Bank of Marin Lowers Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Bank of Marin reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 4.7% in the third quarter, HoldingsChannel reports. The fund owned 16,211 shares of the information services provider’s stock after selling 799 shares during the period. Alphabet accounts for 2.1% of Bank of Marin’s portfolio, making the stock its 9th biggest holding. Bank of Marin’s holdings in Alphabet were worth $2,121,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Clearstead Advisors LLC lifted its position in Alphabet by 12.5% during the 3rd quarter. Clearstead Advisors LLC now owns 150,287 shares of the information services provider’s stock valued at $19,667,000 after acquiring an additional 16,718 shares during the period. Metis Global Partners LLC lifted its position in Alphabet by 17.7% during the 3rd quarter. Metis Global Partners LLC now owns 255,623 shares of the information services provider’s stock valued at $33,451,000 after acquiring an additional 38,362 shares during the period. First County Bank CT lifted its position in Alphabet by 6.2% during the 3rd quarter. First County Bank CT now owns 25,236 shares of the information services provider’s stock valued at $3,302,000 after acquiring an additional 1,482 shares during the period. Glass Jacobson Investment Advisors llc lifted its position in Alphabet by 17.8% during the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 2,564 shares of the information services provider’s stock valued at $336,000 after acquiring an additional 388 shares during the period. Finally, Mycio Wealth Partners LLC lifted its position in Alphabet by 184.0% during the 3rd quarter. Mycio Wealth Partners LLC now owns 5,680 shares of the information services provider’s stock valued at $743,000 after acquiring an additional 3,680 shares during the period. 35.08% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total value of $3,291,525.00. Following the completion of the transaction, the chief executive officer now directly owns 2,377,691 shares in the company, valued at $347,832,416.39. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total value of $3,291,525.00. Following the transaction, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Kent Walker sold 28,281 shares of the business’s stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $141.40, for a total transaction of $3,998,933.40. Following the completion of the transaction, the insider now directly owns 25,002 shares in the company, valued at approximately $3,535,282.80. The disclosure for this sale can be found here. Insiders sold a total of 136,974 shares of company stock worth $19,427,217 over the last three months. 0.88% of the stock is currently owned by company insiders.

Alphabet Stock Performance

GOOGL opened at $149.00 on Friday. The firm has a market cap of $1.86 trillion, a P/E ratio of 25.69, a PEG ratio of 1.35 and a beta of 1.06. Alphabet Inc. has a 1-year low of $88.57 and a 1-year high of $153.78. The company has a 50 day simple moving average of $140.72 and a two-hundred day simple moving average of $135.72. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its quarterly 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 business had revenue of $86.31 billion during the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. During the same period in the prior year, the business posted $1.05 earnings per share. Equities analysts forecast that Alphabet Inc. will post 6.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GOOGL. Citigroup lifted their target price on shares of Alphabet from $153.00 to $168.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Roth Mkm decreased their target price on shares of Alphabet from $166.00 to $164.00 and set a “buy” 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 report on Wednesday, October 25th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $155.00 target price on shares of Alphabet in a report on Wednesday, January 31st. Finally, Wolfe Research lifted their target price on shares of Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $153.65.

Check Out Our Latest Stock 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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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