LGT Group Foundation Sells 39,822 Shares of Alphabet Inc. (NASDAQ:GOOGL)

LGT Group Foundation cut its holdings in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 3.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,202,300 shares of the information services provider’s stock after selling 39,822 shares during the period. Alphabet makes up 4.0% of LGT Group Foundation’s investment portfolio, making the stock its 3rd largest position. LGT Group Foundation’s holdings in Alphabet were worth $161,313,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of GOOGL. Spreng Capital Management Inc. increased its holdings in shares of Alphabet by 4.0% during the 1st quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock worth $364,000 after buying an additional 5 shares during the last quarter. Maple Capital Management Inc. increased its holdings in Alphabet by 2.1% in the 1st quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock valued at $823,000 after purchasing an additional 6 shares in the last quarter. West Family Investments Inc. increased its holdings in Alphabet by 0.3% in the 1st quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after purchasing an additional 6 shares in the last quarter. Private Advisory Group LLC increased its holdings in Alphabet by 1.8% in the 1st quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock valued at $1,115,000 after purchasing an additional 7 shares in the last quarter. Finally, Weik Capital Management increased its holdings in Alphabet by 0.5% in the 1st quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after purchasing an additional 8 shares in the last quarter. 35.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $132.92, for a total transaction of $26,584.00. Following the completion of the sale, the director now directly owns 7,184 shares in the company, valued at $954,897.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $132.92, for a total value of $26,584.00. Following the completion of the transaction, the director now owns 7,184 shares of the company’s stock, valued at approximately $954,897.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 16,088 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $139.10, for a total transaction of $2,237,840.80. Following the completion of the transaction, the senior vice president now directly owns 52,440 shares of the company’s stock, valued at approximately $7,294,404. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 114,674 shares of company stock worth $16,162,276. Corporate insiders own 0.88% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOGL opened at $144.10 on Wednesday. Alphabet Inc. has a 12 month low of $88.57 and a 12 month high of $153.78. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The firm has a market capitalization of $1.80 trillion, a PE ratio of 24.84, a P/E/G ratio of 1.33 and a beta of 1.06. The company’s 50 day simple moving average is $139.90 and its 200 day simple moving average is $135.29.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. During the same period last year, the firm posted $1.05 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 6.76 EPS for the current fiscal year.

Wall Street Analyst Weigh In

GOOGL has been the subject of several recent research reports. Barclays lowered their price target on Alphabet from $180.00 to $173.00 and set an “overweight” rating for the company in a report on Wednesday, January 31st. Monness Crespi & Hardt cut shares of Alphabet from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 25th. Wolfe Research upped their price objective on shares of Alphabet from $170.00 to $180.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. BMO Capital Markets upped their price objective on shares of Alphabet from $170.00 to $178.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Finally, Wedbush reissued an “outperform” rating and issued a $160.00 price objective on shares of Alphabet in a research report on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $153.65.

Get Our Latest Stock Analysis on GOOGL

Alphabet Profile

(Free Report)

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Further Reading

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGLFree Report).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.