Spectrum Asset Management Inc. NB CA cut its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 24.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,710 shares of the information services provider’s stock after selling 1,550 shares during the quarter. Spectrum Asset Management Inc. NB CA’s holdings in Alphabet were worth $658,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. RWQ Financial Management Services Inc. raised its holdings in Alphabet by 8.2% during the 4th quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock worth $8,591,000 after buying an additional 4,664 shares during the period. Ballast Advisors LLC raised its holdings in Alphabet by 9.6% during the 3rd quarter. Ballast Advisors LLC now owns 15,747 shares of the information services provider’s stock worth $2,061,000 after buying an additional 1,385 shares during the period. Quantum Financial Advisors LLC raised its holdings in Alphabet by 8.0% during the 3rd quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock worth $998,000 after buying an additional 564 shares during the period. Acadian Asset Management LLC grew its stake in Alphabet by 2.4% during the 3rd quarter. Acadian Asset Management LLC now owns 4,416,533 shares of the information services provider’s stock valued at $577,908,000 after acquiring an additional 104,366 shares in the last quarter. Finally, NatWest Group plc grew its stake in Alphabet by 239.0% during the 4th quarter. NatWest Group plc now owns 100,793 shares of the information services provider’s stock valued at $14,080,000 after acquiring an additional 71,057 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.
Alphabet Stock Down 1.1 %
Shares of GOOGL stock opened at $157.73 on Friday. Alphabet Inc. has a 12 month low of $102.63 and a 12 month high of $160.22. The firm has a market cap of $1.96 trillion, a PE ratio of 27.19, a price-to-earnings-growth ratio of 1.47 and a beta of 1.05. The stock has a 50 day moving average of $145.33 and a 200-day moving average of $139.80. 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:GOOGL – Get Free Report) last issued its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $86.31 billion during the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same period in the previous year, the company earned $1.05 earnings per share. On average, equities analysts predict that Alphabet Inc. will post 6.78 EPS for the current year.
Insider Activity at Alphabet
In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,332,691 shares in the company, valued at $309,548,095.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,332,691 shares in the company, valued at $309,548,095.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the transaction, the senior vice president now owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 250,539 shares of company stock worth $35,906,259. 0.88% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on GOOGL shares. KeyCorp lifted their target price on Alphabet from $153.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, January 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $160.00 target price on shares of Alphabet in a research note on Wednesday, January 31st. Mizuho lifted their target price on Alphabet from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Redburn Atlantic lifted their target price on Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Finally, Wedbush reaffirmed an “outperform” rating and set a $175.00 target price on shares of Alphabet in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $155.61.
Get Our Latest Analysis on GOOGL
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.
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