First Fiduciary Investment Counsel Inc. boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1,163.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,622 shares of the information services provider’s stock after acquiring an additional 26,356 shares during the quarter. First Fiduciary Investment Counsel Inc.’s holdings in Alphabet were worth $5,044,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of GOOGL. Nuveen LLC bought a new stake in Alphabet in the first quarter worth about $4,317,606,000. Vanguard Group Inc. raised its position in Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after acquiring an additional 14,307,345 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Alphabet by 11.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 43,865,520 shares of the information services provider’s stock worth $6,783,364,000 after acquiring an additional 4,473,901 shares in the last quarter. Amundi raised its holdings in Alphabet by 11.8% during the 1st quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock worth $5,034,992,000 after buying an additional 3,537,173 shares during the period. Finally, Evergreen Quality Fund GP Ltd. raised its holdings in Alphabet by 178.3% during the 1st quarter. Evergreen Quality Fund GP Ltd. now owns 4,003,900 shares of the information services provider’s stock worth $619,163,000 after buying an additional 2,565,400 shares during the period. 40.03% of the stock is currently owned by institutional investors.
Alphabet Trading Up 1.3%
Shares of NASDAQ GOOGL opened at $256.55 on Tuesday. The stock has a market cap of $3.10 trillion, a price-to-earnings ratio of 27.32, a PEG ratio of 1.71 and a beta of 1.00. The business has a 50 day simple moving average of $232.66 and a 200 day simple moving average of $192.92. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $257.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.
Analyst Upgrades and Downgrades
Several research firms have issued reports on GOOGL. Citizens Jmp boosted their price objective on Alphabet from $250.00 to $290.00 and gave the stock an “outperform” rating in a report on Friday, September 19th. JPMorgan Chase & Co. restated a “buy” rating on shares of Alphabet in a report on Tuesday, October 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of Alphabet in a report on Wednesday, October 8th. Hsbc Global Res upgraded Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Finally, JMP Securities upped their target price on Alphabet from $250.00 to $290.00 and gave the company a “market outperform” rating in a report on Friday, September 19th. Four analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $255.86.
View Our Latest Analysis on GOOGL
Insider Transactions at Alphabet
In other news, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at $4,236,785. The trade was a 13.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $249.50, for a total value of $8,108,750.00. Following the completion of the transaction, the chief executive officer owned 2,397,392 shares of the company’s stock, valued at $598,149,304. The trade was a 1.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 246,150 shares of company stock worth $55,805,379 over the last three months. 11.55% of the stock is currently owned by insiders.
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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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