Tiff Advisory Services Inc. decreased its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 43.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,581 shares of the information services provider’s stock after selling 48,556 shares during the period. Alphabet accounts for 1.8% of Tiff Advisory Services Inc.’s investment portfolio, making the stock its 12th largest holding. Tiff Advisory Services Inc.’s holdings in Alphabet were worth $7,611,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently modified their holdings of GOOGL. Live Oak Investment Partners purchased a new stake in Alphabet in the 4th quarter valued at $26,000. Armor Investment Advisors LLC purchased a new position in shares of Alphabet during the second quarter worth about $28,000. CarsonAllaria Wealth Management Ltd. increased its position in Alphabet by 136.7% in the 2nd quarter. CarsonAllaria Wealth Management Ltd. now owns 284 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 164 shares during the period. Sanctuary Wealth Management L.L.C. acquired a new stake in Alphabet during the 4th quarter worth approximately $34,000. Finally, Turim 21 Investimentos Ltda. purchased a new position in shares of Alphabet in the 3rd quarter valued at approximately $38,000. 35.08% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms have recently commented on GOOGL. StockNews.com cut Alphabet from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 14th. JPMorgan Chase & Co. raised their target price on shares of Alphabet from $121.00 to $150.00 in a research note on Wednesday, July 26th. JMP Securities boosted their price target on shares of Alphabet from $138.00 to $140.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 25th. Rosenblatt Securities raised their price objective on shares of Alphabet from $163.00 to $174.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Finally, Jefferies Financial Group boosted their target price on Alphabet from $150.00 to $165.00 in a research report on Wednesday, July 26th. Five equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.
Alphabet Stock Up 0.7 %
GOOGL opened at $136.25 on Tuesday. The stock has a market capitalization of $1.71 trillion, a price-to-earnings ratio of 26.15, a price-to-earnings-growth ratio of 1.51 and a beta of 1.05. Alphabet Inc. has a 12 month low of $84.86 and a 12 month high of $141.22. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.04 and a quick ratio of 2.01. The business has a 50-day moving average of $133.42 and a two-hundred day moving average of $127.88.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its earnings results on Tuesday, October 24th. The information services provider reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.10. The firm had revenue of $64.05 billion during the quarter, compared to the consensus estimate of $63.13 billion. Alphabet had a net margin of 22.46% and a return on equity of 25.24%. On average, research analysts expect that Alphabet Inc. will post 5.74 earnings per share for the current year.
Insider Buying and Selling at Alphabet
In other news, SVP Prabhakar Raghavan sold 16,083 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $133.82, for a total value of $2,152,227.06. Following the transaction, the senior vice president now directly owns 75,621 shares in the company, valued at approximately $10,119,602.22. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Alphabet news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $132.92, for a total value of $26,584.00. Following the transaction, the director now directly owns 7,184 shares of the company’s stock, valued at $954,897.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 16,083 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $133.82, for a total value of $2,152,227.06. Following the transaction, the senior vice president now owns 75,621 shares in the company, valued at approximately $10,119,602.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 176,576 shares of company stock valued at $23,425,367. Company insiders own 0.88% of the company’s stock.
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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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