Cypress Point Wealth Management LLC Has $398,000 Position in Alphabet Inc. (NASDAQ:GOOGL)

Cypress Point Wealth Management LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 41.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,104 shares of the information services provider’s stock after selling 1,513 shares during the period. Cypress Point Wealth Management LLC’s holdings in Alphabet were worth $398,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Clarendon Private LLC bought a new stake in Alphabet in the 4th quarter valued at $1,199,000. Affinity Wealth Management LLC lifted its stake in shares of Alphabet by 2.2% in the fourth quarter. Affinity Wealth Management LLC now owns 47,876 shares of the information services provider’s stock valued at $9,063,000 after buying an additional 1,016 shares during the period. Crescent Grove Advisors LLC grew its position in Alphabet by 36.1% during the fourth quarter. Crescent Grove Advisors LLC now owns 5,684 shares of the information services provider’s stock worth $1,076,000 after buying an additional 1,507 shares in the last quarter. Marshall Financial Group LLC increased its stake in Alphabet by 4.9% during the fourth quarter. Marshall Financial Group LLC now owns 6,605 shares of the information services provider’s stock valued at $1,250,000 after acquiring an additional 307 shares during the period. Finally, Park Edge Advisors LLC acquired a new position in Alphabet in the 4th quarter valued at approximately $220,000. Institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on GOOGL shares. Cantor Fitzgerald decreased their price objective on Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a report on Wednesday, January 22nd. Robert W. Baird restated an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a research note on Tuesday, December 10th. Wells Fargo & Company lifted their target price on shares of Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. China Renaissance raised shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Finally, Evercore ISI lifted their price objective on Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Nine research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $211.00.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the transaction, the director now owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the sale, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at $4,007,191.15. This represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 121,630 shares of company stock valued at $22,258,133. Corporate insiders own 11.55% of the company’s stock.

Alphabet Trading Up 1.6 %

GOOGL opened at $204.02 on Friday. The firm has a 50 day simple moving average of $188.97 and a 200 day simple moving average of $174.15. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $205.48. The company has a market cap of $2.50 trillion, a price-to-earnings ratio of 27.06, a price-to-earnings-growth ratio of 1.26 and a beta of 0.98. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

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.