WESPAC Advisors LLC Sells 170 Shares of Alphabet Inc. (NASDAQ:GOOGL)

WESPAC Advisors LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,358 shares of the information services provider’s stock after selling 170 shares during the period. Alphabet comprises 1.8% of WESPAC Advisors LLC’s investment portfolio, making the stock its 10th biggest holding. WESPAC Advisors LLC’s holdings in Alphabet were worth $2,564,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Alphabet by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 487,435,495 shares of the information services provider’s stock worth $63,785,809,000 after purchasing an additional 1,302,104 shares in the last quarter. FMR LLC grew its position in shares of Alphabet by 5.6% during the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after acquiring an additional 12,070,681 shares during the period. State Street Corp grew its position in shares of Alphabet by 1,900.6% during the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after acquiring an additional 206,300,042 shares during the period. Moneta Group Investment Advisors LLC grew its position in shares of Alphabet by 111,197.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock valued at $15,036,178,000 after acquiring an additional 170,267,122 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Alphabet by 1.3% during the 1st quarter. Geode Capital Management LLC now owns 118,576,618 shares of the information services provider’s stock valued at $12,271,705,000 after acquiring an additional 1,499,107 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on GOOGL shares. Roth Mkm cut their price objective on shares of Alphabet from $166.00 to $164.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. Wells Fargo & Company cut their price objective on shares of Alphabet from $144.00 to $141.00 and set an “equal weight” rating for the company in a report on Wednesday, April 3rd. Wedbush reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Alphabet in a report on Wednesday, April 10th. StockNews.com raised shares of Alphabet from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 20th. Finally, Susquehanna raised their price objective on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $156.64.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the sale, the director now owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Alphabet news, 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 sale, the director now owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the sale, the director now directly owns 7,991 shares in the company, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 228,839 shares of company stock valued at $32,835,757. Insiders own 0.88% of the company’s stock.

Alphabet Price Performance

GOOGL stock opened at $154.40 on Wednesday. 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 Inc. has a 52 week low of $102.63 and a 52 week high of $160.22. The firm’s fifty day moving average is $145.76 and its 200 day moving average is $140.19. The firm has a market cap of $1.92 trillion, a P/E ratio of 26.62, a P/E/G ratio of 1.46 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last released its 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. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. During the same quarter last year, the firm earned $1.05 EPS. Research analysts predict that Alphabet Inc. will post 6.78 earnings per share for the current 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.