Confluence Investment Management LLC Has $259,000 Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Confluence Investment Management LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 3.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,940 shares of the information services provider’s stock after selling 120 shares during the quarter. Confluence Investment Management LLC’s holdings in Alphabet were worth $259,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Bornite Capital Management LP acquired a new stake in Alphabet in the first quarter worth $16,688,000. Markel Corp grew its holdings in Alphabet by 17.0% in the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after purchasing an additional 2,250 shares during the period. United Bank grew its holdings in Alphabet by 5.9% in the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after purchasing an additional 113 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Alphabet by 23.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock worth $900,929,000 after purchasing an additional 61,427 shares during the period. Finally, Dakota Wealth Management grew its holdings in Alphabet by 20.4% in the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock worth $25,806,000 after purchasing an additional 1,570 shares during the period. 34.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GOOGL has been the subject of a number of research reports. Rosenblatt Securities reduced their price target on shares of Alphabet from $130.00 to $128.00 and set a “buy” rating for the company in a report on Friday, February 3rd. Barclays raised their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. MKM Partners raised their price objective on shares of Alphabet from $120.00 to $126.00 in a research note on Friday, February 3rd. KeyCorp dropped their price objective on shares of Alphabet from $118.00 to $117.00 and set an “overweight” rating on the stock in a research note on Monday, January 30th. Finally, Mizuho dropped their price objective on shares of Alphabet from $140.00 to $135.00 and set a “buy” rating on the stock in a research note on Wednesday, November 30th. Four research analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $132.44.

Alphabet Trading Up 1.3 %

NASDAQ:GOOGL opened at $101.62 on Friday. The company has a fifty day moving average of $95.08 and a 200 day moving average of $96.27. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $143.79. The company has a quick ratio of 2.34, a current ratio of 2.38 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $1.30 trillion, a P/E ratio of 22.33, a P/E/G ratio of 1.30 and a beta of 1.09.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The firm had revenue of $76.05 billion for the quarter, compared to the consensus estimate of $63.15 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. During the same quarter in the prior year, the company earned $1.53 earnings per share. On average, research analysts predict that Alphabet Inc. will post 5.12 earnings per share for the current year.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total transaction of $77,933.25. Following the transaction, the chief accounting officer now directly owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 855 shares of the business’s stock in a transaction on Wednesday, January 4th. The shares were sold at an average price of $91.15, for a total transaction of $77,933.25. Following the transaction, the chief accounting officer now directly owns 25,122 shares of the company’s stock, valued at approximately $2,289,870.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 37,500 shares of the company’s stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $100.00, for a total transaction of $3,750,000.00. Following the completion of the sale, the director now directly owns 144,740 shares in the company, valued at $14,474,000. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 74,245 shares of company stock valued at $7,174,078. 11.44% of the stock is currently owned by company insiders.

Alphabet Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.