Alecta Tjanstepension Omsesidigt decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 17.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,491,000 shares of the information services provider’s stock after selling 2,500,000 shares during the period. Alphabet accounts for about 10.0% of Alecta Tjanstepension Omsesidigt’s portfolio, making the stock its 2nd biggest holding. Alecta Tjanstepension Omsesidigt owned approximately 0.09% of Alphabet worth $1,605,293,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in GOOGL. Live Oak Investment Partners bought a new position in Alphabet during the fourth quarter valued at approximately $26,000. VitalStone Financial LLC boosted its stake in Alphabet by 1,900.0% during the second quarter. VitalStone Financial LLC now owns 280 shares of the information services provider’s stock valued at $34,000 after buying an additional 266 shares during the last quarter. Sanctuary Wealth Management L.L.C. bought a new position in Alphabet during the fourth quarter valued at approximately $34,000. Turim 21 Investimentos Ltda. bought a new position in Alphabet during the third quarter valued at approximately $38,000. Finally, Meritage Group LP boosted its stake in Alphabet by 1,061.5% during the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after buying an additional 276 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.
Alphabet Trading Up 0.1 %
GOOGL opened at $150.87 on Thursday. The stock’s fifty day moving average is $143.33 and its two-hundred day moving average is $138.03. The company has a market capitalization of $1.88 trillion, a P/E ratio of 26.01, a PEG ratio of 1.39 and a beta of 1.04. Alphabet Inc. has a 52 week low of $99.74 and a 52 week high of $153.78. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on GOOGL. Redburn Atlantic increased their price target on Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Mizuho increased their price target on Alphabet from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Wolfe Research raised their price objective on Alphabet from $170.00 to $180.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Truist Financial lowered their price objective on Alphabet from $160.00 to $158.00 and set a “buy” rating for the company in a research note on Wednesday, January 31st. Finally, Rosenblatt Securities lowered their price objective on Alphabet from $174.00 to $172.00 and set a “buy” rating for the company in a research note on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.48.
Get Our Latest Stock Report on Alphabet
Insider Buying and Selling at Alphabet
In other Alphabet news, Director Frances Arnold sold 240 shares of the stock in a transaction on Friday, December 29th. The stock was sold at an average price of $140.51, for a total transaction of $33,722.40. Following the sale, the director now owns 14,815 shares of the company’s stock, valued at approximately $2,081,655.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Frances Arnold sold 240 shares of the firm’s stock in a transaction on Friday, December 29th. The stock was sold at an average price of $140.51, for a total value of $33,722.40. Following the completion of the sale, the director now owns 14,815 shares of the company’s stock, valued at approximately $2,081,655.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 16,088 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $139.10, for a total value of $2,237,840.80. Following the completion of the sale, the senior vice president now directly owns 52,440 shares of the company’s stock, valued at approximately $7,294,404. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 251,378 shares of company stock valued at $35,461,377. 0.88% of the stock is currently owned by corporate insiders.
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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