Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Sierra Capital LLC

Sierra Capital LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 17.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,961 shares of the information services provider’s stock after selling 412 shares during the quarter. Alphabet comprises approximately 0.9% of Sierra Capital LLC’s investment portfolio, making the stock its 29th biggest position. Sierra Capital LLC’s holdings in Alphabet were worth $5,454,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. International Assets Investment Management LLC increased its position in shares of Alphabet by 6.1% during the 4th quarter. International Assets Investment Management LLC now owns 3,356 shares of the information services provider’s stock worth $9,717,000 after purchasing an additional 192 shares during the last quarter. LSV Asset Management increased its position in shares of Alphabet by 1.4% during the 4th quarter. LSV Asset Management now owns 720 shares of the information services provider’s stock worth $2,086,000 after purchasing an additional 10 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of Alphabet by 1.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 99,919 shares of the information services provider’s stock worth $289,470,000 after purchasing an additional 1,790 shares during the last quarter. Graypoint LLC increased its position in shares of Alphabet by 12.1% during the 4th quarter. Graypoint LLC now owns 1,978 shares of the information services provider’s stock worth $5,730,000 after purchasing an additional 214 shares during the last quarter. Finally, 1900 Wealth Management LLC increased its position in shares of Alphabet by 29.1% during the 4th quarter. 1900 Wealth Management LLC now owns 346 shares of the information services provider’s stock worth $1,002,000 after purchasing an additional 78 shares during the last quarter. 41.70% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Down 1.3 %

NASDAQ:GOOGL opened at $114.86 on Tuesday. The firm has a market cap of $1.51 trillion, a P/E ratio of 21.37, a PEG ratio of 1.88 and a beta of 1.08. The company has a current ratio of 2.81, a quick ratio of 2.78 and a debt-to-equity ratio of 0.06. The stock’s 50 day simple moving average is $154.53 and its 200-day simple moving average is $138.55. Alphabet Inc. has a 12-month low of $101.88 and a 12-month high of $151.55.

Alphabet (NASDAQ:GOOGLGet Rating) last released its earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.11). Alphabet had a net margin of 25.89% and a return on equity of 28.65%. During the same period last year, the business posted $27.26 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 5.22 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GOOGL. JMP Securities lowered their target price on Alphabet from $165.00 to $160.00 and set a “market outperform” rating for the company in a report on Thursday, June 30th. Truist Financial lowered their target price on Alphabet from $150.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, July 27th. Rosenblatt Securities restated a “maintains” rating on shares of Alphabet in a report on Wednesday, July 27th. Citigroup lowered their target price on Alphabet from $145.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, July 27th. Finally, Canaccord Genuity Group lowered their target price on Alphabet from $175.00 to $165.00 and set a “buy” rating for the company in a report on Wednesday, April 27th. Five analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $147.29.

Insider Activity

In related news, Director Ann Mather sold 20 shares of the company’s stock in a transaction on Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total transaction of $47,666.40. Following the transaction, the director now owns 565 shares of the company’s stock, valued at $1,346,575.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, SVP Prabhakar Raghavan sold 1,109 shares of the business’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $2,166.74, for a total transaction of $2,402,914.66. Following the sale, the senior vice president now directly owns 1,608 shares in the company, valued at $3,484,117.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ann Mather sold 20 shares of the business’s stock in a transaction on Monday, June 27th. The stock was sold at an average price of $2,383.32, for a total value of $47,666.40. Following the sale, the director now owns 565 shares in the company, valued at $1,346,575.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,737 shares of company stock valued at $11,549,847. Company insiders own 11.44% of the company’s stock.

About Alphabet

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Alphabet Inc provides 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 offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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