High Net Worth Advisory Group LLC Reduces Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

High Net Worth Advisory Group LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,638 shares of the information services provider’s stock after selling 586 shares during the quarter. High Net Worth Advisory Group LLC’s holdings in Alphabet were worth $1,635,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Summit Trail Advisors LLC lifted its position in Alphabet by 12.1% during the second quarter. Summit Trail Advisors LLC now owns 147,414 shares of the information services provider’s stock valued at $26,852,000 after buying an additional 15,940 shares during the period. TPG Advisors LLC bought a new position in shares of Alphabet in the 2nd quarter worth about $563,000. Asset Management Group Inc. boosted its stake in Alphabet by 13.4% during the second quarter. Asset Management Group Inc. now owns 12,670 shares of the information services provider’s stock worth $2,308,000 after acquiring an additional 1,499 shares in the last quarter. Arista Wealth Management LLC purchased a new stake in Alphabet in the second quarter worth about $665,000. Finally, Tcwp LLC increased its stake in shares of Alphabet by 1.7% during the second quarter. Tcwp LLC now owns 4,191 shares of the information services provider’s stock valued at $763,000 after purchasing an additional 69 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GOOGL has been the topic of a number of analyst reports. Wells Fargo & Company boosted their price target on Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Bank of America restated a “buy” rating and set a $210.00 price target on shares of Alphabet in a report on Monday, December 23rd. Roth Mkm upped their price target on shares of Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, China Renaissance upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Nine 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $211.00.

Alphabet Stock Performance

Shares of GOOGL opened at $204.02 on Friday. The business has a 50-day simple moving average of $188.97 and a two-hundred day simple moving average of $174.15. 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 52 week low of $130.66 and a 52 week high of $205.48. The stock 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.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 2,834 shares of the 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. This represents a 13.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of Alphabet 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 transaction, the director now owns 23,324 shares in the company, valued at approximately $4,529,987.28. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 121,630 shares of company stock worth $22,258,133. Company insiders own 11.55% of the company’s stock.

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.