Altfest L J & Co. Inc. grew its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 20.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,273 shares of the information services provider’s stock after purchasing an additional 6,346 shares during the period. Alphabet comprises 0.7% of Altfest L J & Co. Inc.’s portfolio, making the stock its 29th largest holding. Altfest L J & Co. Inc.’s holdings in Alphabet were worth $4,509,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. DC Investments Management LLC purchased a new position in Alphabet in the first quarter valued at about $115,000. Guardian Wealth Management Inc. bought a new stake in shares of Alphabet in the 1st quarter valued at approximately $184,000. Turim 21 Investimentos Ltda. increased its holdings in Alphabet by 10.8% in the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after buying an additional 8 shares during the last quarter. qPULA Trading Management LP bought a new position in Alphabet during the first quarter valued at approximately $279,000. Finally, Dynamic Technology Lab Private Ltd lifted its stake in Alphabet by 29.2% in the first quarter. Dynamic Technology Lab Private Ltd now owns 115 shares of the information services provider’s stock valued at $321,000 after acquiring an additional 26 shares during the last quarter. 27.13% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Alphabet
In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $133.82, for a total value of $2,152,227.06. Following the completion of the transaction, the senior vice president now owns 75,621 shares of the company’s stock, valued at approximately $10,119,602.22. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CAO Amie Thuener O’toole sold 3,749 shares of Alphabet stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $136.28, for a total transaction of $510,913.72. Following the sale, the chief accounting officer now directly owns 25,568 shares in the company, valued at approximately $3,484,407.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 16,083 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $133.82, for a total transaction of $2,152,227.06. Following the completion of the transaction, the senior vice president now directly owns 75,621 shares of the company’s stock, valued at approximately $10,119,602.22. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 176,376 shares of company stock worth $23,398,783. 12.99% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on GOOG shares. Oppenheimer reissued an “outperform” rating and set a $160.00 target price on shares of Alphabet in a research report on Wednesday, October 25th. Susquehanna raised their price objective on Alphabet from $120.00 to $150.00 in a research note on Wednesday, July 26th. Robert W. Baird upped their target price on Alphabet from $123.00 to $140.00 in a research report on Wednesday, July 26th. Finally, Wedbush assumed coverage on shares of Alphabet in a research report on Monday, August 21st. They issued an “outperform” rating on the stock. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $130.69.
Check Out Our Latest Analysis on Alphabet
Alphabet Stock Performance
NASDAQ:GOOG traded down $0.69 during trading hours on Monday, hitting $133.37. 3,782,852 shares of the company traded hands, compared to its average volume of 25,986,006. The company has a current ratio of 2.04, a quick ratio of 2.01 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a twelve month low of $85.57 and a twelve month high of $142.38. The firm has a 50-day moving average of $134.62 and a 200 day moving average of $127.45. The stock has a market capitalization of $1.67 trillion, a price-to-earnings ratio of 25.60, a P/E/G ratio of 1.50 and a beta of 1.05.
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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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