Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by DMC Group LLC

DMC Group LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,090 shares of the information services provider’s stock after selling 1,247 shares during the quarter. Alphabet comprises approximately 1.8% of DMC Group LLC’s investment portfolio, making the stock its 8th biggest holding. DMC Group LLC’s holdings in Alphabet were worth $2,171,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. SG Americas Securities LLC boosted its stake in Alphabet by 587.4% during the 3rd quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock worth $1,772,991,000 after acquiring an additional 9,135,056 shares during the last quarter. Capital Research Global Investors boosted its stake in Alphabet by 14.4% during 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 acquiring an additional 7,275,757 shares during the last quarter. Wulff Hansen & CO. boosted its stake in Alphabet by 18,810.2% during the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock worth $807,700,000 after acquiring an additional 4,410,811 shares during the last quarter. PineStone Asset Management Inc. boosted its stake in Alphabet by 143.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 7,072,197 shares of the information services provider’s stock worth $1,288,201,000 after acquiring an additional 4,170,229 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Alphabet by 0.8% during 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 last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director John L. Hennessy sold 700 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $165.00, for a total transaction of $115,500.00. Following the transaction, the director now directly owns 29,324 shares of the company’s stock, valued at approximately $4,838,460. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at approximately $5,264,112. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 220,426 shares of company stock valued at $35,993,340 over the last ninety days. 11.55% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of research reports. Morgan Stanley cut their price target on shares of Alphabet from $205.00 to $190.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. The Goldman Sachs Group reduced their price target on shares of Alphabet from $217.00 to $208.00 and set a “buy” rating for the company in a report on Monday, October 14th. Truist Financial upped their price target on shares of Alphabet from $196.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Wolfe Research assumed coverage on shares of Alphabet in a report on Tuesday, July 16th. They issued an “outperform” rating and a $240.00 price target for the company. Finally, JMP Securities reiterated a “market outperform” rating and issued a $200.00 price target on shares of Alphabet in a report on Wednesday, September 25th. Seven analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $201.76.

Alphabet Price Performance

Shares of GOOGL opened at $169.68 on Wednesday. The firm has a market capitalization of $2.10 trillion, a PE ratio of 26.02, a PEG ratio of 1.27 and a beta of 1.04. The company’s 50-day moving average is $162.00 and its 200-day moving average is $168.74. Alphabet Inc. has a fifty-two week low of $122.68 and a fifty-two week high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.

About Alphabet

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.