Impax Asset Management Group plc Sells 16,475 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Impax Asset Management Group plc decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 777,581 shares of the information services provider’s stock after selling 16,475 shares during the quarter. Impax Asset Management Group plc’s holdings in Alphabet were worth $108,620,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Live Oak Investment Partners bought a new position in shares of Alphabet during the fourth quarter valued at $26,000. Sanctuary Wealth Management L.L.C. bought a new position in shares of Alphabet during the fourth quarter valued at $34,000. Turim 21 Investimentos Ltda. bought a new position in shares of Alphabet during the third quarter valued at $38,000. Meritage Group LP increased its holdings in shares of Alphabet by 1,061.5% during the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after acquiring an additional 276 shares in the last quarter. Finally, Macroview Investment Management LLC increased its holdings in shares of Alphabet by 165.8% during the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 199 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on GOOGL. JMP Securities reaffirmed a “market outperform” rating and set a $160.00 price objective on shares of Alphabet in a research report on Wednesday, April 10th. Citigroup reaffirmed a “buy” rating and set a $168.00 price objective on shares of Alphabet in a research report on Wednesday, April 10th. Truist Financial dropped their price objective on Alphabet from $160.00 to $158.00 and set a “buy” rating on the stock in a research report on Wednesday, January 31st. KeyCorp increased their price objective on Alphabet from $153.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, January 29th. Finally, UBS Group increased their price objective on Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $156.64.

Alphabet Stock Down 0.3 %

Shares of GOOGL opened at $154.40 on Wednesday. The business’s 50 day moving average is $145.76 and its 200 day moving average is $140.19. The company has a market capitalization of $1.92 trillion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 1.46 and a beta of 1.05. Alphabet Inc. has a 12-month low of $102.63 and a 12-month high of $160.22. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $86.31 billion for 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. Research analysts expect that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In other news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the sale, the director now directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the sale, the director now directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 27,920 shares in the company, valued at $4,009,032.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 228,839 shares of company stock valued at $32,835,757. 0.88% of the stock is owned by company 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.