Alphabet Inc. (NASDAQ:GOOGL) Stock Position Lowered by Wells Trecaso Financial Group LLC

Wells Trecaso Financial Group LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,542 shares of the information services provider’s stock after selling 550 shares during the quarter. Alphabet comprises 4.4% of Wells Trecaso Financial Group LLC’s investment portfolio, making the stock its 5th biggest position. Wells Trecaso Financial Group LLC’s holdings in Alphabet were worth $13,354,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC lifted its stake in Alphabet by 43,005.6% in the 3rd quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock worth $31,086,250,000 after purchasing an additional 18,700,111 shares in the last quarter. SG Americas Securities LLC lifted its stake in Alphabet by 587.4% in the 3rd quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock worth $1,772,991,000 after purchasing an additional 9,135,056 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Alphabet by 116.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock worth $1,437,957,000 after purchasing an additional 4,662,809 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Alphabet by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after purchasing an additional 4,567,275 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its stake in Alphabet by 115.4% in the 2nd quarter. Clearbridge Investments LLC now owns 6,939,456 shares of the information services provider’s stock worth $1,264,022,000 after purchasing an additional 3,718,420 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Evercore ISI increased their target price on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Loop Capital raised their price objective on shares of Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Stifel Nicolaus raised their price objective on shares of Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, Sanford C. Bernstein raised their price objective on shares of Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating, thirty have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $209.82.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the transaction, the chief accounting officer now owns 23,515 shares in the company, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the transaction, the director now owns 282,832 shares in the company, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 122,887 shares of company stock valued at $22,470,464 over the last quarter. Corporate insiders own 11.55% of the company’s stock.

Alphabet Trading Up 0.1 %

NASDAQ:GOOGL opened at $195.41 on Thursday. Alphabet Inc. has a one year low of $130.66 and a one year high of $202.29. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The company’s 50-day simple moving average is $187.14 and its 200 day simple moving average is $173.69. The firm has a market capitalization of $2.39 trillion, a P/E ratio of 25.92, a PEG ratio of 1.27 and a beta of 0.98.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the previous year, the firm posted $1.55 earnings per share. As a group, analysts forecast that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

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.