Alphabet Inc. $GOOGL is Patten & Patten Inc. TN’s 7th Largest Position

Patten & Patten Inc. TN trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 214,618 shares of the information services provider’s stock after selling 5,158 shares during the period. Alphabet comprises 2.4% of Patten & Patten Inc. TN’s investment portfolio, making the stock its 7th biggest holding. Patten & Patten Inc. TN’s holdings in Alphabet were worth $37,822,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GOOGL. Nuveen LLC acquired a new position in Alphabet during the first quarter worth $4,317,606,000. Vanguard Group Inc. grew its holdings in Alphabet by 2.9% during 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 during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Alphabet by 11.4% during 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 during the period. Amundi grew its holdings in Alphabet by 11.8% during the first quarter. Amundi now owns 33,403,871 shares of the information services provider’s stock worth $5,034,992,000 after acquiring an additional 3,537,173 shares during the period. Finally, Evergreen Quality Fund GP Ltd. grew its holdings in Alphabet by 178.3% during the first quarter. Evergreen Quality Fund GP Ltd. now owns 4,003,900 shares of the information services provider’s stock worth $619,163,000 after acquiring an additional 2,565,400 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, Director Frances Arnold sold 103 shares of the firm’s stock in a transaction on Tuesday, September 30th. The stock was sold at an average price of $243.13, for a total transaction of $25,042.39. Following the sale, the director owned 17,284 shares in the company, valued at $4,202,258.92. This trade represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of the firm’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the sale, the chief accounting officer owned 14,516 shares in the company, valued at $3,629,725.80. This trade represents a 16.06% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 246,150 shares of company stock valued at $55,805,379. 11.55% of the stock is currently owned by insiders.

Alphabet Stock Up 2.7%

Shares of NASDAQ:GOOGL opened at $259.92 on Monday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $261.68. The stock’s fifty day simple moving average is $236.72 and its 200-day simple moving average is $195.85. The company has a market capitalization of $3.14 trillion, a P/E ratio of 27.68, a P/E/G ratio of 1.75 and a beta of 1.00.

Analyst Ratings Changes

Several equities analysts recently weighed in on GOOGL shares. BMO Capital Markets set a $294.00 price objective on Alphabet and gave the company an “outperform” rating in a research note on Thursday, October 9th. BNP Paribas Exane raised their price objective on Alphabet from $187.00 to $247.00 and gave the company a “neutral” rating in a research note on Tuesday, October 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research note on Friday. Stifel Nicolaus raised their price objective on Alphabet from $222.00 to $292.00 and gave the company a “buy” rating in a research note on Friday. Finally, Truist Financial raised their price objective on Alphabet from $225.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $263.55.

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.