Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by SVB Wealth LLC

SVB Wealth LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 226,548 shares of the information services provider’s stock after selling 13,803 shares during the quarter. Alphabet makes up approximately 0.8% of SVB Wealth LLC’s investment portfolio, making the stock its 23rd largest position. SVB Wealth LLC’s holdings in Alphabet were worth $31,647,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Meritage Group LP raised its stake in Alphabet by 1,061.5% in the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after purchasing an additional 276 shares during the last quarter. Macroview Investment Management LLC increased its stake in shares of Alphabet by 165.8% in the 3rd quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after acquiring an additional 199 shares during the last quarter. Armor Investment Advisors LLC increased its stake in shares of Alphabet by 31.0% in the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after acquiring an additional 80 shares during the last quarter. Valued Wealth Advisors LLC acquired a new stake in shares of Alphabet in the 4th quarter worth $55,000. Finally, LFA Lugano Financial Advisors SA increased its stake in shares of Alphabet by 301.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 522 shares of the information services provider’s stock worth $73,000 after acquiring an additional 392 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 completion of the transaction, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 completion of the transaction, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the transaction, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock valued at $36,377,482 over the last 90 days. 0.88% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Citigroup reaffirmed a “buy” rating and issued a $168.00 target price on shares of Alphabet in a research note on Wednesday, April 10th. Wolfe Research raised their target price on Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $160.00 target price on shares of Alphabet in a research note on Wednesday, January 31st. KeyCorp increased their price target on Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday. Finally, JMP Securities reiterated a “market outperform” rating and set a $160.00 price target on shares of Alphabet in a report on Wednesday, April 10th. Five investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $158.71.

Alphabet Trading Up 1.3 %

Shares of NASDAQ GOOGL opened at $158.26 on Wednesday. The stock has a market cap of $1.97 trillion, a price-to-earnings ratio of 27.29, a PEG ratio of 1.42 and a beta of 1.05. 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 52 week low of $102.63 and a 52 week high of $160.22. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results 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 business had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same quarter in the previous year, the business posted $1.05 EPS. On average, research analysts predict that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

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.