Alphabet Inc. (NASDAQ:GOOG) Position Cut by Oxinas Partners Wealth Management LLC

Oxinas Partners Wealth Management LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOGFree Report) by 1.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 18,735 shares of the information services provider’s stock after selling 274 shares during the quarter. Alphabet makes up about 1.9% of Oxinas Partners Wealth Management LLC’s investment portfolio, making the stock its 17th largest holding. Oxinas Partners Wealth Management LLC’s holdings in Alphabet were worth $2,640,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Moneta Group Investment Advisors LLC lifted its stake in Alphabet by 61,587.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock valued at $11,539,004,000 after buying an additional 129,835,437 shares during the last quarter. FMR LLC raised its stake in shares of Alphabet by 3.8% during the third quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock valued at $15,852,868,000 after purchasing an additional 4,348,188 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Alphabet by 11.3% during the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after purchasing an additional 9,703,425 shares in the last quarter. Morgan Stanley raised its stake in shares of Alphabet by 37.6% during the fourth quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock valued at $6,368,961,000 after purchasing an additional 19,612,974 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Alphabet by 2.3% during the third quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock valued at $7,550,942,000 after purchasing an additional 1,275,060 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Alphabet Price Performance

NASDAQ:GOOG opened at $155.87 on Wednesday. The business’s 50-day moving average price is $145.15 and its 200 day moving average price is $139.74. The firm has a market cap of $1.94 trillion, a P/E ratio of 26.87, a PEG ratio of 1.41 and a beta of 1.05. Alphabet Inc. has a 52-week low of $102.38 and a 52-week high of $157.00. 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:GOOGGet 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 $85.28 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. Alphabet’s revenue was up 13.5% compared to the same quarter last year. 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.

Analysts Set New Price Targets

GOOG has been the topic of a number of recent analyst reports. Raymond James lifted their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Susquehanna lifted their price objective on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $146.33.

Get Our Latest Stock Analysis on Alphabet

Insider Buying and Selling

In related news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the transaction, the senior vice president now owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total transaction of $105,566.78. Following the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at $4,532,870.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the sale, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The disclosure for this sale can be found here. Insiders have sold a total of 228,239 shares of company stock valued at $32,432,382 over the last three months. Company insiders own 12.99% of the company’s stock.

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.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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