Chicago Partners Investment Group LLC Reduces Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Chicago Partners Investment Group LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 3.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,176 shares of the information services provider’s stock after selling 1,220 shares during the period. Chicago Partners Investment Group LLC’s holdings in Alphabet were worth $3,786,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in GOOGL. Ellerson Group Inc. ADV acquired a new position in Alphabet in the fourth quarter valued at approximately $321,000. Camarda Financial Advisors LLC lifted its holdings in Alphabet by 29.1% in the fourth quarter. Camarda Financial Advisors LLC now owns 13,126 shares of the information services provider’s stock valued at $1,158,000 after acquiring an additional 2,955 shares during the last quarter. Rain Capital Management LLC acquired a new position in Alphabet in the fourth quarter valued at approximately $204,000. Miramar Capital LLC lifted its holdings in Alphabet by 20.8% in the fourth quarter. Miramar Capital LLC now owns 5,685 shares of the information services provider’s stock valued at $502,000 after acquiring an additional 980 shares during the last quarter. Finally, Kidder Stephen W lifted its stake in Alphabet by 0.9% during the fourth quarter. Kidder Stephen W now owns 103,205 shares of the information services provider’s stock worth $9,106,000 after purchasing an additional 968 shares in the last quarter. 34.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on GOOGL shares. Robert W. Baird upped their price target on Alphabet from $120.00 to $123.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. Bank of America upped their price target on Alphabet from $125.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, April 26th. Piper Sandler upped their price target on Alphabet from $117.00 to $128.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 26th. Roth Capital restated a “buy” rating on shares of Alphabet in a research note on Friday, February 3rd. Finally, Citigroup upped their price objective on Alphabet from $120.00 to $130.00 in a research report on Wednesday, April 26th. Four investment 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $130.06.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 75,000 shares of the business’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $120.01, for a total value of $9,000,750.00. Following the transaction, the director now owns 32,240 shares in the company, valued at approximately $3,869,122.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, Director Ann Mather sold 380 shares of the business’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $90.05, for a total value of $34,219.00. Following the transaction, the director now owns 11,300 shares in the company, valued at approximately $1,017,565. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 75,000 shares of the business’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $120.01, for a total transaction of $9,000,750.00. Following the completion of the sale, the director now directly owns 32,240 shares of the company’s stock, valued at approximately $3,869,122.40. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 732,217 shares of company stock worth $21,135,371 and have sold 601,450 shares worth $28,354,856. Company insiders own 0.88% of the company’s stock.

Alphabet Stock Down 0.1 %

Shares of GOOGL opened at $122.76 on Friday. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05. The firm has a market cap of $1.56 trillion, a PE ratio of 27.34, a price-to-earnings-growth ratio of 1.57 and a beta of 1.10. The company’s fifty day moving average is $106.43 and its two-hundred day moving average is $98.18. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $125.97.

Alphabet (NASDAQ:GOOGL – Get Rating) last posted its earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.11. The business had revenue of $69.79 billion for 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 quarter in the previous year, the business posted $1.23 EPS. Analysts forecast that Alphabet Inc. will post 5.41 earnings per share for the current year.

About Alphabet

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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.