Cerro Pacific Wealth Advisors LLC Has $2.61 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Cerro Pacific Wealth Advisors LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,788 shares of the information services provider’s stock after selling 374 shares during the period. Cerro Pacific Wealth Advisors LLC’s holdings in Alphabet were worth $2,610,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. LMR Partners LLP acquired a new position in Alphabet in the third quarter valued at about $32,000. Denver PWM LLC grew its stake in Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 57 shares during the period. Quarry LP acquired a new position in Alphabet in the second quarter valued at about $53,000. Teachers Insurance & Annuity Association of America acquired a new position in Alphabet in the third quarter valued at about $66,000. Finally, Mendota Financial Group LLC grew its stake in Alphabet by 19.0% in the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock valued at $67,000 after acquiring an additional 64 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the transaction, the director now owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. This trade represents a 2.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $171.42, for a total transaction of $234,331.14. Following the completion of the transaction, the chief accounting officer now directly owns 26,349 shares in the company, valued at approximately $4,516,745.58. The trade was a 4.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 122,887 shares of company stock worth $22,470,464 in the last three months. Company insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GOOGL. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. BMO Capital Markets restated an “outperform” rating and issued a $217.00 price target (up from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Loop Capital boosted their price target on Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Finally, Wells Fargo & Company boosted their price target on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Nine research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $209.82.

Get Our Latest Analysis on GOOGL

Alphabet Stock Up 0.1 %

Shares of GOOGL opened at $195.41 on Thursday. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $202.29. The stock has a market capitalization of $2.39 trillion, a price-to-earnings ratio of 25.92, a PEG ratio of 1.27 and a beta of 0.98. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a fifty day moving average of $187.14 and a 200-day moving average of $173.69.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share 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 the consensus estimate of $72.85 billion. During the same period last year, the business posted $1.55 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Alphabet Profile

(Free Report)

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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