HBW Advisory Services LLC Reduces Position in Alphabet Inc. (NASDAQ:GOOGL)

HBW Advisory Services LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,710 shares of the information services provider’s stock after selling 342 shares during the quarter. Alphabet makes up approximately 0.7% of HBW Advisory Services LLC’s portfolio, making the stock its 28th biggest position. HBW Advisory Services LLC’s holdings in Alphabet were worth $4,290,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GOOGL. Bornite Capital Management LP bought a new position in shares of Alphabet during the first quarter valued at approximately $16,688,000. Markel Corp raised its holdings in shares of Alphabet by 17.0% during the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after acquiring an additional 2,250 shares in the last quarter. United Bank raised its holdings in shares of Alphabet by 5.9% during the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after acquiring an additional 113 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Alphabet by 23.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after acquiring an additional 61,427 shares in the last quarter. Finally, Dakota Wealth Management raised its holdings in shares of Alphabet by 20.4% during the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after acquiring an additional 1,570 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 0.4 %

Alphabet stock opened at $150.67 on Wednesday. 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 Inc. has a one year low of $99.74 and a one year high of $153.78. The stock has a market capitalization of $1.87 trillion, a PE ratio of 25.98, a price-to-earnings-growth ratio of 1.39 and a beta of 1.04. The business’s fifty day moving average is $143.17 and its 200 day moving average is $137.93.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The company had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $70.77 billion. During the same period last year, the firm posted $1.05 earnings per share. On average, sell-side analysts predict that Alphabet Inc. will post 6.77 EPS for the current year.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the transaction, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider John Kent Walker sold 28,281 shares of the firm’s stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $141.40, for a total value of $3,998,933.40. Following the transaction, the insider now owns 25,002 shares of the company’s stock, valued at $3,535,282.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 279,659 shares of company stock valued at $39,460,310. Insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on GOOGL shares. BMO Capital Markets upped their target price on Alphabet from $170.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Susquehanna upped their target price on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Wedbush increased their price objective on Alphabet from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. JMP Securities increased their price objective on Alphabet from $150.00 to $160.00 and gave the stock a “market outperform” rating in a report on Wednesday, January 31st. Finally, Wolfe Research increased their price objective on Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.48.

View Our Latest Stock Report 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, 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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