Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Mutual Advisors LLC

Mutual Advisors LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 10.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 140,017 shares of the information services provider’s stock after selling 16,483 shares during the period. Alphabet comprises approximately 0.8% of Mutual Advisors LLC’s holdings, making the stock its 15th biggest position. Mutual Advisors LLC’s holdings in Alphabet were worth $27,011,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. LMR Partners LLP acquired a new stake in shares of Alphabet in the third quarter valued at about $32,000. Denver PWM LLC boosted its holdings in Alphabet by 25.4% in the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after buying an additional 57 shares during the last quarter. Quarry LP purchased a new stake in Alphabet during the 2nd quarter worth approximately $53,000. Teachers Insurance & Annuity Association of America acquired a new position in shares of Alphabet during the third quarter valued at approximately $66,000. Finally, Mendota Financial Group LLC lifted its position in shares of Alphabet by 19.0% in the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock valued at $67,000 after acquiring an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Wells Fargo & Company increased their price objective on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. DA Davidson increased their target price on shares of Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday. China Renaissance upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Roth Mkm increased their price objective on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Phillip Securities upgraded Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Nine research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $209.82.

Alphabet Stock Performance

Shares of GOOGL stock opened at $191.81 on Tuesday. The company has a market cap of $2.35 trillion, a P/E ratio of 25.44, a PEG ratio of 1.27 and a beta of 0.98. The firm has a fifty day moving average price of $186.46 and a 200 day moving average price of $173.57. The company has a current ratio of 1.95, a quick 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 $202.29.

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

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $194.32, for a total value of $550,702.88. Following the completion of the sale, the chief accounting officer now directly owns 17,847 shares of the company’s stock, valued at $3,468,029.04. The trade was a 13.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the transaction, the director now directly owns 330,466 shares in the company, valued at approximately $59,741,643.48. The trade was a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 133,387 shares of company stock valued at $24,368,654 over the last three months. 11.55% of the stock is owned by corporate insiders.

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.