Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Acorn Financial Advisory Services Inc. ADV

Acorn Financial Advisory Services Inc. ADV lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 49.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,854 shares of the information services provider’s stock after selling 16,208 shares during the quarter. Acorn Financial Advisory Services Inc. ADV’s holdings in Alphabet were worth $2,353,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Alphabet by 0.3% in the third quarter. Vanguard Group Inc. now owns 487,435,495 shares of the information services provider’s stock valued at $63,785,809,000 after acquiring an additional 1,302,104 shares in the last quarter. FMR LLC grew its position in Alphabet by 5.6% in the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after acquiring an additional 12,070,681 shares in the last quarter. State Street Corp grew its position in Alphabet by 0.8% in the second quarter. State Street Corp now owns 218,540,033 shares of the information services provider’s stock valued at $26,159,242,000 after acquiring an additional 1,666,205 shares in the last quarter. Moneta Group Investment Advisors LLC grew its position in Alphabet by 111,197.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock valued at $15,036,178,000 after acquiring an additional 170,267,122 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Alphabet by 2.3% in the second quarter. Geode Capital Management LLC now owns 121,308,289 shares of the information services provider’s stock valued at $14,481,781,000 after acquiring an additional 2,731,671 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $155.00 price objective on shares of Alphabet in a research report on Wednesday, January 31st. Rosenblatt Securities decreased their price target on shares of Alphabet from $174.00 to $172.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. BMO Capital Markets raised their price target on shares of Alphabet from $170.00 to $178.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. KeyCorp raised their price target on shares of Alphabet from $153.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, January 29th. Finally, Truist Financial decreased their price target on shares of Alphabet from $160.00 to $158.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $155.48.

Get Our Latest Stock Analysis on Alphabet

Insider Buying and Selling

In related news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the transaction, the director now owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $148.78, for a total value of $3,347,550.00. Following the transaction, the chief executive officer now owns 2,310,191 shares of the company’s stock, valued at approximately $343,710,216.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the transaction, the director now directly owns 15,104 shares in the company, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Insiders have sold a total of 251,378 shares of company stock valued at $35,461,377 over the last three months. Company insiders own 0.88% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOGL opened at $150.87 on Thursday. The business’s 50-day moving average price is $143.33 and its 200 day moving average price is $138.03. The firm has a market cap of $1.88 trillion, a P/E ratio of 26.01, a PEG ratio of 1.39 and a beta of 1.04. Alphabet Inc. has a 52-week low of $99.74 and a 52-week high of $153.78. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same period in the previous year, the company earned $1.05 earnings per share. As a group, sell-side analysts predict that Alphabet Inc. will post 6.77 earnings per share for the current fiscal year.

Alphabet Profile

(Free Report)

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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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