Encompass More Asset Management Decreases Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Encompass More Asset Management decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 3.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,995 shares of the information services provider’s stock after selling 202 shares during the quarter. Encompass More Asset Management’s holdings in Alphabet were worth $1,135,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Axxcess Wealth Management LLC grew its stake in shares of Alphabet by 10.9% during the 2nd quarter. Axxcess Wealth Management LLC now owns 203,376 shares of the information services provider’s stock valued at $36,306,000 after purchasing an additional 19,961 shares during the period. L & S Advisors Inc grew its stake in shares of Alphabet by 77.3% during the 2nd quarter. L & S Advisors Inc now owns 106,052 shares of the information services provider’s stock valued at $19,317,000 after purchasing an additional 46,223 shares during the period. Foresight Global Investors Inc. grew its stake in shares of Alphabet by 14.3% during the 2nd quarter. Foresight Global Investors Inc. now owns 8,972 shares of the information services provider’s stock valued at $1,634,000 after purchasing an additional 1,125 shares during the period. DecisionPoint Financial LLC grew its stake in shares of Alphabet by 25.0% during the 2nd quarter. DecisionPoint Financial LLC now owns 1,211 shares of the information services provider’s stock valued at $208,000 after purchasing an additional 242 shares during the period. Finally, Turiya Advisors Asia Ltd bought a new stake in shares of Alphabet during the 2nd quarter valued at about $109,836,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In other news, insider John Kent Walker sold 16,820 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This represents a 27.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total value of $550,702.88. Following the transaction, the chief accounting officer now directly owns 17,847 shares in the company, valued at $3,468,029.04. The trade was a 13.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 122,887 shares of company stock worth $22,470,464 over the last quarter. Company insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GOOGL. Roth Mkm boosted their price objective on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Pivotal Research boosted 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. Stifel Nicolaus boosted their price objective on Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Needham & Company LLC boosted their price objective on Alphabet from $210.00 to $225.00 and gave the company a “buy” rating in a research note on Monday. Finally, Royal Bank of Canada upped their price target on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $209.82.

Alphabet Stock Performance

GOOGL stock opened at $195.41 on Thursday. 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 business’s fifty day simple moving average is $187.14 and its two-hundred day simple moving average is $173.69. Alphabet Inc. has a twelve month low of $130.66 and a twelve month high of $202.29. The firm has a market cap of $2.39 trillion, a price-to-earnings ratio of 25.92, a PEG ratio of 1.27 and a beta of 0.98.

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

Alphabet 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.