Goldstein Advisors LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 2.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 10,725 shares of the information services provider’s stock after selling 300 shares during the period. Goldstein Advisors LLC’s holdings in Alphabet were worth $2,030,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in GOOGL. Schear Investment Advisers LLC boosted its position in shares of Alphabet by 17.0% during the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after purchasing an additional 4,905 shares in the last quarter. Trinity Financial Advisors LLC boosted its position in shares of Alphabet by 4.5% during the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after purchasing an additional 190 shares in the last quarter. Landscape Capital Management L.L.C. boosted its position in shares of Alphabet by 27.9% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock valued at $4,192,000 after purchasing an additional 5,516 shares in the last quarter. abrdn plc boosted its position in shares of Alphabet by 10.7% during the 3rd quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after purchasing an additional 611,233 shares in the last quarter. Finally, StoneCrest Wealth Management Inc. boosted its holdings in Alphabet by 0.7% in the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock worth $3,567,000 after acquiring an additional 140 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have issued reports on GOOGL. Wolfe Research increased their price target on Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Loop Capital increased their price target on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. Royal Bank of Canada increased their price target on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. increased their price target on Alphabet from $212.00 to $232.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Nine research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $209.82.
Insider Transactions at Alphabet
In other news, CAO Amie Thuener O’toole sold 2,834 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total value of $550,702.88. Following the completion of the transaction, the chief accounting officer now directly owns 17,847 shares of the company’s stock, valued at $3,468,029.04. This trade represents a 13.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction on Monday, January 13th. The shares were sold at an average price of $189.80, for a total value of $284,700.00. Following the sale, the director now directly owns 21,824 shares of the company’s stock, valued at $4,142,195.20. This represents a 6.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 122,887 shares of company stock valued at $22,470,464 over the last three months. Company insiders own 11.55% of the company’s stock.
Alphabet Stock Performance
NASDAQ:GOOGL opened at $195.30 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The business has a fifty day simple moving average of $186.79 and a two-hundred day simple moving average of $173.61. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $202.29. The company has a market capitalization of $2.39 trillion, a P/E ratio of 25.90, a P/E/G ratio of 1.27 and a beta of 0.98.
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same period last year, the company earned $1.55 earnings per share. On average, analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current year.
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.
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