Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Sheets Smith Wealth Management

Sheets Smith Wealth Management cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.0% during the fourth quarter, Holdings Channel reports. The firm owned 13,739 shares of the information services provider’s stock after selling 574 shares during the quarter. Sheets Smith Wealth Management’s holdings in Alphabet were worth $2,601,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GOOGL. Conrad Siegel Investment Advisors Inc. boosted its stake in shares of Alphabet by 0.5% during the 4th quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock worth $1,864,000 after acquiring an additional 53 shares in the last quarter. Denver PWM LLC boosted its stake in shares of Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after acquiring an additional 57 shares in the last quarter. Ignite Planners LLC boosted its stake in shares of Alphabet by 0.4% during the 4th quarter. Ignite Planners LLC now owns 15,078 shares of the information services provider’s stock worth $2,892,000 after acquiring an additional 57 shares in the last quarter. Fermata Advisors LLC boosted its stake in shares of Alphabet by 0.8% during the 4th quarter. Fermata Advisors LLC now owns 7,433 shares of the information services provider’s stock worth $1,407,000 after acquiring an additional 57 shares in the last quarter. Finally, Winch Advisory Services LLC boosted its stake in shares of Alphabet by 1.3% during the 4th quarter. Winch Advisory Services LLC now owns 4,386 shares of the information services provider’s stock worth $830,000 after acquiring an additional 58 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $171.42, for a total value of $234,331.14. Following the transaction, the chief accounting officer now directly owns 26,349 shares in the company, valued at $4,516,745.58. This trade represents a 4.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $194.22, for a total value of $291,330.00. Following the transaction, the director now owns 23,324 shares in the company, valued at approximately $4,529,987.28. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 133,387 shares of company stock worth $24,368,654. Insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the subject of several recent analyst reports. Scotiabank upgraded Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. The Goldman Sachs Group restated a “buy” rating and set a $210.00 target price on shares of Alphabet in a research note on Thursday, December 12th. Roth Mkm increased their target price on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald decreased their target price on Alphabet from $215.00 to $210.00 and set a “neutral” rating for the company in a research note on Wednesday, January 22nd. Finally, DA Davidson increased their target price on Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday. Nine investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.44.

Alphabet Trading Up 1.1 %

GOOGL stock opened at $200.21 on Monday. The business has a fifty day moving average price of $186.46 and a 200 day moving average price of $173.69. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $202.29. The stock has a market capitalization of $2.45 trillion, a price-to-earnings ratio of 26.55, a P/E/G ratio of 1.27 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 (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period last year, the company earned $1.55 EPS. Analysts expect 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.