Hayek Kallen Investment Management Sells 645 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Hayek Kallen Investment Management decreased its position in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 1.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,076 shares of the information services provider’s stock after selling 645 shares during the quarter. Alphabet comprises approximately 3.3% of Hayek Kallen Investment Management’s investment portfolio, making the stock its 4th biggest position. Hayek Kallen Investment Management’s holdings in Alphabet were worth $7,338,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Great Lakes Advisors LLC grew its position in shares of Alphabet by 18.1% in the third quarter. Great Lakes Advisors LLC now owns 959,136 shares of the information services provider’s stock valued at $125,513,000 after purchasing an additional 146,673 shares during the last quarter. RiverFront Investment Group LLC acquired a new stake in Alphabet during the third quarter worth approximately $219,000. Beacon Investment Advisors LLC grew its position in Alphabet by 1.0% during the third quarter. Beacon Investment Advisors LLC now owns 8,905 shares of the information services provider’s stock worth $1,165,000 after buying an additional 85 shares in the last quarter. Merit Financial Group LLC grew its position in Alphabet by 7.4% during the third quarter. Merit Financial Group LLC now owns 115,100 shares of the information services provider’s stock worth $15,062,000 after buying an additional 7,926 shares in the last quarter. Finally, Chartwell Investment Partners LLC grew its position in Alphabet by 17.3% during the third quarter. Chartwell Investment Partners LLC now owns 67,483 shares of the information services provider’s stock worth $8,831,000 after buying an additional 9,945 shares in the last quarter. Institutional investors and hedge funds own 35.08% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $147.53 on Tuesday. Alphabet Inc. has a fifty-two week low of $88.57 and a fifty-two week high of $153.78. The firm’s 50-day simple moving average is $141.08 and its 200 day simple moving average is $135.89. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The stock has a market cap of $1.85 trillion, a price-to-earnings ratio of 25.44, a PEG ratio of 1.38 and a beta of 1.06.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The firm 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 previous year, the business earned $1.05 EPS. As a group, research analysts anticipate that Alphabet Inc. will post 6.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of analyst reports. Needham & Company LLC reissued a “buy” rating and set a $160.00 price target on shares of Alphabet in a research report on Wednesday, January 31st. Wedbush restated an “outperform” rating and set a $160.00 target price on shares of Alphabet in a research note on Wednesday, January 31st. Redburn Atlantic upped their target price on Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Rosenblatt Securities cut their target price on Alphabet from $174.00 to $172.00 and set a “buy” rating for the company in a research note on Wednesday, January 31st. Finally, Citigroup upped their target price on Alphabet from $153.00 to $168.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $153.65.

Check Out Our Latest Analysis on Alphabet

Insider Activity

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 transaction 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 approximately $347,832,416.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the completion of the sale, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the sale, the chief executive officer now directly owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The disclosure for this sale can be found here. Insiders sold 136,974 shares of company stock worth $19,427,217 in the last three months. Corporate insiders own 0.88% of the company’s stock.

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, devices, 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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