Sycomore Asset Management Lowers Stake in Alphabet Inc. (NASDAQ:GOOGL)

Sycomore Asset Management reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 8.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 62,771 shares of the information services provider’s stock after selling 5,433 shares during the quarter. Alphabet accounts for about 1.5% of Sycomore Asset Management’s investment portfolio, making the stock its 20th biggest holding. Sycomore Asset Management’s holdings in Alphabet were worth $5,601,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GOOGL. IAG Wealth Partners LLC increased its stake in Alphabet by 3,275.0% during the 3rd quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock valued at $26,000 after purchasing an additional 262 shares in the last quarter. Artemis Wealth Advisors LLC increased its stake in Alphabet by 1,900.0% during the 3rd quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock valued at $27,000 after purchasing an additional 266 shares in the last quarter. Laurel Wealth Planning LLC increased its stake in Alphabet by 1,900.0% during the 3rd quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 285 shares in the last quarter. Coston McIsaac & Partners increased its stake in Alphabet by 1,900.0% during the 3rd quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 304 shares in the last quarter. Finally, Horizons Wealth Management bought a new stake in Alphabet during the 2nd quarter valued at about $33,000. 34.06% of the stock is currently owned by institutional investors.

Alphabet Price Performance

GOOGL stock opened at $101.62 on Friday. Alphabet Inc. has a one year low of $83.34 and a one year high of $143.79. The company’s fifty day moving average price is $95.08 and its 200-day moving average price is $96.27. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.34 and a current ratio of 2.38. The company has a market capitalization of $1.30 trillion, a PE ratio of 22.33, a price-to-earnings-growth ratio of 1.30 and a beta of 1.09.

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

Insider Buying and Selling

In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of Alphabet stock in a transaction that occurred on Monday, March 13th. The shares were bought at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the transaction, the insider now owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of Alphabet stock in a transaction that occurred on Monday, March 13th. The shares were bought at an average price of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the transaction, the insider now owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 owns 25,122 shares in the company, valued at approximately $2,289,870.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 74,245 shares of company stock worth $7,174,078. Insiders own 11.44% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of research analyst reports. Roth Capital reiterated a “buy” rating on shares of Alphabet in a research note on Friday, February 3rd. Barclays lifted their price target on shares of Alphabet from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. KeyCorp reduced their price target on shares of Alphabet from $118.00 to $117.00 and set an “overweight” rating for the company in a research note on Monday, January 30th. BNP Paribas upgraded shares of Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 price target for the company in a research note on Friday. Finally, Loop Capital lifted their price target on shares of Alphabet from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, February 8th. Four equities research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $132.44.

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.