EMC Capital Management Reduces Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

EMC Capital Management lowered its position in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 40.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,000 shares of the information services provider’s stock after selling 1,361 shares during the period. EMC Capital Management’s holdings in Alphabet were worth $267,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Cyrus J. Lawrence LLC lifted its position in shares of Alphabet by 1.9% during the 3rd quarter. Cyrus J. Lawrence LLC now owns 99,140 shares of the information services provider’s stock valued at $12,973,000 after acquiring an additional 1,829 shares during the period. Waters Parkerson & CO. LLC lifted its position in shares of Alphabet by 2.0% during the 3rd quarter. Waters Parkerson & CO. LLC now owns 16,080 shares of the information services provider’s stock valued at $2,104,000 after acquiring an additional 320 shares during the period. Valley Forge Investment Consultants Inc. ADV lifted its position in shares of Alphabet by 4.9% during the 3rd quarter. Valley Forge Investment Consultants Inc. ADV now owns 5,497 shares of the information services provider’s stock valued at $719,000 after acquiring an additional 257 shares during the period. Nicollet Investment Management Inc. lifted its position in shares of Alphabet by 3.6% during the 3rd quarter. Nicollet Investment Management Inc. now owns 48,569 shares of the information services provider’s stock valued at $6,356,000 after acquiring an additional 1,698 shares during the period. Finally, Ritter Daniher Financial Advisory LLC DE lifted its position in shares of Alphabet by 1.4% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 8,550 shares of the information services provider’s stock valued at $1,119,000 after acquiring an additional 120 shares during the period. Institutional investors and hedge funds own 35.08% of the company’s stock.

Insider Buying and Selling

In related news, insider John Kent Walker sold 28,281 shares of the stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $141.40, for a total transaction of $3,998,933.40. Following the sale, the insider now owns 25,002 shares in the company, valued at $3,535,282.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Alphabet news, insider John Kent Walker sold 28,281 shares of the firm’s stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $141.40, for a total value of $3,998,933.40. Following the sale, the insider now owns 25,002 shares in the company, valued at $3,535,282.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 420 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $133.32, for a total transaction of $55,994.40. Following the completion of the sale, the chief accounting officer now owns 26,833 shares in the company, valued at approximately $3,577,375.56. The disclosure for this sale can be found here. Insiders have sold a total of 137,774 shares of company stock worth $19,547,001 over the last quarter. 0.88% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of recent research reports. Wells Fargo & Company raised their price objective on shares of Alphabet from $126.00 to $129.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 16th. Tigress Financial raised their price objective on shares of Alphabet from $172.00 to $176.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, November 21st. Wolfe Research raised their price objective on shares of Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. JMP Securities raised their price objective on shares of Alphabet from $150.00 to $160.00 and gave the stock a “market outperform” rating in a research note on Wednesday, January 31st. Finally, BMO Capital Markets raised their price objective on shares of Alphabet from $170.00 to $178.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Five analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $153.65.

View Our Latest Stock Report on GOOGL

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $142.55 on Thursday. The company has a market cap of $1.78 trillion, a PE ratio of 24.58, a P/E/G ratio of 1.30 and a beta of 1.06. Alphabet Inc. has a fifty-two week low of $88.57 and a fifty-two week high of $153.78. The firm has a 50-day simple moving average of $142.43 and a 200 day simple moving average of $136.46. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. The firm had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. During the same quarter in the prior year, the business earned $1.05 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 6.76 EPS 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.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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