Steel Grove Capital Advisors LLC Sells 30,006 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Steel Grove Capital Advisors LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 18.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 133,149 shares of the information services provider’s stock after selling 30,006 shares during the quarter. Alphabet accounts for 2.5% of Steel Grove Capital Advisors LLC’s investment portfolio, making the stock its 5th biggest position. Steel Grove Capital Advisors LLC’s holdings in Alphabet were worth $18,600,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOGL. Pingora Partners LLC purchased a new position in Alphabet in the fourth quarter valued at about $360,000. Elk River Wealth Management LLC raised its position in Alphabet by 0.3% in the fourth quarter. Elk River Wealth Management LLC now owns 104,981 shares of the information services provider’s stock valued at $14,665,000 after purchasing an additional 345 shares during the period. Grey Fox Wealth Advisors LLC raised its position in Alphabet by 0.8% in the fourth quarter. Grey Fox Wealth Advisors LLC now owns 11,308 shares of the information services provider’s stock valued at $1,580,000 after purchasing an additional 88 shares during the period. West Oak Capital LLC raised its position in Alphabet by 5.4% in the fourth quarter. West Oak Capital LLC now owns 2,950 shares of the information services provider’s stock valued at $421,000 after purchasing an additional 150 shares during the period. Finally, West Wealth Group LLC raised its position in Alphabet by 12.7% in the fourth quarter. West Wealth Group LLC now owns 1,915 shares of the information services provider’s stock valued at $268,000 after purchasing an additional 216 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $150.93 on Friday. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The business has a 50 day moving average of $143.76 and a two-hundred day moving average of $138.31. Alphabet Inc. has a 52 week low of $99.78 and a 52 week high of $153.78. The company has a market cap of $1.88 trillion, a P/E ratio of 26.02, a PEG ratio of 1.39 and a beta of 1.04.

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

Analyst Ratings Changes

GOOGL has been the topic of several research reports. Mizuho raised their price objective on Alphabet from $155.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Citigroup raised their price objective on Alphabet from $153.00 to $168.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Wedbush lifted their target price on Alphabet from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday, March 22nd. KeyCorp lifted their target price on 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 dropped their target price on Alphabet from $160.00 to $158.00 and set a “buy” rating on the stock in a research report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $155.48.

Check Out Our Latest Research Report on Alphabet

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,332,691 shares in the company, valued at $309,548,095.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the transaction, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the transaction, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The disclosure for this sale can be found here. Insiders sold a total of 263,312 shares of company stock worth $37,268,315 over the last ninety days. Company insiders own 0.88% of the company’s stock.

Alphabet Company 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.

Featured Stories

Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGLFree Report).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.