Alphabet Inc. (NASDAQ:GOOGL – Get Free Report)’s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $204.13 and last traded at $204.67, with a volume of 2635669 shares. The stock had previously closed at $200.87.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on the company. Loop Capital increased their price objective on Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Sanford C. Bernstein upped their target price on Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Roth Mkm lifted their price target on Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Wolfe Research boosted their price objective on Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Finally, JMP Securities reiterated a “market perform” rating on shares of Alphabet in a report on Monday, January 27th. Nine research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $211.00.
Check Out Our Latest Research Report on Alphabet
Alphabet Stock Performance
Insider Buying and Selling
In other news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the transaction, the chief accounting officer now owns 23,515 shares in the company, valued at approximately $4,007,191.15. The trade was a 5.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction dated 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 owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. The trade was a 11.61 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 121,630 shares of company stock valued at $22,258,133. Company insiders own 11.55% of the company’s stock.
Institutional Trading of Alphabet
Several institutional investors have recently modified their holdings of the company. Summit Trail Advisors LLC boosted its stake in shares of Alphabet by 12.1% in the 2nd quarter. Summit Trail Advisors LLC now owns 147,414 shares of the information services provider’s stock valued at $26,852,000 after purchasing an additional 15,940 shares in the last quarter. TPG Advisors LLC bought a new position in Alphabet during the 2nd quarter valued at about $563,000. Asset Management Group Inc. boosted its position in Alphabet by 13.4% in the second quarter. Asset Management Group Inc. now owns 12,670 shares of the information services provider’s stock valued at $2,308,000 after buying an additional 1,499 shares in the last quarter. Arista Wealth Management LLC bought a new stake in Alphabet during the second quarter worth about $665,000. Finally, Tcwp LLC increased its holdings in shares of Alphabet by 1.7% during the second quarter. Tcwp LLC now owns 4,191 shares of the information services provider’s stock worth $763,000 after buying an additional 69 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.
About Alphabet
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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