Modera Wealth Management LLC Has $4.33 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

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Modera Wealth Management LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 40.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,557 shares of the information services provider’s stock after selling 1,059 shares during the quarter. Modera Wealth Management LLC’s holdings in Alphabet were worth $4,331,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Alphabet in the 4th quarter worth about $14,477,662,000. Allspring Global Investments Holdings LLC bought a new position in shares of Alphabet in the 4th quarter worth about $1,680,864,000. Fundsmith LLP bought a new position in shares of Alphabet in the 4th quarter worth about $1,214,138,000. Invesco Ltd. raised its position in shares of Alphabet by 14.1% in the 4th quarter. Invesco Ltd. now owns 2,292,059 shares of the information services provider’s stock worth $6,640,190,000 after acquiring an additional 283,907 shares in the last quarter. Finally, State Street Corp raised its position in shares of Alphabet by 1.4% in the 4th quarter. State Street Corp now owns 11,252,792 shares of the information services provider’s stock worth $32,599,789,000 after acquiring an additional 157,280 shares in the last quarter. 41.70% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on GOOGL shares. Stifel Nicolaus set a $155.00 price objective on Alphabet in a research report on Monday, July 18th. Jefferies Financial Group lowered their price objective on Alphabet from $155.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday. Monness Crespi & Hardt decreased their target price on Alphabet to $145.00 in a research report on Tuesday, July 5th. Wells Fargo & Company decreased their target price on Alphabet from $170.00 to $160.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Itaú Unibanco assumed coverage on Alphabet in a research report on Tuesday, July 26th. They issued a “market perform” rating and a $113.00 target price for the company. Five analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $147.29.

Insider Buying and Selling at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 490 shares of the business’s stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $2,335.30, for a total transaction of $1,144,297.00. Following the sale, the senior vice president now owns 497 shares of the company’s stock, valued at approximately $1,160,644.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 490 shares of the business’s stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $2,335.30, for a total transaction of $1,144,297.00. Following the sale, the senior vice president now owns 497 shares of the company’s stock, valued at approximately $1,160,644.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frances Arnold sold 1,230 shares of the company’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $116.44, for a total transaction of $143,221.20. Following the completion of the transaction, the director now directly owns 9,230 shares in the company, valued at approximately $1,074,741.20. The disclosure for this sale can be found here. Insiders have sold 7,269 shares of company stock valued at $12,792,226 in the last 90 days. 11.44% of the stock is currently owned by company insiders.

Alphabet Price Performance

Alphabet stock opened at $116.32 on Friday. Alphabet Inc. has a 12 month low of $101.88 and a 12 month high of $151.55. The company has a current ratio of 2.87, a quick ratio of 2.85 and a debt-to-equity ratio of 0.06. The business’s 50 day simple moving average is $154.46 and its 200 day simple moving average is $138.72. The company has a market cap of $1.53 trillion, a price-to-earnings ratio of 21.04, a PEG ratio of 1.12 and a beta of 1.10.

Alphabet (NASDAQ:GOOGLGet Rating) last posted its quarterly earnings data on Tuesday, July 26th. The information services provider reported $1.21 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.11). Alphabet had a net margin of 27.57% and a return on equity of 30.18%. During the same period in the previous year, the company posted $27.26 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 5.37 EPS for the current year.

Alphabet Company Profile

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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