Granite Investment Partners LLC Has $11.78 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Granite Investment Partners LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 2.6% in the 1st quarter, Holdings Channel reports. The firm owned 4,236 shares of the information services provider’s stock after selling 114 shares during the quarter. Granite Investment Partners LLC’s holdings in Alphabet were worth $11,782,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Bay Rivers Group raised its holdings in Alphabet by 5.9% in the 1st quarter. Bay Rivers Group now owns 1,418 shares of the information services provider’s stock worth $3,944,000 after acquiring an additional 79 shares during the period. Pinnacle Wealth Management Group Inc. raised its holdings in Alphabet by 2.6% in the 1st quarter. Pinnacle Wealth Management Group Inc. now owns 390 shares of the information services provider’s stock worth $1,085,000 after acquiring an additional 10 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in Alphabet by 4.8% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 40,211 shares of the information services provider’s stock worth $111,841,000 after acquiring an additional 1,857 shares during the period. Landmark Wealth Management LLC bought a new position in Alphabet in the 1st quarter worth $312,000. Finally, Pittenger & Anderson Inc. raised its holdings in Alphabet by 2.3% in the 1st quarter. Pittenger & Anderson Inc. now owns 11,591 shares of the information services provider’s stock worth $32,239,000 after acquiring an additional 263 shares during the period. Institutional investors own 41.70% of the company’s stock.

Insider Transactions at Alphabet

In other news, Director Ann Mather sold 20 shares of the stock in a transaction on Monday, June 27th. The shares were sold at an average price of $2,383.32, for a total transaction of $47,666.40. Following the completion of 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Ann Mather sold 20 shares of the stock in a transaction on Monday, June 27th. The shares were sold at an average price of $2,383.32, for a total transaction of $47,666.40. Following the completion of 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv acquired 255,647 shares of the stock in a transaction dated Tuesday, May 10th. The shares were bought at an average cost of $34.65 per share, with a total value of $8,858,168.55. Following the transaction, the insider now directly owns 479,695 shares of the company’s stock, valued at $16,621,431.75. The disclosure for this purchase can be found here. Insiders sold 6,039 shares of company stock valued at $12,649,005 over the last quarter. Corporate insiders own 11.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on GOOGL shares. JPMorgan Chase & Co. dropped their price objective on shares of Alphabet from $160.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, June 29th. JMP Securities dropped their price objective on shares of Alphabet from $165.00 to $160.00 and set a “market outperform” rating on the stock in a report on Thursday, June 30th. William Blair restated an “outperform” rating on shares of Alphabet in a report on Wednesday. Oppenheimer dropped their price objective on shares of Alphabet to $155.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Rosenblatt Securities reissued a “maintains” rating on shares of Alphabet in a research note on Wednesday. Five research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $148.80.

Alphabet Stock Up 1.0 %

Shares of NASDAQ:GOOGL opened at $114.22 on Friday. Alphabet Inc. has a 52 week low of $101.88 and a 52 week high of $151.55. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.85 and a current ratio of 2.87. The company has a market capitalization of $1.50 trillion, a PE ratio of 20.66, a PEG ratio of 1.12 and a beta of 1.10. The company has a 50 day moving average price of $154.31 and a two-hundred day moving average price of $138.90.

Alphabet (NASDAQ:GOOGLGet Rating) last issued its quarterly earnings data on Tuesday, July 26th. The information services provider reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.11). Alphabet had a return on equity of 30.18% and a net margin of 27.57%. During the same quarter in the prior year, the company posted $27.26 EPS. Analysts forecast that Alphabet Inc. will post 5.37 earnings per share for the current 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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