Steel Grove Capital Advisors LLC Sells 30,006 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Steel Grove Capital Advisors LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 18.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 133,149 shares of the information services provider’s stock after selling 30,006 shares during the period. Alphabet accounts for 2.5% of Steel Grove Capital Advisors LLC’s investment portfolio, making the stock its 5th largest position. Steel Grove Capital Advisors LLC’s holdings in Alphabet were worth $18,600,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bornite Capital Management LP acquired a new position in shares of Alphabet in the 1st quarter valued at $16,688,000. Markel Corp lifted its stake in shares of Alphabet by 17.0% in the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after purchasing an additional 2,250 shares during the last quarter. United Bank lifted its stake in shares of Alphabet by 5.9% in the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after purchasing an additional 113 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Alphabet by 23.4% in the 1st 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 purchasing an additional 61,427 shares during the last quarter. Finally, Dakota Wealth Management lifted its stake in shares of Alphabet by 20.4% in the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after purchasing an additional 1,570 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GOOGL. Wolfe Research upped their price target on Alphabet from $170.00 to $180.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. BMO Capital Markets upped their price target on Alphabet from $170.00 to $178.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Mizuho upped their price target on Alphabet from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Wedbush boosted their price objective on Alphabet from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Finally, Roth Mkm cut their price objective on Alphabet from $166.00 to $164.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. Five 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $155.48.

Get Our Latest Report on GOOGL

Alphabet Trading Up 0.0 %

NASDAQ:GOOGL opened at $150.93 on Friday. The stock has a 50-day simple moving average of $143.76 and a 200-day simple moving average of $138.31. The stock has a market cap of $1.88 trillion, a P/E ratio of 26.02, a P/E/G ratio of 1.39 and a beta of 1.04. Alphabet Inc. has a 1 year low of $99.78 and a 1 year high of $153.78. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10.

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

Insider Transactions at Alphabet

In other news, SVP Prabhakar Raghavan sold 16,088 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $139.10, for a total transaction of $2,237,840.80. Following the completion of the transaction, the senior vice president now directly owns 52,440 shares of the company’s stock, valued at approximately $7,294,404. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, SVP Prabhakar Raghavan sold 16,088 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $139.10, for a total value of $2,237,840.80. Following the completion of the sale, the senior vice president now directly owns 52,440 shares of the company’s stock, valued at approximately $7,294,404. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 425 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $139.61, for a total value of $59,334.25. Following the completion of the sale, the chief accounting officer now directly owns 27,259 shares of the company’s stock, valued at $3,805,628.99. The disclosure for this sale can be found here. In the last ninety days, insiders sold 263,312 shares of company stock valued at $37,268,315. 0.88% of the stock is currently owned by corporate insiders.

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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