Slow Capital Inc. reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 17.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,960 shares of the information services provider’s stock after selling 4,695 shares during the quarter. Slow Capital Inc.’s holdings in Alphabet were worth $4,373,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Centaurus Financial Inc. increased its position in Alphabet by 111.0% in the 2nd quarter. Centaurus Financial Inc. now owns 69,259 shares of the information services provider’s stock valued at $12,704,000 after acquiring an additional 36,439 shares during the period. Alternative Investment Advisors LLC. bought a new position in shares of Alphabet in the second quarter worth $216,000. Ashburton Jersey Ltd acquired a new position in shares of Alphabet during the second quarter valued at $23,681,000. Mattson Financial Services LLC bought a new stake in shares of Alphabet during the second quarter valued at about $7,594,000. Finally, Global Wealth Strategies & Associates lifted its holdings in Alphabet by 21.4% in the third quarter. Global Wealth Strategies & Associates now owns 1,020 shares of the information services provider’s stock worth $171,000 after purchasing an additional 180 shares during the period. 27.26% of the stock is currently owned by institutional investors.
Alphabet Stock Up 2.8 %
Shares of NASDAQ:GOOG opened at $202.63 on Friday. The firm has a 50 day simple moving average of $189.03 and a 200 day simple moving average of $175.35. Alphabet Inc. has a 52 week low of $131.55 and a 52 week high of $203.84. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market cap of $2.48 trillion, a PE ratio of 26.87, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99.
Insider Activity
In related news, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the sale, the director now directly owns 282,832 shares in the company, valued at approximately $52,329,576.64. This trade represents a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Frances Arnold sold 441 shares of the company’s stock in a transaction that occurred on 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 owns 16,490 shares in the company, valued at approximately $2,820,779.40. This represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 121,630 shares of company stock worth $22,258,133. 12.99% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
GOOG has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price target on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Wedbush reaffirmed an “outperform” rating and set a $220.00 price target on shares of Alphabet in a research note on Thursday. Jefferies Financial Group lifted their price target on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Oppenheimer upped their price objective on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $206.69.
View Our Latest Stock 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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