Drive Wealth Management LLC Has $4.49 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Drive Wealth Management LLC lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,732 shares of the information services provider’s stock after selling 236 shares during the quarter. Alphabet makes up about 1.1% of Drive Wealth Management LLC’s investment portfolio, making the stock its 16th largest position. Drive Wealth Management LLC’s holdings in Alphabet were worth $4,492,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. lifted its stake in Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after purchasing an additional 166 shares during the period. Neumann Advisory Hong Kong Ltd raised its holdings in shares of Alphabet by 24.5% in the 4th quarter. Neumann Advisory Hong Kong Ltd now owns 40,439 shares of the information services provider’s stock worth $7,655,000 after buying an additional 7,950 shares in the last quarter. Narwhal Capital Management acquired a new position in shares of Alphabet in the 4th quarter worth approximately $222,000. Peak Financial Management Inc. lifted its position in shares of Alphabet by 5.5% during the 4th quarter. Peak Financial Management Inc. now owns 4,420 shares of the information services provider’s stock worth $837,000 after buying an additional 229 shares during the period. Finally, Bryant Woods Investment Advisors LLC boosted its stake in Alphabet by 22.9% in the 4th quarter. Bryant Woods Investment Advisors LLC now owns 1,764 shares of the information services provider’s stock valued at $334,000 after buying an additional 329 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the transaction, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. The trade was a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the sale, the director now directly owns 16,490 shares in the company, valued at approximately $2,820,779.40. This represents a 2.60 % 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 Stock Performance

Shares of NASDAQ:GOOGL opened at $204.02 on Friday. The firm’s 50 day simple moving average is $188.97 and its 200 day simple moving average is $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 capitalization of $2.50 trillion, a price-to-earnings ratio of 27.06, a P/E/G 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.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several recent analyst reports. Royal Bank of Canada increased their price objective on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Robert W. Baird reiterated an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research report on Tuesday, December 10th. Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, 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 note on Monday, January 13th. Nine research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $211.00.

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.