Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Cardinal Strategic Wealth Guidance

Cardinal Strategic Wealth Guidance lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 18.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,156 shares of the information services provider’s stock after selling 954 shares during the period. Cardinal Strategic Wealth Guidance’s holdings in Alphabet were worth $581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in GOOGL. FMR LLC raised its stake in Alphabet by 5.6% in the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after buying an additional 12,070,681 shares in the last quarter. Northern Trust Corp raised its position in shares of Alphabet by 3.7% during the 3rd quarter. Northern Trust Corp now owns 67,684,197 shares of the information services provider’s stock worth $8,857,154,000 after acquiring an additional 2,416,328 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Alphabet by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 34,035,275 shares of the information services provider’s stock worth $4,453,856,000 after acquiring an additional 335,219 shares in the last quarter. American Century Companies Inc. lifted its stake in Alphabet by 7.8% during the third quarter. American Century Companies Inc. now owns 25,064,614 shares of the information services provider’s stock worth $3,279,955,000 after purchasing an additional 1,809,910 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in Alphabet by 9.3% in the third quarter. Jennison Associates LLC now owns 24,145,417 shares of the information services provider’s stock valued at $3,159,669,000 after purchasing an additional 2,058,221 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Barclays cut their price objective on shares of Alphabet from $180.00 to $173.00 and set an “overweight” rating on the stock in a report on Wednesday, January 31st. KeyCorp boosted their price target on shares of Alphabet from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday. Truist Financial raised their price objective on Alphabet from $158.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Wells Fargo & Company reduced their target price on Alphabet from $144.00 to $141.00 and set an “equal weight” rating for the company in a report on Wednesday, April 3rd. Finally, Jefferies Financial Group raised their price target on Alphabet from $175.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Five analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $158.71.

Insider Activity at Alphabet

In other Alphabet news, Director Frances Arnold sold 230 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the transaction, the director now directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The sale was disclosed in a filing with the SEC, which is available at 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 sale, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock worth $36,377,482 over the last 90 days. Company insiders own 0.88% of the company’s stock.

Alphabet Stock Up 1.3 %

GOOGL opened at $158.26 on Wednesday. The business has a 50 day simple moving average of $146.69 and a 200-day simple moving average of $140.93. Alphabet Inc. has a 12 month low of $102.63 and a 12 month high of $160.22. The stock has a market capitalization of $1.97 trillion, a P/E ratio of 27.29, a P/E/G ratio of 1.42 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.

Alphabet (NASDAQ:GOOGL) last released its earnings results 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. The company 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 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 6.78 earnings per share 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.