Bender Robert & Associates reduced its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,615 shares of the information services provider’s stock after selling 190 shares during the period. Alphabet accounts for approximately 2.3% of Bender Robert & Associates’ holdings, making the stock its 15th largest holding. Bender Robert & Associates’ holdings in Alphabet were worth $10,330,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Missouri Trust & Investment Co increased its holdings in Alphabet by 0.3% in the second quarter. Missouri Trust & Investment Co now owns 16,916 shares of the information services provider’s stock valued at $2,981,000 after purchasing an additional 55 shares during the last quarter. AM Investment Strategies LLC increased its holdings in Alphabet by 0.9% in the second quarter. AM Investment Strategies LLC now owns 6,477 shares of the information services provider’s stock valued at $1,141,000 after purchasing an additional 57 shares during the last quarter. Bfsg LLC increased its holdings in Alphabet by 0.6% in the second quarter. Bfsg LLC now owns 10,428 shares of the information services provider’s stock valued at $1,838,000 after purchasing an additional 59 shares during the last quarter. Financial Council LLC increased its holdings in Alphabet by 1.0% in the second quarter. Financial Council LLC now owns 5,800 shares of the information services provider’s stock valued at $1,022,000 after purchasing an additional 60 shares during the last quarter. Finally, Enzi Wealth grew its stake in Alphabet by 2.5% in the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider’s stock valued at $408,000 after acquiring an additional 62 shares during the period. Institutional investors own 40.03% of the company’s stock.
Alphabet Stock Performance
GOOGL opened at $256.55 on Tuesday. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $257.33. The firm has a market capitalization of $3.10 trillion, a PE ratio of 27.32, a PEG ratio of 1.71 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The business’s 50-day simple moving average is $232.66 and its 200 day simple moving average is $192.92.
Analyst Upgrades and Downgrades
GOOGL has been the subject of a number of research analyst reports. UBS Group boosted their target price on Alphabet from $237.00 to $255.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Bank of America boosted their target price on Alphabet from $252.00 to $280.00 and gave the company a “buy” rating in a research note on Monday. BNP Paribas cut Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Wolfe Research boosted their target price on Alphabet from $220.00 to $290.00 in a research note on Tuesday, September 30th. Finally, Jefferies Financial Group boosted their target price on Alphabet from $230.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Four research analysts have rated the stock with a Strong Buy rating, thirty-four have assigned a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $255.86.
Read Our Latest Report on Alphabet
Insider Buying and Selling at Alphabet
In other Alphabet news, Director Frances Arnold sold 103 shares of the company’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total value of $25,042.39. Following the sale, the director owned 17,284 shares in the company, valued at $4,202,258.92. This represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $250.05, for a total value of $694,638.90. Following the completion of the sale, the chief accounting officer owned 14,516 shares in the company, valued at $3,629,725.80. This represents a 16.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 246,150 shares of company stock valued at $55,805,379 in the last ninety days. Insiders own 11.55% of the company’s stock.
Alphabet 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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