Nisa Investment Advisors LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 3.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,862,481 shares of the information services provider’s stock after selling 72,583 shares during the quarter. Alphabet makes up approximately 1.9% of Nisa Investment Advisors LLC’s investment portfolio, making the stock its 6th largest position. Nisa Investment Advisors LLC’s holdings in Alphabet were worth $243,724,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the company. Spreng Capital Management Inc. increased its position in shares of Alphabet by 4.0% during the first quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock worth $364,000 after purchasing an additional 5 shares in the last quarter. Maple Capital Management Inc. grew its holdings in Alphabet by 2.1% in the 1st quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock valued at $823,000 after buying an additional 6 shares in the last quarter. West Family Investments Inc. grew its holdings in Alphabet by 0.3% in the 1st quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after buying an additional 6 shares in the last quarter. Private Advisory Group LLC grew its holdings in Alphabet by 1.8% in the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock valued at $1,115,000 after buying an additional 7 shares in the last quarter. Finally, Weik Capital Management grew its holdings in Alphabet by 0.5% in the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after buying an additional 8 shares in the last quarter. 35.08% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on GOOGL. BMO Capital Markets began coverage on Alphabet in a report on Tuesday, January 9th. They issued an “outperform” rating and a $170.00 target price for the company. Wedbush restated an “outperform” rating and issued a $160.00 target price on shares of Alphabet in a report on Wednesday, October 25th. Rosenblatt Securities upped their price target on Alphabet from $163.00 to $174.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. Tigress Financial upped their price target on Alphabet from $172.00 to $176.00 and gave the company a “strong-buy” rating in a research note on Tuesday, November 21st. Finally, Piper Sandler upped their price target on Alphabet from $147.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, October 25th. Five analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $150.15.
Get Our Latest Stock Analysis on GOOGL
Alphabet Trading Down 1.3 %
GOOGL opened at $151.46 on Wednesday. Alphabet Inc. has a one year low of $88.57 and a one year high of $153.78. The company has a market cap of $1.90 trillion, a P/E ratio of 29.07, a PEG ratio of 1.35 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.01 and a current ratio of 2.04. The business’s 50-day simple moving average is $139.41 and its 200-day simple moving average is $134.57.
Insider Activity
In other news, SVP Prabhakar Raghavan sold 16,088 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $139.10, for a total value of $2,237,840.80. Following the transaction, the senior vice president now owns 52,440 shares in the company, valued at approximately $7,294,404. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Prabhakar Raghavan sold 16,088 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $139.10, for a total transaction of $2,237,840.80. Following the transaction, the senior vice president now owns 52,440 shares in the company, valued at approximately $7,294,404. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the transaction, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 189,439 shares of company stock worth $25,954,116. 0.88% of the stock is currently owned by insiders.
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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
See Also
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