Alphabet Inc. (NASDAQ:GOOGL) Stock Position Lowered by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 6.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,392,657 shares of the information services provider’s stock after selling 287,117 shares during the period. Alphabet makes up 1.6% of Chevy Chase Trust Holdings LLC’s portfolio, making the stock its 6th biggest position. Chevy Chase Trust Holdings LLC’s holdings in Alphabet were worth $387,564,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Sawgrass Asset Management LLC grew its holdings in Alphabet by 25.0% during the 4th quarter. Sawgrass Asset Management LLC now owns 245,569 shares of the information services provider’s stock valued at $21,667,000 after purchasing an additional 49,139 shares in the last quarter. Baltimore Washington Financial Advisors Inc. boosted its stake in Alphabet by 0.7% in the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 74,137 shares of the information services provider’s stock valued at $6,541,000 after acquiring an additional 529 shares during the period. Lwmg LLC acquired a new position in Alphabet in the fourth quarter valued at approximately $369,000. Qsemble Capital Management LP acquired a new position in Alphabet in the fourth quarter valued at approximately $521,000. Finally, RiverGlades Family Offices LLC acquired a new position in Alphabet in the fourth quarter valued at approximately $508,000. 34.06% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $122.76 on Monday. Alphabet Inc. has a 12-month low of $83.34 and a 12-month high of $125.97. 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 capitalization of $1.56 trillion, a PE ratio of 27.34, a price-to-earnings-growth ratio of 1.56 and a beta of 1.10. The firm has a 50-day moving average price of $106.43 and a 200 day moving average price of $98.26.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.11. The firm had revenue of $69.79 billion for the quarter, compared to analysts’ expectations 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 firm earned $1.23 earnings per share. Research analysts anticipate that Alphabet Inc. will post 5.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. MKM Partners lifted their target price on Alphabet from $120.00 to $126.00 in a research note on Friday, February 3rd. UBS Group boosted their price objective on Alphabet from $120.00 to $123.00 and gave the stock a “buy” rating in a research report on Thursday, April 6th. Raymond James boosted their target price on Alphabet from $119.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Needham & Company LLC reissued a “buy” rating and set a $115.00 target price on shares of Alphabet in a report on Monday, April 3rd. Finally, Truist Financial boosted their target price on Alphabet from $120.00 to $122.00 and gave the stock a “buy” rating in a report on Wednesday, April 26th. Four equities research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $130.06.

Insiders Place Their Bets

In other news, Director Ann Mather sold 380 shares of the stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $90.05, for a total transaction of $34,219.00. Following the sale, the director now directly owns 11,300 shares of the company’s stock, valued at $1,017,565. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 637 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $90.15, for a total value of $57,425.55. Following the transaction, the chief accounting officer now directly owns 25,442 shares of the company’s stock, valued at $2,293,596.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ann Mather sold 380 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $90.05, for a total transaction of $34,219.00. Following the completion of the transaction, the director now directly owns 11,300 shares in the company, valued at $1,017,565. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 732,217 shares of company stock valued at $21,135,371 and have sold 601,450 shares valued at $28,354,856. Insiders own 0.88% of the company’s stock.

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.