Alphabet Inc. (NASDAQ:GOOGL) Stock Holdings Reduced by Progressive Investment Management Corp

Progressive Investment Management Corp lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,674 shares of the information services provider’s stock after selling 765 shares during the quarter. Alphabet makes up approximately 1.1% of Progressive Investment Management Corp’s holdings, making the stock its 28th biggest position. Progressive Investment Management Corp’s holdings in Alphabet were worth $3,866,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Live Oak Investment Partners bought a new stake in shares of Alphabet during the 4th quarter worth about $26,000. VitalStone Financial LLC boosted its stake in shares of Alphabet by 1,900.0% during the 2nd quarter. VitalStone Financial LLC now owns 280 shares of the information services provider’s stock worth $34,000 after acquiring an additional 266 shares in the last quarter. Sanctuary Wealth Management L.L.C. bought a new stake in shares of Alphabet during the 4th quarter worth about $34,000. Turim 21 Investimentos Ltda. bought a new stake in shares of Alphabet during the 3rd quarter worth about $38,000. Finally, Meritage Group LP boosted its stake in shares of Alphabet by 1,061.5% during the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after acquiring an additional 276 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the subject of several recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $160.00 price target on shares of Alphabet in a research note on Wednesday, January 31st. Susquehanna increased their target price on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Wedbush restated an “outperform” rating and set a $175.00 target price on shares of Alphabet in a research note on Wednesday. Mizuho increased their target price on Alphabet from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Finally, StockNews.com upgraded Alphabet from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 20th. Five analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $155.61.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the transaction, the chief accounting officer now owns 27,920 shares in the company, valued at approximately $4,009,032.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $142.14, for a total value of $3,198,150.00. Following the completion of the transaction, the chief executive officer now owns 2,400,191 shares in the company, valued at approximately $341,163,148.74. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 value 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 $4,009,032.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 250,539 shares of company stock worth $35,906,259. 0.88% of the stock is currently owned by insiders.

Alphabet Price Performance

Alphabet stock opened at $159.41 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The company has a market capitalization of $1.98 trillion, a PE ratio of 27.48, a price-to-earnings-growth ratio of 1.43 and a beta of 1.05. Alphabet Inc. has a one year low of $102.63 and a one year high of $159.68. The business has a 50 day simple moving average of $145.02 and a 200 day simple moving average of $139.53.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, January 30th. The information services provider reported $1.64 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 the consensus estimate of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same quarter last year, the company earned $1.05 EPS. On average, sell-side analysts forecast that Alphabet Inc. will post 6.77 EPS for the current fiscal 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.