Financial Partners Group LLC Cuts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Financial Partners Group LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 4.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 77,759 shares of the information services provider’s stock after selling 3,540 shares during the period. Alphabet accounts for 6.1% of Financial Partners Group LLC’s portfolio, making the stock its largest position. Financial Partners Group LLC’s holdings in Alphabet were worth $14,720,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LMR Partners LLP acquired a new stake in Alphabet in the 3rd quarter valued at approximately $32,000. Denver PWM LLC grew its holdings in shares of Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after purchasing an additional 57 shares in the last quarter. Quarry LP acquired a new stake in shares of Alphabet during the 2nd quarter worth approximately $53,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Alphabet during the 3rd quarter worth approximately $66,000. Finally, Mendota Financial Group LLC grew its holdings in shares of Alphabet by 19.0% during the 3rd quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock worth $67,000 after purchasing an additional 64 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Up 0.1 %

NASDAQ:GOOGL opened at $195.41 on Thursday. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $202.29. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market cap 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 stock has a 50-day moving average price of $187.14 and a two-hundred day moving average price of $173.69.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $72.85 billion. During the same period in the previous year, the firm earned $1.55 earnings per share. As a group, equities analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several recent research reports. BMO Capital Markets reissued an “outperform” rating and set a $217.00 price objective (up previously from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. JMP Securities restated a “market perform” rating on shares of Alphabet in a research report on Monday. DA Davidson raised their target price on Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Loop Capital raised their target price on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Finally, China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Nine analysts have rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $209.82.

Get Our Latest Report on Alphabet

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $197.55, for a total transaction of $559,856.70. Following the completion of the transaction, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at $4,085,531.55. This represents a 12.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $189.80, for a total value of $284,700.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 122,887 shares of company stock valued at $22,470,464. Company insiders own 11.55% of the company’s stock.

About Alphabet

(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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