Signet Financial Management LLC Cuts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Signet Financial Management LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,246 shares of the information services provider’s stock after selling 316 shares during the quarter. Signet Financial Management LLC’s holdings in Alphabet were worth $1,711,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC boosted its holdings in Alphabet by 5.6% in 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 purchasing an additional 12,070,681 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Alphabet by 4,894.1% in the 4th quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock valued at $7,606,670,000 after buying an additional 5,336,359 shares during the period. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of Alphabet in the third quarter valued at approximately $634,465,000. Ontario Teachers Pension Plan Board acquired a new position in Alphabet during the third quarter worth $601,545,000. Finally, Lone Pine Capital LLC purchased a new position in Alphabet in the third quarter worth $407,367,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In other Alphabet 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 value of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the transaction, the director now directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the sale, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 251,339 shares of company stock worth $36,377,482. 0.88% of the stock is currently owned by company insiders.

Alphabet Price Performance

Alphabet stock opened at $158.26 on Wednesday. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $1.97 trillion, a P/E ratio of 27.29, a PEG ratio of 1.42 and a beta of 1.05. The firm has a fifty day moving average of $146.69 and a 200-day moving average of $140.93. Alphabet Inc. has a 52-week low of $102.63 and a 52-week high of $160.22.

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

Analyst Upgrades and Downgrades

Several brokerages have commented on GOOGL. Roth Mkm decreased their target price on shares of Alphabet from $166.00 to $164.00 and set a “buy” rating on the stock in a research report on Wednesday, January 31st. Redburn Atlantic boosted their price objective on shares of Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. UBS Group increased their target price on shares of Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Barclays decreased their price target on Alphabet from $180.00 to $173.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 31st. Finally, JMP Securities restated a “market outperform” rating and issued a $160.00 price target on shares of Alphabet in a report on Wednesday, April 10th. Five equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $158.71.

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.