Simplicity Solutions LLC Reduces Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Simplicity Solutions LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 174,928 shares of the information services provider’s stock after selling 5,255 shares during the quarter. Alphabet accounts for approximately 0.7% of Simplicity Solutions LLC’s holdings, making the stock its 25th largest holding. Simplicity Solutions LLC’s holdings in Alphabet were worth $24,653,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of GOOG. Tandem Wealth Advisors LLC purchased a new stake in Alphabet during the 3rd quarter worth approximately $25,000. Bruce G. Allen Investments LLC purchased a new stake in Alphabet during the 4th quarter worth approximately $26,000. HWG Holdings LP purchased a new stake in Alphabet during the 2nd quarter worth approximately $26,000. Buck Wealth Strategies LLC purchased a new stake in Alphabet during the 3rd quarter worth approximately $32,000. Finally, Barometer Capital Management Inc. purchased a new stake in Alphabet during the 3rd quarter worth approximately $32,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Trading Down 1.8 %

NASDAQ:GOOG opened at $156.33 on Tuesday. Alphabet Inc. has a 12-month low of $103.27 and a 12-month high of $161.70. The firm has a market capitalization of $1.94 trillion, a P/E ratio of 26.95, a P/E/G ratio of 1.47 and a beta of 1.05. 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 business has a 50 day simple moving average of $146.73 and a 200 day simple moving average of $141.34.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (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 business had revenue of $86.31 billion during the quarter, compared to analyst estimates of $85.28 billion. During the same quarter in the previous year, the firm posted $1.05 EPS. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. Equities research analysts predict that Alphabet Inc. will post 6.78 EPS for the current year.

Analyst Ratings Changes

Several research firms have issued reports on GOOG. Raymond James lifted their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Oppenheimer lifted their price objective on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Finally, Susquehanna boosted their price target on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Alphabet presently has an average rating of “Buy” and a consensus target price of $157.50.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $142.14, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the company’s 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 sale, the chief executive officer now owns 2,400,191 shares in the company, valued at $341,163,148.74. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the sale, the director now owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 251,339 shares of company stock worth $36,033,907. 12.99% of the stock is owned by company insiders.

Alphabet 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.