Zweig DiMenna Associates LLC Sells 14,700 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Zweig DiMenna Associates LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 18.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 67,000 shares of the information services provider’s stock after selling 14,700 shares during the quarter. Zweig DiMenna Associates LLC’s holdings in Alphabet were worth $12,683,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. Axxcess Wealth Management LLC grew its position in Alphabet by 10.9% in the second quarter. Axxcess Wealth Management LLC now owns 203,376 shares of the information services provider’s stock worth $36,306,000 after acquiring an additional 19,961 shares in the last quarter. L & S Advisors Inc grew its position in Alphabet by 77.3% in the second quarter. L & S Advisors Inc now owns 106,052 shares of the information services provider’s stock worth $19,317,000 after acquiring an additional 46,223 shares in the last quarter. Foresight Global Investors Inc. boosted its position in Alphabet by 14.3% during the second quarter. Foresight Global Investors Inc. now owns 8,972 shares of the information services provider’s stock valued at $1,634,000 after buying an additional 1,125 shares during the period. DecisionPoint Financial LLC grew its stake in shares of Alphabet by 25.0% during the second quarter. DecisionPoint Financial LLC now owns 1,211 shares of the information services provider’s stock valued at $208,000 after buying an additional 242 shares during the last quarter. Finally, Turiya Advisors Asia Ltd bought a new position in shares of Alphabet during the second quarter valued at about $109,836,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $194.22, for a total transaction of $291,330.00. Following the completion of the sale, the director now owns 23,324 shares of the company’s stock, valued at $4,529,987.28. The trade was a 6.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 transaction of $550,702.88. Following the sale, the chief accounting officer now directly owns 17,847 shares of the company’s stock, valued at approximately $3,468,029.04. The trade was a 13.70 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 122,887 shares of company stock valued at $22,470,464. Company insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL opened at $195.41 on Thursday. The company has a market capitalization of $2.39 trillion, a P/E ratio of 25.92, a price-to-earnings-growth ratio of 1.27 and a beta of 0.98. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average of $187.14 and a 200 day moving average of $173.69. Alphabet Inc. has a twelve month low of $130.66 and a twelve month high of $202.29.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter in the previous year, the firm posted $1.55 EPS. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of recent research reports. Truist Financial raised their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Pivotal Research raised their price objective on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Bank of America reaffirmed a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research note on Monday, December 23rd. Cantor Fitzgerald reduced their price objective on Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 22nd. Finally, Roth Mkm raised their target price on Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating, thirty have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.82.

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.