Consolidated Capital Management LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 19.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 48,783 shares of the information services provider’s stock after selling 12,015 shares during the period. Alphabet accounts for approximately 3.5% of Consolidated Capital Management LLC’s holdings, making the stock its 11th biggest position. Consolidated Capital Management LLC’s holdings in Alphabet were worth $8,091,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Alphabet by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 497,874,324 shares of the information services provider’s stock worth $75,144,172,000 after acquiring an additional 4,064,073 shares during the period. Capital Research Global Investors grew its position in Alphabet by 14.4% in the 1st quarter. Capital Research Global Investors now owns 57,803,291 shares of the information services provider’s stock worth $8,724,251,000 after purchasing an additional 7,275,757 shares during the last quarter. Bank of New York Mellon Corp grew its position in Alphabet by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 49,472,478 shares of the information services provider’s stock worth $9,011,412,000 after purchasing an additional 238,403 shares during the last quarter. Capital World Investors increased its stake in shares of Alphabet by 1.7% in the first quarter. Capital World Investors now owns 35,412,299 shares of the information services provider’s stock valued at $5,344,778,000 after purchasing an additional 597,756 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of Alphabet by 1.8% during the second quarter. American Century Companies Inc. now owns 23,465,190 shares of the information services provider’s stock worth $4,274,184,000 after buying an additional 418,204 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.
Alphabet Trading Up 1.6 %
Shares of NASDAQ GOOGL opened at $165.27 on Friday. The firm has a market capitalization of $2.03 trillion, a PE ratio of 23.71, a PEG ratio of 1.27 and a beta of 1.04. Alphabet Inc. has a one year low of $120.21 and a one year high of $191.75. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The business has a 50-day moving average price of $161.95 and a two-hundred day moving average price of $168.51.
Insider Buying and Selling
Analyst Upgrades and Downgrades
Several research firms recently commented on GOOGL. Morgan Stanley lowered their target price on Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 3rd. Cantor Fitzgerald restated a “neutral” rating and set a $190.00 price objective on shares of Alphabet in a research note on Monday, October 7th. Jefferies Financial Group upped their price objective on shares of Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. Citigroup raised their target price on shares of Alphabet from $190.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Wolfe Research started coverage on shares of Alphabet in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $201.76.
View Our Latest Stock Report on Alphabet
Alphabet 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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