Greenspring Advisors LLC Cuts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Greenspring Advisors LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLGet Rating) by 36.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 177 shares of the information services provider’s stock after selling 101 shares during the period. Greenspring Advisors LLC’s holdings in Alphabet were worth $491,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Morling Financial Advisors LLC purchased a new position in shares of Alphabet in the 4th quarter worth $29,000. West Bancorporation Inc. purchased a new position in shares of Alphabet in the 4th quarter worth $29,000. Wealthgate Family Office LLC purchased a new position in shares of Alphabet in the 4th quarter worth $32,000. NS Partners Ltd purchased a new position in shares of Alphabet in the 4th quarter worth $41,000. Finally, AHL Investment Management Inc. purchased a new position in shares of Alphabet in the 4th quarter worth $46,000. 41.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on GOOGL shares. KeyCorp dropped their price target on Alphabet from $153.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 26th. Oppenheimer lowered their target price on Alphabet to $155.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 27th. Susquehanna Bancshares lowered their target price on Alphabet from $187.50 to $150.00 and set a “positive” rating on the stock in a research report on Wednesday, July 27th. Rosenblatt Securities lowered their target price on Alphabet from $205.00 to $154.00 and set a “buy” rating on the stock in a research report on Monday, July 25th. Finally, Wedbush lowered their target price on Alphabet from $190.00 to $155.65 in a research report on Wednesday, April 27th. Five analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.36.

Alphabet Stock Down 0.6 %

Shares of GOOGL opened at $117.47 on Friday. The company has a quick ratio of 2.78, a current ratio of 2.81 and a debt-to-equity ratio of 0.06. The business has a fifty day moving average of $155.27 and a 200 day moving average of $137.96. Alphabet Inc. has a 52-week low of $101.88 and a 52-week high of $151.55. The company has a market cap of $1.55 trillion, a PE ratio of 21.85, a P/E/G ratio of 1.91 and a beta of 1.08.

Alphabet (NASDAQ:GOOGLGet Rating) last released its earnings results on Tuesday, July 26th. The information services provider reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.11). Alphabet had a return on equity of 28.65% and a net margin of 25.89%. During the same period in the previous year, the business posted $27.26 earnings per share. On average, sell-side analysts expect that Alphabet Inc. will post 5.22 EPS for the current year.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 34,799 shares of the stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $118.25, for a total value of $4,114,981.75. Following the sale, the insider now owns 18,484 shares in the company, valued at $2,185,733. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider John Kent Walker sold 34,799 shares of the firm’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $118.25, for a total transaction of $4,114,981.75. Following the transaction, the insider now owns 18,484 shares in the company, valued at $2,185,733. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 1,109 shares of the firm’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $2,166.74, for a total value of $2,402,914.66. Following the transaction, the senior vice president now owns 1,608 shares in the company, valued at approximately $3,484,117.92. The disclosure for this sale can be found here. Insiders have sold a total of 42,383 shares of company stock worth $15,761,666 over the last quarter. Company insiders own 11.44% of the company’s stock.

Alphabet Company Profile

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Alphabet Inc provides 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 offers 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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