Lindbrook Capital LLC Reduces Holdings in Alphabet Inc. (NASDAQ:GOOG)

Lindbrook Capital LLC lessened its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 47,171 shares of the information services provider’s stock after selling 2,707 shares during the quarter. Alphabet accounts for 0.7% of Lindbrook Capital LLC’s holdings, making the stock its 27th largest holding. Lindbrook Capital LLC’s holdings in Alphabet were worth $6,648,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Tandem Wealth Advisors LLC bought a new stake in shares of Alphabet during the 3rd quarter valued at $25,000. Bruce G. Allen Investments LLC bought a new stake in shares of Alphabet during the 4th quarter valued at $26,000. HWG Holdings LP bought a new stake in shares of Alphabet during the 2nd quarter valued at $26,000. Equitec Proprietary Markets LLC bought a new stake in shares of Alphabet during the 4th quarter valued at $28,000. Finally, Buck Wealth Strategies LLC bought a new stake in shares of Alphabet during the 3rd quarter valued at $32,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 230 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the sale, the director now directly owns 15,104 shares in the company, valued at approximately $2,326,922.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Frances Arnold sold 230 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the sale, the director now directly owns 15,104 shares in the company, valued at approximately $2,326,922.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the sale, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock worth $36,377,482 in the last ninety days. 12.99% of the stock is owned by company insiders.

Alphabet Price Performance

Shares of Alphabet stock opened at $155.72 on Monday. 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 $1.94 trillion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05. The business’s 50-day moving average price is $147.46 and its 200-day moving average price is $141.97. Alphabet Inc. has a 12 month low of $103.27 and a 12 month high of $161.70.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $86.31 billion for the quarter, compared to analyst estimates of $85.28 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The company’s revenue was up 13.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.05 EPS. Sell-side analysts forecast that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on GOOG shares. Oppenheimer boosted their price objective on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Stifel Nicolaus upped their target price on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Raymond James upped their target price on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Susquehanna upped their target price on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Finally, Morgan Stanley restated an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Alphabet has an average rating of “Buy” and an average target price of $159.86.

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.