Tweedy Browne Co LLC Sells 351,648 Shares of Alphabet Inc. $GOOGL

Tweedy Browne Co LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 52.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 321,299 shares of the information services provider’s stock after selling 351,648 shares during the period. Alphabet makes up approximately 5.3% of Tweedy Browne Co LLC’s investment portfolio, making the stock its 5th largest holding. Tweedy Browne Co LLC’s holdings in Alphabet were worth $56,623,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Alphabet by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider’s stock worth $78,839,544,000 after buying an additional 14,307,345 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of 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. Invesco Ltd. raised its position in shares of Alphabet by 1.4% during the first quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider’s stock worth $6,749,806,000 after purchasing an additional 593,345 shares during the period. Deutsche Bank AG lifted its holdings in shares of Alphabet by 1.9% during the 1st quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider’s stock valued at $6,153,481,000 after purchasing an additional 727,335 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Alphabet by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 38,556,577 shares of the information services provider’s stock valued at $5,962,389,000 after purchasing an additional 104,859 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Up 3.6%

GOOGL stock opened at $269.27 on Tuesday. Alphabet Inc. has a one year low of $140.53 and a one year high of $270.14. The stock has a market cap of $3.26 trillion, a price-to-earnings ratio of 28.68, a price-to-earnings-growth ratio of 1.75 and a beta of 1.00. The company has a fifty day moving average price of $238.03 and a two-hundred day moving average price of $196.63. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of research analyst reports. Robert W. Baird raised their price objective on shares of Alphabet from $215.00 to $275.00 and gave the stock an “outperform” rating in a report on Monday, September 22nd. Canaccord Genuity Group boosted their price target on Alphabet from $230.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, September 4th. Guggenheim reaffirmed a “buy” rating and set a $280.00 price objective (up from $210.00) on shares of Alphabet in a research report on Friday, October 17th. Wells Fargo & Company set a $236.00 target price on Alphabet and gave the company an “equal weight” rating in a research report on Tuesday, October 7th. 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 investment 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $264.34.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 2,778 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $3,629,725.80. The trade was a 16.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 600 shares of the company’s stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $242.92, for a total transaction of $145,752.00. Following the completion of the transaction, the director owned 5,116 shares in the company, valued at $1,242,778.72. This trade represents a 10.50% 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. 11.64% of the stock is currently owned by corporate 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.