the company’s stock.
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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