Petredis Investment Advisors LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 2.8% in the 4th quarter, HoldingsChannel reports. The fund owned 194,747 shares of the information services provider’s stock after selling 5,543 shares during the quarter. Alphabet makes up approximately 3.8% of Petredis Investment Advisors LLC’s holdings, making the stock its 7th biggest holding. Petredis Investment Advisors LLC’s holdings in Alphabet were worth $36,866,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in GOOGL. LMR Partners LLP purchased a new position in shares of Alphabet during the third quarter worth $32,000. Denver PWM LLC boosted its position in shares of Alphabet by 25.4% during the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after buying an additional 57 shares during the period. Quarry LP purchased a new position in shares of Alphabet during the second quarter worth $53,000. Teachers Insurance & Annuity Association of America purchased a new position in shares of Alphabet during the third quarter worth $66,000. Finally, Mendota Financial Group LLC boosted its position in shares of Alphabet by 19.0% during the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock worth $67,000 after buying an additional 64 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet Trading Up 2.8 %
NASDAQ GOOGL opened at $200.87 on Friday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.46 trillion, a P/E ratio of 26.64, a P/E/G ratio of 1.27 and a beta of 0.98. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $202.29. The firm has a 50-day moving average price of $187.53 and a 200 day moving average price of $173.84.
Insider Activity at Alphabet
In other Alphabet news, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $197.55, for a total value of $559,856.70. Following the completion of the transaction, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at approximately $4,085,531.55. This trade represents a 12.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Frances Arnold sold 441 shares of the 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 directly owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 121,630 shares of company stock worth $22,258,133 over the last 90 days. Company insiders own 11.55% of the company’s stock.
Analyst Upgrades and Downgrades
GOOGL has been the subject of several research analyst reports. Royal Bank of Canada raised their price target on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Wedbush lifted their target price on Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, January 6th. Stifel Nicolaus lifted their target price on Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 13th. Wolfe Research lifted their target price on Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a report on Tuesday, December 10th. Nine equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $209.82.
Get Our Latest Analysis on Alphabet
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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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