Hunter Perkins Capital Management LLC Decreases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Hunter Perkins Capital Management LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 5.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 86,823 shares of the information services provider’s stock after selling 4,845 shares during the quarter. Alphabet makes up 3.5% of Hunter Perkins Capital Management LLC’s investment portfolio, making the stock its 6th largest position. Hunter Perkins Capital Management LLC’s holdings in Alphabet were worth $16,436,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of GOOGL. State Street Corp lifted its holdings in shares of Alphabet by 0.3% during the third quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock valued at $36,910,838,000 after purchasing an additional 743,369 shares in the last quarter. Geode Capital Management LLC lifted its stake in Alphabet by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after acquiring an additional 2,626,431 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Alphabet by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after acquiring an additional 4,567,275 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Alphabet by 2.5% in the third quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock worth $8,268,933,000 after acquiring an additional 1,237,385 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Alphabet by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock valued at $6,175,106,000 after purchasing an additional 523,416 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Price Performance

GOOGL opened at $204.02 on Monday. The company has a market capitalization of $2.50 trillion, a price-to-earnings ratio of 27.06, a PEG ratio of 1.26 and a beta of 0.98. 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 $205.48. The business’s fifty day simple moving average is $188.97 and its 200-day simple moving average is $174.08.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total value of $3,990,600.00. Following the completion of the transaction, the chief executive officer now directly owns 2,084,306 shares in the company, valued at approximately $369,672,512.16. The trade was a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the transaction, the chief accounting officer now directly owns 23,515 shares in the company, valued at approximately $4,007,191.15. The trade was a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 121,189 shares of company stock worth $22,182,696 in the last three months. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Roth Mkm upped their price target on Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Sanford C. Bernstein increased their target price on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Wolfe Research upped their price target on shares of Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Scotiabank raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Finally, China Renaissance upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Nine research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $211.00.

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.