MV Capital Management Inc. Sells 3,568 Shares of Alphabet Inc. (NASDAQ:GOOGL)

MV Capital Management Inc. cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 9.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,578 shares of the information services provider’s stock after selling 3,568 shares during the quarter. MV Capital Management Inc.’s holdings in Alphabet were worth $3,900,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in GOOGL. Vanguard Group Inc. grew its position in shares of Alphabet by 1,919.4% in the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after buying an additional 453,413,389 shares during the last quarter. State Street Corp raised its position in shares of Alphabet by 1,900.6% in the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after acquiring an additional 206,300,042 shares in the last quarter. Moneta Group Investment Advisors LLC increased its position in Alphabet by 111,197.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock valued at $15,036,178,000 after buying an additional 170,267,122 shares in the last quarter. Geode Capital Management LLC increased its position in Alphabet by 1.3% during the 1st quarter. Geode Capital Management LLC now owns 118,576,618 shares of the information services provider’s stock valued at $12,271,705,000 after buying an additional 1,499,107 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Alphabet by 1,759.2% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock valued at $11,106,502,000 after buying an additional 109,870,525 shares in the last quarter. 35.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 200 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $131.14, for a total transaction of $26,228.00. Following the completion of the sale, the director now owns 5,340 shares in the company, valued at approximately $700,287.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director John L. Hennessy sold 200 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $131.14, for a total transaction of $26,228.00. Following the completion of the sale, the director now owns 5,340 shares in the company, valued at approximately $700,287.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ann Mather sold 220 shares of the firm’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $130.14, for a total value of $28,630.80. Following the completion of the transaction, the director now owns 4,818 shares of the company’s stock, valued at approximately $627,014.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 101,576 shares of company stock valued at $13,593,261. 0.88% of the stock is currently owned by corporate insiders.

Alphabet Stock Up 1.3 %

Shares of NASDAQ GOOGL opened at $129.10 on Monday. The company has a current ratio of 2.04, a quick ratio of 2.01 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $1.63 trillion, a PE ratio of 24.78, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05. The stock’s fifty day simple moving average is $133.89 and its two-hundred day simple moving average is $125.59. Alphabet Inc. has a 12-month low of $83.71 and a 12-month high of $141.22.

Analysts Set New Price Targets

A number of analysts have commented on GOOGL shares. Needham & Company LLC lifted their target price on Alphabet from $140.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Loop Capital lifted their target price on Alphabet from $125.00 to $140.00 and gave the company a “hold” rating in a research report on Friday, August 18th. JPMorgan Chase & Co. boosted their price objective on Alphabet from $121.00 to $150.00 in a research report on Wednesday, July 26th. StockNews.com began coverage on Alphabet in a research report on Thursday, October 5th. They issued a “buy” rating on the stock. Finally, Robert W. Baird lifted their target price on Alphabet from $123.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, July 21st. Five investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $146.91.

Alphabet Company Profile

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.