Alphabet Inc. (NASDAQ:GOOGL) Stake Cut by Parkside Investments LLC

Parkside Investments LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 17.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,303 shares of the information services provider’s stock after selling 499 shares during the quarter. Parkside Investments LLC’s holdings in Alphabet were worth $436,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in GOOGL. State Street Corp increased its stake in shares of Alphabet by 0.3% during the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock worth $36,910,838,000 after purchasing an additional 743,369 shares during the last quarter. Geode Capital Management LLC grew its holdings in Alphabet by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after buying an additional 2,626,431 shares during the last quarter. JPMorgan Chase & Co. increased its position in Alphabet by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after acquiring an additional 4,567,275 shares during the period. Fisher Asset Management LLC raised its stake in Alphabet by 2.5% during the 3rd quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock valued at $8,268,933,000 after purchasing an additional 1,237,385 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Alphabet by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock valued at $6,175,106,000 after purchasing an additional 523,416 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the transaction, the chief executive officer now 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 legal filing with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the sale, the director now directly owns 282,832 shares of the company’s stock, valued at $52,329,576.64. The trade was a 11.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 121,189 shares of company stock valued at $22,182,696 over the last ninety days. Insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GOOGL. JPMorgan Chase & Co. upped their price objective on shares of Alphabet from $212.00 to $232.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $210.00 price target on shares of Alphabet in a report on Thursday, December 12th. Loop Capital lifted their price objective on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. BMO Capital Markets restated an “outperform” rating and issued a $217.00 target price (up from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Finally, Stifel Nicolaus lifted their price target on shares of Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Nine equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $211.00.

Alphabet Price Performance

Shares of GOOGL stock opened at $204.02 on Monday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12 month low of $130.66 and a 12 month high of $205.48. The firm has a market cap of $2.50 trillion, a price-to-earnings ratio of 27.06, a PEG ratio of 1.26 and a beta of 0.98. The stock has a 50-day moving average price of $188.97 and a 200 day moving average price of $174.08.

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.