Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 5.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 30,373 shares of the information services provider’s stock after selling 1,761 shares during the quarter. Alphabet makes up approximately 2.0% of Shell Asset Management Co.’s investment portfolio, making the stock its 5th largest holding. Shell Asset Management Co.’s holdings in Alphabet were worth $84,478,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its holdings in shares of Alphabet by 6.1% during the 4th quarter. International Assets Investment Management LLC now owns 3,356 shares of the information services provider’s stock worth $9,717,000 after buying an additional 192 shares in the last quarter. LSV Asset Management lifted its holdings in shares of Alphabet by 1.4% in the 4th quarter. LSV Asset Management now owns 720 shares of the information services provider’s stock worth $2,086,000 after purchasing an additional 10 shares in the last quarter. Peregrine Capital Management LLC lifted its holdings in shares of Alphabet by 9.1% in the 4th quarter. Peregrine Capital Management LLC now owns 34,990 shares of the information services provider’s stock worth $101,367,000 after purchasing an additional 2,909 shares in the last quarter. DMG Group LLC bought a new position in shares of Alphabet in the 4th quarter worth $2,242,000. Finally, Yousif Capital Management LLC bought a new position in shares of Alphabet in the 4th quarter worth $129,130,000. Institutional investors and hedge funds own 41.70% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of recent research reports. BMO Capital Markets cut their target price on Alphabet from $165.00 to $150.00 and set an “outperform” rating on the stock in a report on Wednesday, April 27th. Guggenheim cut their target price on Alphabet to $130.00 and set an “outperform” rating on the stock in a report on Wednesday, July 27th. Susquehanna cut their target price on Alphabet from $187.50 to $150.00 and set a “positive” rating on the stock in a report on Wednesday, July 27th. Canaccord Genuity Group cut their target price on Alphabet from $175.00 to $165.00 and set a “buy” rating on the stock in a report on Wednesday, April 27th. Finally, Wedbush lowered their price target on Alphabet from $190.00 to $155.65 in a research report on Wednesday, April 27th. Five equities research 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.29.

Insider Activity

In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv purchased 255,647 shares of the company’s stock in a transaction dated 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 approximately $16,621,431.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv purchased 255,647 shares of the company’s stock in a transaction dated 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 approximately $16,621,431.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 1,109 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total value of $2,402,914.66. Following the completion of the sale, the senior vice president now owns 1,608 shares of the company’s stock, valued at approximately $3,484,117.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,737 shares of company stock worth $11,549,847. 11.44% of the stock is currently owned by insiders.

Alphabet Stock Up 0.2 %

Shares of NASDAQ GOOGL opened at $115.13 on Wednesday. The company has a market cap of $1.52 trillion, a P/E ratio of 21.42, a P/E/G ratio of 1.88 and a beta of 1.08. The company has a quick ratio of 2.78, a current ratio of 2.81 and a debt-to-equity ratio of 0.06. The business has a 50-day simple moving average of $154.71 and a two-hundred day simple moving average of $138.38. Alphabet Inc. has a 52 week low of $101.88 and a 52 week high of $151.55.

Alphabet (NASDAQ:GOOGLGet Rating) last issued its quarterly earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share (EPS) 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 period in the prior year, the company posted $27.26 EPS. Research analysts anticipate that Alphabet Inc. will post 5.22 earnings per share for the current fiscal year.

About Alphabet

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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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