Sterling Investment Advisors Ltd. Sells 1,695 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Sterling Investment Advisors Ltd. lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 2.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 65,389 shares of the information services provider’s stock after selling 1,695 shares during the period. Alphabet accounts for 3.0% of Sterling Investment Advisors Ltd.’s investment portfolio, making the stock its 5th largest position. Sterling Investment Advisors Ltd.’s holdings in Alphabet were worth $8,557,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOOGL. Vanguard Group Inc. raised its holdings in shares of Alphabet by 1,919.4% in the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock valued at $45,628,484,000 after buying an additional 453,413,389 shares during the period. State Street Corp increased its holdings in Alphabet by 1,900.6% during the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after purchasing an additional 206,300,042 shares during the period. Moneta Group Investment Advisors LLC increased its holdings in Alphabet by 111,197.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock worth $15,036,178,000 after purchasing an additional 170,267,122 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Alphabet by 1,759.2% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock worth $11,106,502,000 after purchasing an additional 109,870,525 shares during the period. Finally, Norges Bank purchased a new stake in Alphabet during the 4th quarter worth about $8,335,063,000. Hedge funds and other institutional investors own 35.08% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the transaction, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the transaction, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $141.43, for a total value of $3,182,175.00. Following the sale, the chief executive officer now owns 2,407,688 shares in the company, valued at approximately $340,519,313.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 114,674 shares of company stock valued at $16,162,276. Corporate insiders own 0.88% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $145.54 on Thursday. The company has a market cap of $1.82 trillion, a price-to-earnings ratio of 25.09, a price-to-earnings-growth ratio of 1.33 and a beta of 1.06. The stock has a 50 day simple moving average of $140.11 and a 200-day simple moving average of $135.36. Alphabet Inc. has a 12-month low of $88.57 and a 12-month high of $153.78. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05.

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

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several analyst reports. Wolfe Research upped their price objective on Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. StockNews.com raised Alphabet from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 20th. Monness Crespi & Hardt cut Alphabet from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $160.00 price objective on shares of Alphabet in a research report on Wednesday, January 31st. Finally, Susquehanna upped their price objective on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $153.65.

Check Out Our Latest Analysis on GOOGL

About Alphabet

(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

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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