Embree Financial Group trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 4.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,857 shares of the information services provider’s stock after selling 2,936 shares during the quarter. Alphabet comprises approximately 1.9% of Embree Financial Group’s portfolio, making the stock its 10th biggest position. Embree Financial Group’s holdings in Alphabet were worth $10,425,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. Christopher J. Hasenberg Inc lifted its stake in Alphabet by 75.0% in the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after buying an additional 60 shares during the last quarter. Tributary Capital Management LLC purchased a new stake in Alphabet in the first quarter valued at approximately $30,000. Kings Path Partners LLC purchased a new stake in Alphabet in the second quarter valued at approximately $36,000. Denver PWM LLC purchased a new stake in Alphabet in the second quarter valued at approximately $41,000. Finally, CarsonAllaria Wealth Management Ltd. lifted its stake in Alphabet by 59.2% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock valued at $44,000 after buying an additional 109 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on GOOGL shares. Citigroup upped their price target on Alphabet from $190.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. UBS Group upped their price target on Alphabet from $200.00 to $204.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 24th. Royal Bank of Canada upped their price target on Alphabet from $200.00 to $204.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. upped their price target on Alphabet from $200.00 to $208.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, Wells Fargo & Company cut their price target on Alphabet from $190.00 to $182.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 2nd. Seven analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $201.76.
Alphabet Stock Performance
NASDAQ GOOGL opened at $169.68 on Wednesday. The business’s 50-day moving average price is $162.00 and its 200 day moving average price is $168.74. Alphabet Inc. has a twelve month low of $122.68 and a twelve month high of $191.75. The company has a market capitalization of $2.10 trillion, a PE ratio of 26.02, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.
Insider Transactions at Alphabet
In other news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total value of $5,570,188.20. Following the transaction, the senior vice president now directly owns 312,210 shares in the company, valued at $50,765,346. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the sale, the chief executive officer now owns 2,106,806 shares in the company, valued at approximately $350,361,837.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 220,426 shares of company stock worth $35,993,340 in the last three months. 11.55% of the stock is currently owned by company insiders.
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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