Hollencrest Capital Management Lowers Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Hollencrest Capital Management cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 17.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 29,290 shares of the information services provider’s stock after selling 6,010 shares during the period. Hollencrest Capital Management’s holdings in Alphabet were worth $2,584,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Willow Creek Wealth Management Inc. lifted its holdings in shares of Alphabet by 1,926.9% during the 3rd quarter. Willow Creek Wealth Management Inc. now owns 18,546 shares of the information services provider’s stock valued at $1,774,000 after acquiring an additional 17,631 shares in the last quarter. Bfsg LLC lifted its holdings in shares of Alphabet by 160.5% during the 4th quarter. Bfsg LLC now owns 8,075 shares of the information services provider’s stock valued at $712,000 after acquiring an additional 4,975 shares in the last quarter. Ibex Investors LLC acquired a new position in shares of Alphabet during the 4th quarter valued at $2,617,000. Arjuna Capital lifted its holdings in shares of Alphabet by 2.8% during the 4th quarter. Arjuna Capital now owns 127,545 shares of the information services provider’s stock valued at $11,253,000 after acquiring an additional 3,427 shares in the last quarter. Finally, Bridgewater Advisors Inc. lifted its holdings in shares of Alphabet by 3,005.0% during the 3rd quarter. Bridgewater Advisors Inc. now owns 67,503 shares of the information services provider’s stock valued at $6,457,000 after acquiring an additional 65,329 shares in the last quarter. 34.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In related news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of Alphabet stock in a transaction dated Monday, March 13th. The stock was bought at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the purchase, the insider now owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In related news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of Alphabet stock in a transaction dated Monday, March 13th. The stock was bought at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the purchase, the insider now owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Kavitark Ram Shriram sold 37,500 shares of the stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $100.00, for a total transaction of $3,750,000.00. Following the sale, the director now directly owns 144,740 shares of the company’s stock, valued at $14,474,000. The disclosure for this sale can be found here. In the last three months, insiders sold 138,039 shares of company stock valued at $14,153,031. Company insiders own 11.44% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of recent analyst reports. UBS Group boosted their price objective on shares of Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a report on Thursday, April 6th. Barclays boosted their price objective on shares of Alphabet from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $115.00 price objective on shares of Alphabet in a report on Monday, April 3rd. Bank of America boosted their price objective on shares of Alphabet from $125.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, April 26th. Finally, Credit Suisse Group cut their price objective on shares of Alphabet from $136.00 to $135.00 and set an “outperform” rating on the stock in a report on Wednesday, April 26th. Three investment analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $130.06.

Alphabet Price Performance

NASDAQ GOOGL opened at $105.57 on Monday. Alphabet Inc. has a 52 week low of $83.34 and a 52 week high of $122.43. The company has a current ratio of 2.35, a quick ratio of 2.32 and a debt-to-equity ratio of 0.05. The stock has a market cap of $1.34 trillion, a price-to-earnings ratio of 23.51, a price-to-earnings-growth ratio of 1.34 and a beta of 1.10. The company has a 50-day moving average price of $101.61 and a two-hundred day moving average price of $96.85.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. The company had revenue of $69.79 billion during the quarter, compared to analyst estimates of $57.19 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. During the same period in the prior year, the business posted $1.23 EPS. Analysts forecast that Alphabet Inc. will post 5.39 EPS for the current year.

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.