Caisse DE Depot ET Placement DU Quebec lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 20.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 485,444 shares of the information services provider’s stock after selling 121,458 shares during the quarter. Alphabet accounts for approximately 2.3% of Caisse DE Depot ET Placement DU Quebec’s portfolio, making the stock its 7th biggest position. Caisse DE Depot ET Placement DU Quebec owned approximately 0.07% of Alphabet worth $1,004,204,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of GOOG. Resolute Partners Group purchased a new position in shares of Alphabet during the fourth quarter worth approximately $26,000. Mascoma Wealth Management LLC acquired a new stake in shares of Alphabet during the first quarter worth about $27,000. Better Money Decisions LLC purchased a new position in shares of Alphabet during the first quarter worth about $27,000. Brand Asset Management Group Inc. raised its stake in Alphabet by 200.0% during the 1st quarter. Brand Asset Management Group Inc. now owns 15 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 10 shares during the last quarter. Finally, Total Clarity Wealth Management Inc. acquired a new stake in Alphabet during the 1st quarter worth approximately $31,000. Institutional investors own 31.73% of the company’s stock.
Shares of GOOG stock traded down $20.31 during mid-day trading on Friday, reaching $2,501.29. The stock had a trading volume of 57,385 shares, compared to its average volume of 1,477,568. The firm has a market capitalization of $1.68 trillion, a P/E ratio of 33.44, a P/E/G ratio of 1.52 and a beta of 1.01. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.09 and a current ratio of 3.10. Alphabet Inc. has a 12-month low of $1,347.01 and a 12-month high of $2,523.26. The firm’s 50-day moving average is $2,344.39.
GOOG has been the subject of several analyst reports. Wolfe Research initiated coverage on Alphabet in a research note on Wednesday, March 31st. They set an “outperform” rating and a $2,450.00 price target for the company. Citigroup downgraded shares of Alphabet from a “buy” rating to a “neutral” rating in a research report on Monday, May 10th. Credit Suisse Group restated a “buy” rating on shares of Alphabet in a research note on Thursday, May 20th. Cowen boosted their price target on shares of Alphabet from $2,600.00 to $2,700.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 28th. Finally, Evercore ISI restated an “outperform” rating and issued a $2,525.00 price objective on shares of Alphabet in a research report on Tuesday, April 13th. Three investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $2,495.63.
In other news, CEO Sundar Pichai sold 3,000 shares of the company’s stock in a transaction on Wednesday, March 17th. The stock was sold at an average price of $2,075.03, for a total value of $6,225,090.00. Following the sale, the chief executive officer now directly owns 6,582 shares in the company, valued at $13,657,847.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John Kent Walker sold 2,570 shares of Alphabet stock in a transaction dated Monday, March 29th. The stock was sold at an average price of $2,037.34, for a total value of $5,235,963.80. Following the sale, the senior vice president now owns 26,707 shares of the company’s stock, valued at approximately $54,411,239.38. The disclosure for this sale can be found here. Insiders sold 57,998 shares of company stock worth $132,704,290 over the last quarter. Company insiders own 12.99% of the company’s stock.
Alphabet Company Profile
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. The company offers performance and brand advertising services. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, such as ads, Android, Chrome, hardware, Google Maps, Google Play, Search, and YouTube, as well as technical infrastructure; and digital content.
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