Isthmus Partners LLC Has $278,000 Stake in Alphabet Inc. (NASDAQ:GOOGL)

Isthmus Partners LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,680 shares of the information services provider’s stock after selling 115 shares during the quarter. Isthmus Partners LLC’s holdings in Alphabet were worth $278,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GOOGL. DC Investments Management LLC acquired a new stake in Alphabet during the 1st quarter worth approximately $114,000. Bridgefront Capital LLC bought a new position in Alphabet during the 1st quarter worth $225,000. Worth Asset Management LLC acquired a new stake in shares of Alphabet during the first quarter worth $206,000. Eudaimonia Advisors LLC boosted its position in shares of Alphabet by 15.1% in the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock valued at $275,000 after acquiring an additional 13 shares during the period. Finally, Aspire Capital Advisors LLC acquired a new position in shares of Alphabet in the first quarter valued at about $281,000. 35.08% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of Alphabet stock opened at $134.57 on Wednesday. The stock has a market cap of $1.70 trillion, a price-to-earnings ratio of 28.51, a P/E/G ratio of 1.50 and a beta of 1.06. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $136.57. The company’s fifty day moving average is $125.47 and its 200 day moving average is $113.90. The company has a quick ratio of 2.14, a current ratio of 2.17 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, July 25th. The information services provider reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.12. Alphabet had a return on equity of 23.49% and a net margin of 21.05%. The firm had revenue of $74.60 billion for the quarter, compared to analyst estimates of $60.24 billion. During the same quarter in the previous year, the company posted $1.21 EPS. Sell-side analysts forecast that Alphabet Inc. will post 5.68 EPS for the current year.

Insider Buying and Selling at Alphabet

In other news, Director Ann Mather sold 220 shares of the business’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $130.14, for a total value of $28,630.80. Following the transaction, the director now owns 4,818 shares in the company, valued at approximately $627,014.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 16,083 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $120.31, for a total transaction of $1,934,945.73. Following the completion of the sale, the senior vice president now directly owns 127,028 shares in the company, valued at approximately $15,282,738.68. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ann Mather sold 220 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $130.14, for a total value of $28,630.80. Following the sale, the director now directly owns 4,818 shares of the company’s stock, valued at approximately $627,014.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 163,353 shares of company stock valued at $8,576,028. 0.88% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Stifel Nicolaus lifted their price objective on shares of Alphabet from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. Truist Financial increased their price target on Alphabet from $122.00 to $160.00 in a research report on Wednesday, July 26th. Wells Fargo & Company lifted their price objective on Alphabet from $116.00 to $121.00 in a report on Wednesday, July 26th. JMP Securities increased their target price on Alphabet from $132.00 to $138.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 26th. Finally, Credit Suisse Group boosted their price target on Alphabet from $135.00 to $150.00 and gave the company an “outperform” rating in a research note on Monday, July 17th. Four analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $143.08.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.