Dock Street Asset Management Inc. raised its stake in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 0.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 235,444 shares of the information services provider’s stock after acquiring an additional 979 shares during the period. Alphabet makes up approximately 5.2% of Dock Street Asset Management Inc.’s holdings, making the stock its 7th largest holding. Dock Street Asset Management Inc.’s holdings in Alphabet were worth $33,181,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Totem Point Management LLC lifted its holdings in shares of Alphabet by 22.0% during the 1st quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock worth $8,857,000 after acquiring an additional 571 shares during the period. Somerville Kurt F lifted its holdings in shares of Alphabet by 10.3% during the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after acquiring an additional 11 shares during the period. BCK Partners Inc. bought a new position in shares of Alphabet during the 1st quarter worth about $2,564,000. Hall Capital Management Co. Inc. lifted its holdings in shares of Alphabet by 53.2% during the 1st quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock worth $402,000 after acquiring an additional 50 shares during the period. Finally, Fairfield Bush & CO. lifted its holdings in shares of Alphabet by 6.8% during the 1st quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock worth $9,412,000 after acquiring an additional 214 shares during the period. 27.26% of the stock is owned by institutional investors.
Alphabet Stock Down 1.1 %
NASDAQ GOOG opened at $155.72 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. Alphabet Inc. has a 52 week low of $103.27 and a 52 week high of $161.70. The stock has a fifty day moving average of $147.46 and a 200-day moving average of $141.87. The stock has a market capitalization of $1.94 trillion, a P/E ratio of 26.85, a price-to-earnings-growth ratio of 1.45 and a beta of 1.05.
Analyst Upgrades and Downgrades
GOOG has been the subject of a number of analyst reports. Susquehanna lifted their price objective on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Raymond James boosted their price target on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Morgan Stanley reissued an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Oppenheimer lifted their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Finally, Stifel Nicolaus lifted their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, Alphabet presently has an average rating of “Buy” and an average target price of $159.86.
View Our Latest Research Report on GOOG
Insider Buying and Selling
In related news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the sale, the director now directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the transaction, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the transaction, the chief executive officer now owns 2,303,011 shares in the company, valued at $362,516,961.51. The disclosure for this sale can be found here. Insiders sold a total of 251,339 shares of company stock valued at $36,377,482 over the last three months. Company insiders own 12.99% of the company’s stock.
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.
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