Capital International Investors raised its stake in Alphabet Inc (NASDAQ:GOOG) by 0.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,337,057 shares of the information services provider’s stock after purchasing an additional 22,290 shares during the period. Alphabet comprises 2.0% of Capital International Investors’ investment portfolio, making the stock its 8th biggest position. Capital International Investors owned approximately 0.63% of Alphabet worth $5,798,732,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Lighthouse Financial Advisors Inc. acquired a new position in Alphabet during the fourth quarter worth approximately $25,000. OLD Second National Bank of Aurora increased its position in Alphabet by 50.0% during the fourth quarter. OLD Second National Bank of Aurora now owns 30 shares of the information services provider’s stock worth $40,000 after buying an additional 10 shares during the period. Wealthcare Capital Management LLC increased its position in Alphabet by 300.0% during the fourth quarter. Wealthcare Capital Management LLC now owns 32 shares of the information services provider’s stock worth $43,000 after buying an additional 24 shares during the period. Cedar Mountain Advisors LLC acquired a new position in Alphabet during the fourth quarter worth approximately $43,000. Finally, LFA Lugano Financial Advisors SA acquired a new position in Alphabet during the fourth quarter worth approximately $47,000. 33.53% of the stock is currently owned by institutional investors.
Shares of GOOG stock traded up $40.19 during midday trading on Thursday, hitting $1,142.68. The company had a trading volume of 1,522,596 shares, compared to its average volume of 3,222,223. The company’s 50 day simple moving average is $1,342.87 and its 200 day simple moving average is $1,321.06. Alphabet Inc has a 52-week low of $1,013.54 and a 52-week high of $1,532.11. The stock has a market cap of $779.70 billion, a price-to-earnings ratio of 23.23, a PEG ratio of 1.36 and a beta of 1.02. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.37 and a quick ratio of 3.35.
Several research analysts have commented on GOOG shares. Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a research report on Thursday. Citigroup lifted their price target on Alphabet from $1,500.00 to $1,700.00 and gave the stock a “positive” rating in a research report on Friday, February 7th. Oppenheimer lifted their price target on Alphabet from $1,530.00 to $1,620.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 4th. DZ Bank reaffirmed a “buy” rating on shares of Alphabet in a research report on Tuesday, February 4th. Finally, Raymond James reaffirmed an “outperform” rating and set a $1,580.00 price target (up previously from $1,475.00) on shares of Alphabet in a research report on Tuesday, February 4th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $1,581.81.
In related news, SVP David C. Drummond sold 28,429 shares of Alphabet stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $1,358.81, for a total value of $38,629,609.49. Following the sale, the senior vice president now directly owns 800 shares in the company, valued at $1,087,048. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Capitalg Lp sold 2,085,172 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $52.59, for a total value of $109,659,195.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,204,053 shares of company stock worth $335,936,779. Company insiders own 12.99% of the company’s stock.
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.
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