Mcrae Capital Management Inc. cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 40.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,712 shares of the information services provider’s stock after selling 1,140 shares during the period. Mcrae Capital Management Inc.’s holdings in Alphabet were worth $286,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Abich Financial Wealth Management LLC boosted its holdings in Alphabet by 9,200.0% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 186 shares of the information services provider’s stock worth $34,000 after acquiring an additional 184 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new position in Alphabet during the second quarter worth about $37,000. HWG Holdings LP bought a new stake in Alphabet in the 2nd quarter worth about $40,000. Slocum Gordon & Co LLP purchased a new stake in Alphabet in the 2nd quarter valued at about $44,000. Finally, Hoese & Co LLP lifted its position in shares of Alphabet by 62.5% during the 2nd quarter. Hoese & Co LLP now owns 260 shares of the information services provider’s stock worth $45,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.
Alphabet Price Performance
GOOG opened at $166.99 on Monday. The company has a market capitalization of $2.06 trillion, a price-to-earnings ratio of 23.96, a PEG ratio of 1.27 and a beta of 1.04. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The firm has a 50-day moving average price of $163.35 and a 200-day moving average price of $170.12. Alphabet Inc. has a twelve month low of $121.46 and a twelve month high of $193.31.
Insider Activity at Alphabet
Analyst Ratings Changes
Several equities analysts have recently issued reports on the company. Oppenheimer reduced their target price on Alphabet from $210.00 to $185.00 and set an “outperform” rating for the company in a report on Wednesday, September 25th. TD Cowen upped their price objective on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Wolfe Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, July 16th. Scotiabank began coverage on shares of Alphabet in a research report on Friday, October 11th. They set a “sector outperform” rating and a $212.00 price target for the company. Finally, DA Davidson upgraded shares of Alphabet to a “hold” rating in a report on Tuesday, September 10th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $186.90.
Check Out Our Latest Analysis on GOOG
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.
See Also
- Five stocks we like better than Alphabet
- 10 Best Airline Stocks to Buy
- Real Estate Sector Outperforms: 3 Stocks to Gain Exposure
- What does consumer price index measure?
- Lam Research Proves Analysts Wrong with a Strong Earnings Report
- Quiet Period Expirations Explained
- PureCycle: Up 250% in 2024 – Is This Materials Stock Still a Buy?
Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG – Free Report).
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.