Douglas Lane & Associates LLC Has $38.63 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Douglas Lane & Associates LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 276,529 shares of the information services provider’s stock after selling 29,278 shares during the period. Douglas Lane & Associates LLC’s holdings in Alphabet were worth $38,628,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the company. DE Burlo Group Inc. raised its position in shares of Alphabet by 520.0% in the 2nd quarter. DE Burlo Group Inc. now owns 96,498 shares of the information services provider’s stock valued at $11,551,000 after buying an additional 80,934 shares in the last quarter. West Tower Group LLC bought a new stake in shares of Alphabet during the second quarter worth about $88,000. Ballast Advisors LLC increased its position in Alphabet by 9.6% in the 3rd quarter. Ballast Advisors LLC now owns 15,747 shares of the information services provider’s stock valued at $2,061,000 after acquiring an additional 1,385 shares during the period. Quantum Financial Advisors LLC increased its stake in shares of Alphabet by 8.0% in the third quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock valued at $998,000 after buying an additional 564 shares during the period. Finally, Acadian Asset Management LLC raised its holdings in Alphabet by 2.4% during the 3rd quarter. Acadian Asset Management LLC now owns 4,416,533 shares of the information services provider’s stock worth $577,908,000 after purchasing an additional 104,366 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on GOOGL shares. Redburn Atlantic boosted their price target on Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. JMP Securities raised their price target on shares of Alphabet from $150.00 to $160.00 and gave the company a “market outperform” rating in a research report on Wednesday, January 31st. Rosenblatt Securities cut their price objective on Alphabet from $174.00 to $172.00 and set a “buy” rating on the stock in a research report on Wednesday, January 31st. Citigroup raised their price target on shares of Alphabet from $153.00 to $168.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Finally, BMO Capital Markets lifted their target price on shares of Alphabet from $170.00 to $178.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $155.48.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $148.78, for a total transaction of $3,347,550.00. Following the completion of the transaction, the chief executive officer now directly owns 2,310,191 shares in the company, valued at $343,710,216.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $148.78, for a total value of $3,347,550.00. Following the completion of the sale, the chief executive officer now owns 2,310,191 shares of the company’s stock, valued at approximately $343,710,216.98. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the transaction, the chief financial officer now directly owns 1,777,106 shares in the company, valued at $243,854,485.32. The disclosure for this sale can be found here. Insiders have sold 251,378 shares of company stock valued at $35,461,377 in the last three months. 0.88% of the stock is currently owned by company insiders.

Alphabet Price Performance

GOOGL stock opened at $150.87 on Thursday. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The firm’s 50-day moving average price is $143.33 and its two-hundred day moving average price is $138.03. The stock has a market capitalization of $1.88 trillion, a price-to-earnings ratio of 26.01, a PEG ratio of 1.39 and a beta of 1.04. Alphabet Inc. has a 12-month low of $99.74 and a 12-month high of $153.78.

Alphabet (NASDAQ:GOOGL) last posted 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. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The firm had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $70.77 billion. During the same quarter in the prior year, the business earned $1.05 EPS. As a group, equities analysts predict that Alphabet Inc. will post 6.77 earnings per share for the current year.

About Alphabet

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.