Alphabet Inc. (NASDAQ:GOOG) Stake Cut by Perfromance Wealth Partners LLC

Perfromance Wealth Partners LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 1.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 839,754 shares of the information services provider’s stock after selling 9,226 shares during the period. Alphabet accounts for 5.2% of Perfromance Wealth Partners LLC’s investment portfolio, making the stock its 5th largest position. Perfromance Wealth Partners LLC’s holdings in Alphabet were worth $118,347,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. Tandem Wealth Advisors LLC purchased a new stake in shares of Alphabet in the 3rd quarter valued at about $25,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Alphabet in the 4th quarter valued at about $26,000. HWG Holdings LP purchased a new stake in shares of Alphabet in the 2nd quarter valued at about $26,000. Intrepid Capital Management Inc. purchased a new stake in shares of Alphabet in the 2nd quarter valued at about $31,000. Finally, Buck Wealth Strategies LLC purchased a new stake in shares of Alphabet in the 3rd quarter valued at about $32,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GOOG. Susquehanna upped their price objective on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Raymond James upped their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $146.33.

View Our Latest Stock Report on GOOG

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 660 shares of the 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 sale was disclosed in a document filed with the SEC, which is available at this link. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the transaction, the chief accounting officer now directly owns 27,920 shares in the company, valued at approximately $4,009,032.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $143.49, for a total value of $28,698.00. Following the transaction, the director now owns 6,784 shares in the company, valued at $973,436.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 228,239 shares of company stock worth $32,432,382. 12.99% of the stock is currently owned by company insiders.

Alphabet Price Performance

NASDAQ:GOOG opened at $155.87 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The business has a 50 day simple moving average of $145.15 and a 200-day simple moving average of $139.74. Alphabet Inc. has a 1 year low of $102.38 and a 1 year high of $157.00. The firm has a market capitalization of $1.94 trillion, a price-to-earnings ratio of 26.87, a PEG ratio of 1.41 and a beta of 1.05.

Alphabet (NASDAQ:GOOGGet Free Report) last issued its quarterly 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. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The firm had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $85.28 billion. During the same period in the prior year, the business posted $1.05 earnings per share. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. Equities analysts forecast that Alphabet Inc. will post 6.77 EPS for the current year.

About Alphabet

(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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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