Gradient Investments LLC Lowers Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Gradient Investments LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 4.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,426 shares of the information services provider’s stock after selling 329 shares during the period. Gradient Investments LLC’s holdings in Alphabet were worth $1,406,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GOOGL. International Assets Investment Management LLC raised its holdings in shares of Alphabet by 43,005.6% in the third quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock valued at $31,086,250,000 after purchasing an additional 18,700,111 shares during the last quarter. SG Americas Securities LLC grew its position in Alphabet by 587.4% during the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock valued at $1,772,991,000 after buying an additional 9,135,056 shares during the period. Assenagon Asset Management S.A. grew its position in Alphabet by 116.4% during the third quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock valued at $1,437,957,000 after buying an additional 4,662,809 shares during the period. JPMorgan Chase & Co. grew its position in Alphabet by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after buying an additional 4,567,275 shares during the period. Finally, Clearbridge Investments LLC grew its position in Alphabet by 115.4% during the second quarter. Clearbridge Investments LLC now owns 6,939,456 shares of the information services provider’s stock valued at $1,264,022,000 after buying an additional 3,718,420 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 37,134 shares of Alphabet stock in a transaction 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 in the company, valued at approximately $52,329,576.64. This trade represents a 11.61 % 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 Frances Arnold sold 441 shares of Alphabet stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 121,630 shares of company stock worth $22,258,133. 11.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Wedbush increased their price target on shares of Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. Pivotal Research increased their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Sanford C. Bernstein increased their price target on shares of Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and set a $210.00 price target (up previously from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Finally, DA Davidson increased their target price on shares of Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Nine 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $209.82.

Alphabet Trading Up 2.8 %

Shares of GOOGL opened at $200.87 on Friday. The firm has a market cap of $2.46 trillion, a price-to-earnings ratio of 26.64, 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. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $202.29. The firm has a 50 day moving average price of $187.53 and a 200-day moving average price of $173.84.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data 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 firm 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 previous year, the business posted $1.55 EPS. As a group, equities research analysts forecast that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet 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.