Goelzer Investment Management Inc. Lowers Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Goelzer Investment Management Inc. lowered its holdings in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 4.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,237 shares of the information services provider’s stock after selling 291 shares during the period. Goelzer Investment Management Inc.’s holdings in Alphabet were worth $1,181,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in GOOGL. Miramar Capital LLC grew its position in Alphabet by 78.8% during the second quarter. Miramar Capital LLC now owns 43,854 shares of the information services provider’s stock valued at $7,988,000 after acquiring an additional 19,332 shares during the period. Kendall Capital Management grew its position in Alphabet by 5.6% during the second quarter. Kendall Capital Management now owns 15,770 shares of the information services provider’s stock valued at $2,873,000 after acquiring an additional 830 shares during the period. Concorde Asset Management LLC grew its position in Alphabet by 15.8% during the second quarter. Concorde Asset Management LLC now owns 2,266 shares of the information services provider’s stock valued at $413,000 after acquiring an additional 310 shares during the period. Riverview Capital Advisers LLC grew its position in Alphabet by 0.7% during the second quarter. Riverview Capital Advisers LLC now owns 21,140 shares of the information services provider’s stock valued at $3,851,000 after acquiring an additional 150 shares during the period. Finally, Haverford Financial Services Inc. purchased a new stake in Alphabet during the second quarter valued at about $7,006,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the sale, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the sale, the director now directly owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 121,630 shares of company stock valued at $22,258,133. Company insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Morgan Stanley raised their target price on Alphabet from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Robert W. Baird reissued an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research report on Tuesday, December 10th. Roth Mkm raised their price target on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Sanford C. Bernstein boosted their price objective on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Finally, Pivotal Research boosted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $209.82.

Get Our Latest Report on Alphabet

Alphabet Price Performance

NASDAQ GOOGL opened at $200.87 on Friday. Alphabet Inc. has a 52 week low of $130.66 and a 52 week 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 $2.46 trillion, a price-to-earnings ratio of 26.64, a price-to-earnings-growth ratio of 1.27 and a beta of 0.98. The company has a 50-day moving average price of $187.53 and a two-hundred day moving average price of $173.84.

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. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the prior year, the business posted $1.55 EPS. Analysts forecast that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet Company 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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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