Barrett & Company Inc. Has $1.80 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Barrett & Company Inc. reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 37.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,886 shares of the information services provider’s stock after selling 7,627 shares during the quarter. Alphabet comprises 1.0% of Barrett & Company Inc.’s portfolio, making the stock its 22nd biggest position. Barrett & Company Inc.’s holdings in Alphabet were worth $1,800,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of GOOGL. Bornite Capital Management LP bought a new position in shares of Alphabet during the 1st quarter valued at about $16,688,000. Markel Corp lifted its holdings in shares of Alphabet by 17.0% during 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 in the last quarter. United Bank lifted its holdings in shares of Alphabet by 5.9% during 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Alphabet by 23.4% during 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 in the last quarter. Finally, Dakota Wealth Management lifted its holdings in shares of Alphabet by 20.4% during 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 in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GOOGL shares. Mizuho lifted their price objective on Alphabet from $155.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Susquehanna lifted their price objective on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Needham & Company LLC restated a “buy” rating and issued a $160.00 target price on shares of Alphabet in a research note on Wednesday, January 31st. Citigroup restated a “buy” rating and issued a $168.00 target price on shares of Alphabet in a research note on Wednesday. Finally, JMP Securities restated a “market outperform” rating and issued a $160.00 target price on shares of Alphabet in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $155.61.

Alphabet Stock Down 1.1 %

GOOGL stock opened at $157.73 on Friday. 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 has a market capitalization of $1.96 trillion, a PE ratio of 27.19, a PEG ratio of 1.44 and a beta of 1.05. Alphabet Inc. has a 1-year low of $102.63 and a 1-year high of $160.22. The business’s 50 day simple moving average is $145.33 and its 200 day simple moving average is $139.72.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data 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. 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 analyst estimates of $70.77 billion. During the same period in the prior year, the firm posted $1.05 EPS. As a group, research analysts anticipate that Alphabet Inc. will post 6.78 EPS for the current year.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the company’s 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 transaction, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the company’s 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 transaction, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the transaction, the senior vice president now directly owns 144,685 shares in the company, valued at $22,566,519.45. The disclosure for this sale can be found here. Insiders have sold a total of 250,539 shares of company stock valued at $35,906,259 in the last ninety days. 0.88% of the stock is currently owned by corporate insiders.

Alphabet Company Profile

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.