Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Destiny Wealth Partners LLC

Destiny Wealth Partners LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 2.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,569 shares of the information services provider’s stock after selling 147 shares during the period. Destiny Wealth Partners LLC’s holdings in Alphabet were worth $1,251,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Chicago Partners Investment Group LLC raised its position in shares of Alphabet by 46.9% in the fourth quarter. Chicago Partners Investment Group LLC now owns 84,232 shares of the information services provider’s stock valued at $16,458,000 after buying an additional 26,908 shares during the last quarter. Brewster Financial Planning LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at about $229,000. Scharf Investments LLC raised its position in shares of Alphabet by 6.4% in the fourth quarter. Scharf Investments LLC now owns 20,510 shares of the information services provider’s stock valued at $3,906,000 after buying an additional 1,240 shares during the last quarter. Total Clarity Wealth Management Inc. increased its position in Alphabet by 2.6% during the fourth quarter. Total Clarity Wealth Management Inc. now owns 2,649 shares of the information services provider’s stock worth $504,000 after purchasing an additional 66 shares during the last quarter. Finally, RHS Financial LLC acquired a new stake in Alphabet during the fourth quarter worth about $236,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 2.5 %

NASDAQ GOOG opened at $207.71 on Wednesday. The firm has a 50 day simple moving average of $191.14 and a 200-day simple moving average of $175.71. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a one year low of $131.55 and a one year high of $208.70. The firm has a market cap of $2.54 trillion, a price-to-earnings ratio of 27.55, a PEG ratio of 1.32 and a beta of 1.00.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. Equities research analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Insider Activity at Alphabet

In related news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $177.41, for a total value of $1,862,805.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the sale, the chief accounting officer now directly owns 23,515 shares in the company, valued at approximately $4,007,191.15. This trade represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 100,029 shares of company stock valued at $18,462,883 over the last 90 days. 12.99% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on GOOG. Canaccord Genuity Group raised their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group raised their price objective on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Wedbush restated an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a research report on Thursday, January 30th. Wells Fargo & Company raised their price objective on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Citigroup raised their price objective on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $209.13.

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.