Sterling Group Wealth Management LLC Cuts Position in Alphabet Inc. (NASDAQ:GOOGL)

Sterling Group Wealth Management LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 4.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,464 shares of the information services provider’s stock after selling 160 shares during the period. Alphabet makes up approximately 0.3% of Sterling Group Wealth Management LLC’s portfolio, making the stock its 25th biggest holding. Sterling Group Wealth Management LLC’s holdings in Alphabet were worth $656,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOGL. LMR Partners LLP purchased a new position in Alphabet in the third quarter valued at approximately $32,000. Denver PWM LLC lifted 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 purchasing an additional 57 shares during the last quarter. Quarry LP purchased a new position in Alphabet in the second quarter valued at approximately $53,000. Teachers Insurance & Annuity Association of America purchased a new position in Alphabet in the third quarter valued at approximately $66,000. Finally, Mendota Financial Group LLC lifted 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 purchasing an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the transaction, the chief accounting officer now owns 23,515 shares in the company, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $189.80, for a total value of $284,700.00. Following the completion of the transaction, the director now owns 21,824 shares of the company’s stock, valued at approximately $4,142,195.20. This trade represents a 6.43 % 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 over the last quarter. 11.55% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GOOGL. Evercore ISI upped their price objective on Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Robert W. Baird reissued an “outperform” rating and set a $205.00 target price on shares of Alphabet in a report on Tuesday, December 10th. Truist Financial boosted their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Needham & Company LLC boosted their target price on shares of Alphabet from $210.00 to $225.00 and gave the company a “buy” rating in a report on Monday. Finally, Wolfe Research boosted their target price on shares of Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Nine analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $209.82.

Check Out Our Latest Research Report on GOOGL

Alphabet Price Performance

Shares of Alphabet stock opened at $195.41 on Thursday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.39 trillion, a PE ratio of 25.92, a P/E/G ratio of 1.27 and a beta of 0.98. The business has a 50 day moving average of $187.14 and a 200 day moving average of $173.69. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $202.29.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the prior year, the company earned $1.55 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 8.02 earnings per share for the current year.

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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