Tennessee Valley Asset Management Partners reduced its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 3.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 11,786 shares of the information services provider’s stock after selling 424 shares during the quarter. Tennessee Valley Asset Management Partners’ holdings in Alphabet were worth $2,245,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of GOOG. Weiss Asset Management LP purchased a new stake in shares of Alphabet during the 3rd quarter worth approximately $25,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Alphabet in the third quarter valued at $33,000. Sanctuary Wealth Management L.L.C. lifted its holdings in Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 117 shares in the last quarter. Iron Horse Wealth Management LLC boosted its position in Alphabet by 32.3% during the third quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock worth $57,000 after acquiring an additional 84 shares during the last quarter. Finally, Kieckhefer Group LLC acquired a new stake in shares of Alphabet during the fourth quarter worth $76,000. Institutional investors and hedge funds own 27.26% of the company’s stock.
Alphabet Stock Up 0.1 %
GOOG stock opened at $197.18 on Thursday. The stock has a market cap of $2.41 trillion, a PE ratio of 26.15, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99. The firm’s 50-day simple moving average is $188.64 and its 200 day simple moving average is $175.20. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $203.84. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.
Insider Buying and Selling at Alphabet
In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the completion of the transaction, the chief executive officer now directly owns 2,084,306 shares of the company’s stock, valued at approximately $369,672,512.16. This trade represents a 1.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction on Friday, November 1st. The shares were sold at an average price of $171.42, for a total value of $234,331.14. Following the transaction, the chief accounting officer now owns 26,349 shares in the company, valued at approximately $4,516,745.58. This trade represents a 4.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 122,887 shares of company stock valued at $22,470,464 in the last quarter. Corporate insiders own 12.99% of the company’s stock.
Analyst Upgrades and Downgrades
GOOG has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Citigroup boosted their price target on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Scotiabank increased their target price on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Friday, January 24th. Finally, Pivotal Research increased their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $205.13.
Read Our Latest Analysis on GOOG
Alphabet Company 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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