Financial Partners Group LLC Sells 3,540 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Financial Partners Group LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,759 shares of the information services provider’s stock after selling 3,540 shares during the period. Alphabet comprises approximately 6.1% of Financial Partners Group LLC’s holdings, making the stock its largest holding. Financial Partners Group LLC’s holdings in Alphabet were worth $14,720,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. LMR Partners LLP acquired a new stake in Alphabet in the third quarter worth $32,000. Denver PWM LLC increased its position in 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 buying an additional 57 shares during the period. Quarry LP acquired a new stake in Alphabet in the second quarter worth $53,000. Teachers Insurance & Annuity Association of America acquired a new stake in Alphabet in the third quarter worth $66,000. Finally, Mendota Financial Group LLC increased its position in Alphabet by 19.0% in the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock worth $67,000 after buying an additional 64 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Up 0.1 %

Shares of Alphabet stock opened at $195.41 on Thursday. The stock has a 50-day moving average price of $187.14 and a 200 day moving average price of $173.69. The company has a market cap of $2.39 trillion, a P/E ratio of 25.92, a P/E/G ratio of 1.27 and a beta of 0.98. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $202.29.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results 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. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same period last year, the business earned $1.55 EPS. As a group, analysts expect that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the completion of the sale, the chief executive officer now directly owns 2,084,306 shares of the company’s stock, valued at $369,672,512.16. This trade represents a 1.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 282,832 shares of the company’s stock, valued at $52,329,576.64. This trade represents a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 122,887 shares of company stock valued at $22,470,464 in the last three months. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on GOOGL shares. Truist Financial increased their target price on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley increased their price target on Alphabet from $205.00 to $215.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Loop Capital increased their price target on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. BMO Capital Markets reissued an “outperform” rating and issued a $217.00 price target (up previously from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Finally, Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Nine equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $209.82.

About Alphabet

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.