Stonegate Investment Group LLC Sells 19,256 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Stonegate Investment Group LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 853,050 shares of the information services provider’s stock after selling 19,256 shares during the period. Alphabet accounts for approximately 4.3% of Stonegate Investment Group LLC’s portfolio, making the stock its 5th biggest holding. Stonegate Investment Group LLC’s holdings in Alphabet were worth $161,482,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in GOOGL. LMR Partners LLP acquired a new position in shares of Alphabet in the third quarter valued at approximately $32,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 166 shares during the period. Denver PWM LLC increased its holdings in shares of Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 57 shares during the period. Quarry LP acquired a new position in Alphabet during the second quarter worth $53,000. Finally, Teachers Insurance & Annuity Association of America acquired a new position in Alphabet during the third quarter worth $66,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Up 2.6 %

Shares of GOOGL opened at $206.38 on Wednesday. The company has a market capitalization of $2.53 trillion, a P/E ratio of 27.37, a P/E/G ratio of 1.31 and a beta of 0.99. Alphabet Inc. has a one year low of $130.66 and a one year high of $207.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a 50-day moving average price of $189.64 and a 200 day moving average price of $174.20.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. Sell-side analysts forecast that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $177.41, for a total transaction of $1,862,805.00. Following the transaction, the director now owns 319,966 shares of the company’s stock, valued at $56,765,168.06. This trade represents a 3.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 1,340 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares in the company, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,029 shares of company stock valued at $18,462,883. Insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Bank of America restated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research report on Monday, December 23rd. Wells Fargo & Company upped their price objective on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Loop Capital upped their price objective on Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Finally, Evercore ISI upped their price objective on Alphabet from $200.00 to $205.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Nine 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.