Williams & Novak LLC Cuts Stake in Alphabet Inc. (NASDAQ:GOOGL)

Williams & Novak LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 53.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,028 shares of the information services provider’s stock after selling 2,361 shares during the quarter. Williams & Novak LLC’s holdings in Alphabet were worth $384,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. LMR Partners LLP bought a new stake in Alphabet in the 3rd quarter worth about $32,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after acquiring an additional 166 shares during the last quarter. Denver PWM LLC grew its stake in shares of Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after acquiring an additional 57 shares during the period. Quarry LP bought a new stake in shares of Alphabet in the second quarter worth approximately $53,000. Finally, Teachers Insurance & Annuity Association of America purchased a new position in shares of Alphabet during the third quarter valued at approximately $66,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 1,340 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the transaction, the chief accounting officer now owns 17,848 shares in the company, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $194.22, for a total value of $291,330.00. Following the sale, the director now directly owns 23,324 shares of the company’s stock, valued at approximately $4,529,987.28. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 89,529 shares of company stock worth $16,600,078 in the last three months. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL opened at $191.33 on Thursday. 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 firm has a market cap of $2.34 trillion, a PE ratio of 25.38, a P/E/G ratio of 1.31 and a beta of 0.99. Alphabet Inc. has a 12 month low of $130.66 and a 12 month high of $207.05. The stock has a fifty day moving average price of $190.39 and a 200-day moving average price of $174.40.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Equities research analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GOOGL. BMO Capital Markets restated an “outperform” rating and issued a $217.00 target price (up previously from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Sanford C. Bernstein raised their price target on Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group reiterated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Thursday, December 12th. Morgan Stanley lowered their target price on Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Piper Sandler cut their price target on Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a research note on Wednesday. Nine investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $210.95.

Alphabet Company 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.