Valley National Advisers Inc. increased its position in Alphabet Inc. (NASDAQ:GOOG) by 155.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 189 shares of the information services provider’s stock after purchasing an additional 115 shares during the period. Valley National Advisers Inc.’s holdings in Alphabet were worth $505,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. Strategic Asset Management LLC acquired a new stake in shares of Alphabet during the 3rd quarter valued at $28,000. True Link Financial Advisors LLC acquired a new stake in shares of Alphabet during the 2nd quarter valued at $33,000. Guidance Point Advisors LLC acquired a new stake in shares of Alphabet during the 3rd quarter valued at $34,000. Syverson Strege & Co acquired a new stake in shares of Alphabet during the 3rd quarter valued at $51,000. Finally, Running Point Capital Advisors LLC acquired a new stake in shares of Alphabet during the 2nd quarter valued at $60,000. 30.66% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:GOOG traded up $21.75 on Friday, reaching $2,804.37. The stock had a trading volume of 21,271 shares, compared to its average volume of 1,123,908. The company has a market capitalization of $1.86 trillion, a P/E ratio of 26.49, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. Alphabet Inc. has a 1-year low of $1,721.55 and a 1-year high of $3,037.00. The company has a quick ratio of 2.96, a current ratio of 2.98 and a debt-to-equity ratio of 0.06. The stock has a fifty day moving average price of $2,908.10 and a 200-day moving average price of $2,816.68.
A number of equities research analysts have issued reports on the stock. Piper Sandler lifted their target price on shares of Alphabet from $3,034.00 to $3,150.00 and gave the company an “overweight” rating in a research note on Wednesday, October 27th. Royal Bank of Canada began coverage on shares of Alphabet in a research note on Friday, October 1st. They issued an “outperform” rating and a $3,400.00 price objective for the company. Zacks Investment Research lowered shares of Alphabet from a “buy” rating to a “hold” rating in a research note on Monday, January 3rd. Raymond James lifted their price objective on shares of Alphabet from $3,200.00 to $3,400.00 and gave the company an “outperform” rating in a research note on Wednesday, October 27th. They noted that the move was a valuation call. Finally, Oppenheimer lifted their price objective on shares of Alphabet from $3,000.00 to $3,500.00 and gave the company an “outperform” rating in a research note on Wednesday, October 27th. Three equities research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $3,210.45.
In other news, major shareholder Capitalg 2014 Lp sold 2,542 shares of the company’s stock in a transaction that occurred on Monday, November 22nd. The shares were sold at an average price of $37.91, for a total transaction of $96,367.22. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 20th. The stock was sold at an average price of $2,875.05, for a total transaction of $8,625,150.00. The disclosure for this sale can be found here. Insiders have sold 198,473 shares of company stock worth $436,640,791 over the last quarter. 12.99% of the stock is owned by company insiders.
Alphabet, Inc is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as ads, Android, Chrome, hardware, Google Cloud, Google Maps, Google Play, Search, and YouTube.
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