Wealth Effects LLC Sells 171 Shares of Alphabet Inc. (NASDAQ:GOOG)

Wealth Effects LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOG) by 3.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,275 shares of the information services provider’s stock after selling 171 shares during the period. Wealth Effects LLC’s holdings in Alphabet were worth $1,005,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Weiss Asset Management LP purchased a new stake in shares of Alphabet in the third quarter worth $25,000. Safe Harbor Fiduciary LLC bought a new position in Alphabet in the 3rd quarter worth $33,000. Sanctuary Wealth Management L.L.C. increased its stake in Alphabet by 87.3% in the 3rd quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after buying an additional 117 shares in the last quarter. Iron Horse Wealth Management LLC raised its holdings in Alphabet by 32.3% during the third quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock valued at $57,000 after acquiring an additional 84 shares during the period. Finally, Kieckhefer Group LLC purchased a new position in shares of Alphabet in the fourth quarter valued at about $76,000. 27.26% of the stock is owned by institutional investors.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the transaction, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. This trade represents a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frances Arnold sold 441 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the sale, the director now owns 16,490 shares of the company’s stock, valued at $2,820,779.40. The trade was a 2.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 121,630 shares of company stock valued at $22,258,133 in the last quarter. 12.99% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on GOOG. Wedbush reiterated an “outperform” rating and set a $220.00 target price on shares of Alphabet in a research report on Thursday. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. UBS Group upped their target price on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group lifted their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $209.13.

Alphabet Stock Performance

Shares of NASDAQ:GOOG opened at $205.60 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.52 trillion, a price-to-earnings ratio of 27.27, a PEG ratio of 1.27 and a beta of 0.99. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $207.08. The firm’s 50-day moving average is $189.70 and its 200 day moving average is $175.54.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. During the same period in the prior year, the business posted $1.55 earnings per share. The company’s revenue for the quarter was up 15.1% on a year-over-year basis. Research analysts predict that Alphabet Inc. will post 8.02 EPS for the current 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.