Alphabet Inc. (NASDAQ:GOOGL) Stake Trimmed by Selway Asset Management

Selway Asset Management lowered its position in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 5.5% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 60,935 shares of the information services provider’s stock after selling 3,515 shares during the period. Alphabet accounts for approximately 3.5% of Selway Asset Management’s portfolio, making the stock its 4th biggest holding. Selway Asset Management’s holdings in Alphabet were worth $7,974,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Triad Financial Advisors Inc. raised its holdings in shares of Alphabet by 10.5% during the 3rd quarter. Triad Financial Advisors Inc. now owns 3,549 shares of the information services provider’s stock worth $464,000 after acquiring an additional 336 shares during the period. WealthPlan Investment Management LLC raised its holdings in shares of Alphabet by 17.0% during the 3rd quarter. WealthPlan Investment Management LLC now owns 13,891 shares of the information services provider’s stock worth $1,818,000 after acquiring an additional 2,017 shares during the period. Cadinha & Co. LLC raised its holdings in shares of Alphabet by 8.0% during the 3rd quarter. Cadinha & Co. LLC now owns 24,020 shares of the information services provider’s stock worth $3,143,000 after acquiring an additional 1,780 shares during the period. Nilsine Partners LLC raised its holdings in shares of Alphabet by 6.4% during the 3rd quarter. Nilsine Partners LLC now owns 24,082 shares of the information services provider’s stock worth $3,151,000 after acquiring an additional 1,450 shares during the period. Finally, Aspen Investment Management Inc raised its holdings in shares of Alphabet by 17.7% during the 3rd quarter. Aspen Investment Management Inc now owns 12,344 shares of the information services provider’s stock worth $1,615,000 after acquiring an additional 1,855 shares during the period. Hedge funds and other institutional investors own 35.08% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the topic of several analyst reports. Citigroup lifted their price target on Alphabet from $153.00 to $168.00 and gave the stock a “buy” rating in a report on Wednesday. JMP Securities raised their price objective on Alphabet from $150.00 to $160.00 and gave the stock a “market outperform” rating in a research report on Wednesday. KeyCorp raised their price objective on Alphabet from $153.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday. Barclays cut their price objective on Alphabet from $180.00 to $173.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Bank of America raised their price objective on Alphabet from $142.00 to $146.00 and gave the stock a “buy” rating in a research report on Wednesday, October 4th. Five equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $152.86.

View Our Latest Stock Report on Alphabet

Alphabet Price Performance

GOOGL stock opened at $140.10 on Thursday. The business has a 50 day moving average price of $139.45 and a 200 day moving average price of $134.61. The stock has a market cap of $1.75 trillion, a price-to-earnings ratio of 26.89, a PEG ratio of 1.35 and a beta of 1.05. Alphabet Inc. has a fifty-two week low of $88.57 and a fifty-two week high of $153.78. The company has a quick ratio of 2.01, a current ratio of 2.04 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. The firm had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. Alphabet had a return on equity of 25.24% and a net margin of 22.46%. During the same quarter in the previous year, the business earned $1.05 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 5.77 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $132.92, for a total value of $26,584.00. Following the completion of the sale, the director now owns 7,184 shares in the company, valued at $954,897.28. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 16,088 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $139.10, for a total value of $2,237,840.80. Following the completion of the sale, the senior vice president now owns 52,440 shares in the company, valued at $7,294,404. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $132.92, for a total value of $26,584.00. Following the completion of the sale, the director now owns 7,184 shares of the company’s stock, valued at approximately $954,897.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 189,439 shares of company stock worth $25,954,116. 0.88% of the stock is owned by insiders.

Alphabet Profile

(Free Report)

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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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