Whalen Wealth Management Inc. increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 72.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,388 shares of the information services provider’s stock after purchasing an additional 1,002 shares during the period. Whalen Wealth Management Inc.’s holdings in Alphabet were worth $452,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Citizens Financial Group Inc. RI lifted its holdings in Alphabet by 98.5% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 475,925 shares of the information services provider’s stock worth $86,690,000 after buying an additional 236,214 shares in the last quarter. City of London Investment Management Co. Ltd. lifted its holdings in Alphabet by 7.8% during the 2nd quarter. City of London Investment Management Co. Ltd. now owns 199,835 shares of the information services provider’s stock worth $36,384,000 after buying an additional 14,420 shares in the last quarter. Wulff Hansen & CO. lifted its holdings in Alphabet by 18,810.2% during the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock worth $807,700,000 after buying an additional 4,410,811 shares in the last quarter. Luts & Greenleigh Group Inc. acquired a new stake in Alphabet during the 2nd quarter worth approximately $1,391,000. Finally, Lmcg Investments LLC lifted its holdings in Alphabet by 1.3% during the 2nd quarter. Lmcg Investments LLC now owns 272,392 shares of the information services provider’s stock worth $49,616,000 after buying an additional 3,366 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.
Alphabet Stock Up 1.8 %
Shares of NASDAQ:GOOGL opened at $195.30 on Wednesday. The company has a market cap of $2.39 trillion, a price-to-earnings ratio of 25.90, a PEG ratio of 1.27 and a beta of 0.98. The firm’s 50-day simple moving average is $186.79 and its 200-day simple moving average is $173.61. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $202.29.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on GOOGL. Evercore ISI increased their target price on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Needham & Company LLC raised their price objective on shares of Alphabet from $210.00 to $225.00 and gave the company a “buy” rating in a report on Monday. Loop Capital raised their price objective on shares of Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Pivotal Research raised their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, China Renaissance upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Nine investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $209.82.
Read Our Latest Research Report on GOOGL
Insider Activity at Alphabet
In other Alphabet news, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the transaction, the director now owns 16,490 shares in the company, valued at approximately $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $171.42, for a total transaction of $234,331.14. Following the transaction, the chief accounting officer now owns 26,349 shares of the company’s stock, valued at approximately $4,516,745.58. The trade was a 4.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 122,887 shares of company stock worth $22,470,464 over the last 90 days. Company insiders own 11.55% of the company’s stock.
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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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