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Modera Wealth Management LLC Sells 1,059 Shares of Alphabet Inc. (NASDAQ:GOOGL)

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Modera Wealth Management LLC reduced its holdings in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 40.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of GOOGL. Morling Financial Advisors LLC acquired a new position in shares of Alphabet during the fourth quarter worth about $29,000. West Bancorporation Inc. acquired a new position in shares of Alphabet during the fourth quarter worth about $29,000. Wealthgate Family Office LLC acquired a new position in shares of Alphabet during the fourth quarter worth about $32,000. NS Partners Ltd acquired a new position in shares of Alphabet during the fourth quarter worth about $41,000. Finally, AHL Investment Management Inc. acquired a new position in shares of Alphabet during the fourth quarter worth about $46,000. 41.70% of the stock is currently owned by institutional investors.

Alphabet Trading Up 1.8 %

Shares of GOOGL stock opened at $116.32 on Friday. The stock’s fifty day moving average price is $154.46 and its two-hundred day moving average price is $138.72. The company has a market cap of $1.53 trillion, a PE ratio of 21.04, a P/E/G ratio of 1.12 and a beta of 1.10. Alphabet Inc. has a fifty-two week low of $101.88 and a fifty-two week high of $151.55. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.85 and a current ratio of 2.87.

Alphabet (NASDAQ:GOOGLGet Rating) last issued its earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates 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 last year, the company posted $27.26 earnings per share. Equities analysts predict that Alphabet Inc. will post 5.37 EPS for the current fiscal year.

Insider Buying and Selling at Alphabet

In other Alphabet news, SVP Prabhakar Raghavan sold 490 shares of the firm’s stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $2,335.30, for a total value 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 document filed with the SEC, which is available at the SEC website. In related news, SVP Prabhakar Raghavan sold 490 shares of the firm’s stock in a transaction on Tuesday, May 3rd. The stock was 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv acquired 255,647 shares of the business’s stock in a transaction that occurred on Tuesday, May 10th. The shares were purchased at an average cost of $34.65 per share, for a total transaction of $8,858,168.55. Following the acquisition, the insider now owns 479,695 shares in the company, valued at $16,621,431.75. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 7,269 shares of company stock valued at $12,792,226. 11.44% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on GOOGL shares. Bank of America reduced their price target on Alphabet from $132.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday. BMO Capital Markets reduced their price target on Alphabet from $165.00 to $150.00 and set an “outperform” rating for the company in a research report on Wednesday, April 27th. Truist Financial reduced their price target on Alphabet from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday. Monness Crespi & Hardt reduced their price target on Alphabet to $145.00 in a research report on Tuesday, July 5th. Finally, Piper Sandler reduced their price target on Alphabet from $139.00 to $135.00 and set an “overweight” rating for the company in a research report on Wednesday. Five analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $147.29.

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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