Sound View Wealth Advisors Group LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 2.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 62,162 shares of the information services provider’s stock after selling 1,775 shares during the quarter. Alphabet makes up 1.0% of Sound View Wealth Advisors Group LLC’s investment portfolio, making the stock its 25th biggest holding. Sound View Wealth Advisors Group LLC’s holdings in Alphabet were worth $7,520,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of GOOG. BlackRock Inc. raised its holdings in shares of Alphabet by 0.3% during the first quarter. BlackRock Inc. now owns 365,927,668 shares of the information services provider’s stock valued at $38,056,478,000 after purchasing an additional 1,230,697 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Alphabet by 94,153.5% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 200,558,295 shares of the information services provider’s stock valued at $24,261,537,000 after purchasing an additional 200,345,509 shares during the period. Moneta Group Investment Advisors LLC raised its holdings in shares of Alphabet by 61,587.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock valued at $11,539,004,000 after purchasing an additional 129,835,437 shares during the period. Morgan Stanley raised its holdings in shares of Alphabet by 37.6% during the fourth quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock valued at $6,368,961,000 after purchasing an additional 19,612,974 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Alphabet by 2.9% during the first quarter. JPMorgan Chase & Co. now owns 71,490,715 shares of the information services provider’s stock valued at $7,435,034,000 after purchasing an additional 2,041,609 shares during the period. Institutional investors own 27.13% of the company’s stock.
Insiders Place Their Bets
In related news, Director Frances Arnold sold 250 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $124.36, for a total value of $31,090.00. Following the sale, the director now directly owns 14,226 shares of the company’s stock, valued at $1,769,145.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, Director Frances Arnold sold 250 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $124.36, for a total value of $31,090.00. Following the completion of the transaction, the director now owns 14,226 shares of the company’s stock, valued at approximately $1,769,145.36. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Prabhakar Raghavan sold 16,083 shares of the business’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 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. Insiders have sold 101,576 shares of company stock worth $13,593,261 in the last ninety days. 12.99% of the stock is currently owned by insiders.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the stock. Susquehanna upped their target price on shares of Alphabet from $120.00 to $150.00 in a report on Wednesday, July 26th. Robert W. Baird upped their target price on shares of Alphabet from $123.00 to $140.00 in a report on Wednesday, July 26th. Wedbush began coverage on shares of Alphabet in a research report on Monday, August 21st. They issued an “outperform” rating for the company. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $160.00 price objective on shares of Alphabet in a research report on Wednesday, October 25th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Buy” and an average price target of $130.69.
Read Our Latest Stock Report on GOOG
Alphabet Stock Performance
Shares of GOOG stock opened at $132.40 on Wednesday. The stock has a market capitalization of $1.66 trillion, a P/E ratio of 25.41, a PEG ratio of 1.48 and a beta of 1.05. The company has a current ratio of 2.04, a quick ratio of 2.01 and a debt-to-equity ratio of 0.05. The firm’s 50 day moving average is $134.86 and its 200 day moving average is $126.87. Alphabet Inc. has a 12 month low of $85.57 and a 12 month high of $142.38.
About Alphabet
(Free Report)
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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