Stanley Laman Group Ltd. Has $6.05 Million Position in Alphabet Inc. $GOOGL

Stanley Laman Group Ltd. lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 6.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 34,302 shares of the information services provider’s stock after selling 2,225 shares during the quarter. Alphabet comprises about 0.9% of Stanley Laman Group Ltd.’s investment portfolio, making the stock its 22nd largest position. Stanley Laman Group Ltd.’s holdings in Alphabet were worth $6,045,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of GOOGL. Guardian Wealth Management Inc. boosted its stake in Alphabet by 242.9% in the first quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider’s stock worth $26,000 after purchasing an additional 119 shares in the last quarter. von Borstel & Associates Inc. acquired a new position in shares of Alphabet during the first quarter valued at $28,000. IMA Advisory Services Inc. acquired a new position in shares of Alphabet during the first quarter valued at $28,000. NBZ Investment Advisors LLC lifted its stake in shares of Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of Alphabet during the first quarter valued at $39,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Down 0.7%

Shares of Alphabet stock opened at $267.47 on Wednesday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $270.73. The business has a 50-day moving average of $239.35 and a two-hundred day moving average of $197.43. The company has a market capitalization of $3.23 trillion, a P/E ratio of 28.48, a price-to-earnings-growth ratio of 1.82 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.

Analyst Ratings Changes

GOOGL has been the topic of several research reports. Piper Sandler upped their price target on Alphabet from $220.00 to $285.00 and gave the company an “overweight” rating in a research note on Thursday, September 18th. Citigroup upped their price target on Alphabet from $225.00 to $280.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Westpark Capital upped their price target on Alphabet from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Phillip Securities lowered Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Finally, Wolfe Research upped their price objective on Alphabet from $220.00 to $290.00 in a report on Tuesday, September 30th. Three analysts have rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $264.34.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $242.92, for a total value of $145,752.00. Following the completion of the sale, the director directly owned 5,116 shares in the company, valued at $1,242,778.72. This represents a 10.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,778 shares of the stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $250.05, for a total value of $694,638.90. Following the transaction, 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 SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 246,150 shares of company stock valued at $55,805,379. 11.55% of the stock is 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.