Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by abrdn plc

abrdn plc trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 5.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 343,867 shares of the information services provider’s stock after selling 18,630 shares during the period. Alphabet comprises about 2.5% of abrdn plc’s holdings, making the stock its 4th biggest position. abrdn plc owned about 0.05% of Alphabet worth $970,007,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Tuttle Capital Management LLC acquired a new position in shares of Alphabet during the 1st quarter worth approximately $248,000. Lyell Wealth Management LP raised its position in shares of Alphabet by 0.9% during the 1st quarter. Lyell Wealth Management LP now owns 7,678 shares of the information services provider’s stock worth $21,355,000 after purchasing an additional 72 shares during the last quarter. Brooks Moore & Associates Inc. raised its position in shares of Alphabet by 3.1% during the 1st quarter. Brooks Moore & Associates Inc. now owns 1,340 shares of the information services provider’s stock worth $3,727,000 after purchasing an additional 40 shares during the last quarter. Hohimer Wealth Management LLC raised its position in shares of Alphabet by 5.5% during the 1st quarter. Hohimer Wealth Management LLC now owns 2,500 shares of the information services provider’s stock worth $6,953,000 after purchasing an additional 130 shares during the last quarter. Finally, Carter Financial Group INC. acquired a new position in shares of Alphabet during the 1st quarter worth approximately $381,000. 41.70% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $115.13 on Wednesday. The company has a quick ratio of 2.78, a current ratio of 2.81 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a fifty-two week low of $101.88 and a fifty-two week high of $151.55. The firm has a 50-day simple moving average of $154.71 and a 200 day simple moving average of $138.38. The company has a market cap of $1.52 trillion, a PE ratio of 21.42, a P/E/G ratio of 1.88 and a beta of 1.08.

Alphabet (NASDAQ:GOOGLGet Rating) last announced its quarterly earnings data on Tuesday, July 26th. The information services provider reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.11). Alphabet had a net margin of 25.89% and a return on equity of 28.65%. During the same quarter in the prior year, the company posted $27.26 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 5.22 EPS for the current year.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several research reports. Canaccord Genuity Group cut their price objective on Alphabet from $175.00 to $165.00 and set a “buy” rating for the company in a research report on Wednesday, April 27th. BMO Capital Markets lowered their target price on shares of Alphabet from $165.00 to $150.00 and set an “outperform” rating for the company in a research note on Wednesday, April 27th. Oppenheimer lowered their target price on shares of Alphabet to $155.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. Truist Financial lowered their target price on shares of Alphabet from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, July 27th. Finally, Rosenblatt Securities reaffirmed a “maintains” rating on shares of Alphabet in a research note on Wednesday, July 27th. Five investment analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $147.29.

Insider Activity at Alphabet

In other Alphabet news, Director Ann Mather sold 20 shares of the company’s stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $2,383.32, for a total value of $47,666.40. Following the completion of the transaction, the director now owns 565 shares in the company, valued at approximately $1,346,575.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, major shareholder 2021 Gp L.L.C. Gv bought 255,647 shares of the firm’s stock in a transaction on Tuesday, May 10th. The stock was purchased at an average price of $34.65 per share, for a total transaction of $8,858,168.55. Following the transaction, the insider now owns 479,695 shares in the company, valued at $16,621,431.75. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ann Mather sold 20 shares of the company’s stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total transaction of $47,666.40. Following the completion of the transaction, the director now owns 565 shares of the company’s stock, valued at approximately $1,346,575.80. The disclosure for this sale can be found here. Insiders sold a total of 6,737 shares of company stock valued at $11,549,847 in the last quarter. Insiders own 11.44% of the company’s stock.

Alphabet Profile

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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