Perkins Coie Trust Co increased its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 4.7% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 2,831 shares of the information services provider’s stock after buying an additional 126 shares during the quarter. Alphabet comprises approximately 2.2% of Perkins Coie Trust Co’s portfolio, making the stock its 8th biggest position. Perkins Coie Trust Co’s holdings in Alphabet were worth $6,169,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Dravo Bay LLC bought a new position in shares of Alphabet during the 1st quarter valued at approximately $28,000. Financial Enhancement Group LLC bought a new position in shares of Alphabet during the 1st quarter valued at approximately $31,000. Wealthgate Family Office LLC bought a new position in shares of Alphabet during the 4th quarter valued at approximately $32,000. Verity Asset Management Inc. grew its stake in shares of Alphabet by 536,206.4% during the 1st quarter. Verity Asset Management Inc. now owns 589,937 shares of the information services provider’s stock valued at $39,000 after acquiring an additional 589,827 shares during the period. Finally, Advocacy Wealth Management Services LLC grew its stake in shares of Alphabet by 72.7% during the 2nd quarter. Advocacy Wealth Management Services LLC now owns 19 shares of the information services provider’s stock valued at $41,000 after acquiring an additional 8 shares during the period. 1.88% of the stock is currently owned by institutional investors.
Alphabet Stock Performance
Shares of Alphabet stock opened at $102.80 on Monday. The firm has a market cap of $1.34 trillion, a P/E ratio of 19.13, a P/E/G ratio of 1.66 and a beta of 1.09. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt-to-equity ratio of 0.06. Alphabet Inc. has a 12 month low of $100.94 and a 12 month high of $151.55. The stock’s fifty day moving average price is $112.93 and its 200-day moving average price is $118.84.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the company. Rosenblatt Securities boosted their price objective on Alphabet from $154.00 to $156.00 and gave the company a “buy” rating in a research note on Wednesday, September 7th. Morgan Stanley boosted their price target on Alphabet from $140.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, July 27th. Oppenheimer lowered their price target on Alphabet to $155.00 and set an “outperform” rating on the stock in a report on Wednesday, July 27th. Itaú Unibanco initiated coverage on Alphabet in a research report on Tuesday, July 26th. They set a “market perform” rating and a $113.00 target price for the company. Finally, KeyCorp lowered their target price on Alphabet from $153.00 to $125.00 and set an “overweight” rating for the company in a research report on Tuesday, July 26th. Five research analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $147.41.
Insider Activity at Alphabet
In related news, Director Ann Mather sold 20 shares of the firm’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 sale, the director now owns 565 shares of the company’s stock, valued at $1,346,575.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 1,109 shares of the firm’s stock in a transaction dated 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 $3,484,117.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ann Mather sold 20 shares of the firm’s stock in a transaction dated Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total value of $47,666.40. Following the completion of the sale, the director now directly 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 have sold a total of 44,536 shares of company stock valued at $15,729,998 over the last quarter. 11.44% of the stock is owned by corporate insiders.
Alphabet Company Profile
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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