Spinnaker Investment Group LLC Sells 166 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Spinnaker Investment Group LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,883 shares of the information services provider’s stock after selling 166 shares during the quarter. Spinnaker Investment Group LLC’s holdings in Alphabet were worth $735,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Apeiron RIA LLC lifted its holdings in shares of Alphabet by 9.9% in the fourth quarter. Apeiron RIA LLC now owns 4,084 shares of the information services provider’s stock worth $773,000 after buying an additional 368 shares in the last quarter. Secure Asset Management LLC raised its stake in Alphabet by 21.1% in the fourth quarter. Secure Asset Management LLC now owns 19,936 shares of the information services provider’s stock valued at $3,774,000 after purchasing an additional 3,476 shares in the last quarter. Verde Capital Management purchased a new position in shares of Alphabet during the fourth quarter worth approximately $226,000. Seros Financial LLC purchased a new position in shares of Alphabet during the fourth quarter worth approximately $277,000. Finally, Red Door Wealth Management LLC raised its stake in shares of Alphabet by 21.4% during the fourth quarter. Red Door Wealth Management LLC now owns 20,443 shares of the information services provider’s stock worth $3,870,000 after acquiring an additional 3,599 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of recent analyst reports. Cantor Fitzgerald lowered their price target on shares of Alphabet from $215.00 to $210.00 and set a “neutral” rating for the company in a report on Wednesday, January 22nd. China Renaissance raised shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a research report on Monday. Piper Sandler reiterated an “overweight” rating and issued a $210.00 price target (up previously from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. Finally, Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Nine equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $209.82.

Insider Activity at Alphabet

In related news, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the sale, the director now directly owns 282,832 shares in the company, valued at $52,329,576.64. This trade represents a 11.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $197.55, for a total value of $559,856.70. Following the completion of the sale, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at approximately $4,085,531.55. This represents a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 122,887 shares of company stock valued at $22,470,464. 11.55% of the stock is owned by corporate insiders.

Alphabet Trading Up 1.8 %

GOOGL stock opened at $195.30 on Wednesday. The firm has a fifty day moving average price of $186.79 and a 200 day moving average price of $173.61. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $202.29. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a market cap of $2.39 trillion, a PE ratio of 25.90, a price-to-earnings-growth ratio of 1.27 and a beta of 0.98.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same period last year, the firm posted $1.55 earnings per share. Sell-side analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

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.