Patron Partners LLC Sells 571 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Patron Partners LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 5.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,154 shares of the information services provider’s stock after selling 571 shares during the quarter. Alphabet comprises approximately 0.9% of Patron Partners LLC’s investment portfolio, making the stock its 22nd biggest holding. Patron Partners LLC’s holdings in Alphabet were worth $1,418,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of GOOGL. Live Oak Investment Partners acquired a new stake in Alphabet during the 4th quarter worth approximately $26,000. VitalStone Financial LLC raised its holdings in Alphabet by 1,900.0% during the 2nd quarter. VitalStone Financial LLC now owns 280 shares of the information services provider’s stock worth $34,000 after buying an additional 266 shares during the period. Sanctuary Wealth Management L.L.C. acquired a new stake in Alphabet during the 4th quarter worth approximately $34,000. Turim 21 Investimentos Ltda. acquired a new stake in Alphabet during the 3rd quarter worth approximately $38,000. Finally, Meritage Group LP raised its holdings in Alphabet by 1,061.5% during the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after buying an additional 276 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 3.0 %

GOOGL stock opened at $155.49 on Tuesday. The company has a market cap of $1.93 trillion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 1.39 and a beta of 1.05. The business has a 50-day simple moving average of $143.76 and a 200 day simple moving average of $138.34. Alphabet Inc. has a 52 week low of $101.93 and a 52 week high of $155.74. 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 posted its quarterly 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. The business had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same quarter in the previous year, the firm earned $1.05 earnings per share. Sell-side analysts anticipate that Alphabet Inc. will post 6.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on GOOGL. Roth Mkm dropped their target price on shares of Alphabet from $166.00 to $164.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. Wells Fargo & Company lifted their price objective on shares of Alphabet from $141.00 to $144.00 and gave the company an “equal weight” rating in a report on Monday, March 18th. BMO Capital Markets boosted their target price on shares of Alphabet from $170.00 to $178.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Wolfe Research boosted their target price on shares of Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Finally, Needham & Company LLC restated a “buy” rating and set a $160.00 target price on shares of Alphabet in a report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $155.48.

Get Our Latest Research Report on Alphabet

Insider Activity at Alphabet

In related news, insider John Kent Walker sold 12,084 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $151.19, for a total value of $1,826,979.96. Following the completion of the transaction, the insider now owns 48,717 shares of the company’s stock, valued at $7,365,523.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction dated 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 owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 12,084 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $151.19, for a total value of $1,826,979.96. Following the transaction, the insider now directly owns 48,717 shares of the company’s stock, valued at approximately $7,365,523.23. The disclosure for this sale can be found here. Insiders sold a total of 246,799 shares of company stock valued at $34,971,139 over the last quarter. 0.88% of the stock is owned by corporate insiders.

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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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