Pallas Capital Advisors LLC Cuts Stake in Alphabet Inc. (NASDAQ:GOOG)

Pallas Capital Advisors LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGFree Report) by 2.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,062 shares of the information services provider’s stock after selling 2,285 shares during the quarter. Alphabet makes up approximately 0.6% of Pallas Capital Advisors LLC’s portfolio, making the stock its 28th biggest position. Pallas Capital Advisors LLC’s holdings in Alphabet were worth $11,706,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Financial Advisors Network Inc. boosted its stake in shares of Alphabet by 4.5% during the first quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock valued at $450,000 after purchasing an additional 7 shares during the period. Turim 21 Investimentos Ltda. boosted its stake in shares of Alphabet by 10.8% during the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock valued at $229,000 after purchasing an additional 8 shares during the period. West Michigan Advisors LLC boosted its stake in shares of Alphabet by 3.7% during the first quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock valued at $704,000 after purchasing an additional 9 shares during the period. Somerville Kurt F boosted its stake in shares of Alphabet by 10.3% during the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after purchasing an additional 11 shares during the period. Finally, Stonebridge Capital Advisors LLC boosted its stake in shares of Alphabet by 1.4% during the first quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock valued at $3,301,000 after purchasing an additional 16 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GOOG shares. Susquehanna increased their price objective on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Raymond James boosted their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $146.33.

Check Out Our Latest Report on Alphabet

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $142.14, for a total transaction of $3,198,150.00. Following the completion of the transaction, the chief executive officer now owns 2,400,191 shares in the company, valued at $341,163,148.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $142.14, for a total transaction of $3,198,150.00. Following the completion of the sale, the chief executive officer now directly owns 2,400,191 shares in the company, valued at approximately $341,163,148.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $143.49, for a total transaction of $28,698.00. Following the completion of the transaction, the director now directly owns 6,784 shares of the company’s stock, valued at $973,436.16. The disclosure for this sale can be found here. Insiders have sold 228,239 shares of company stock worth $32,432,382 in the last 90 days. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $155.87 on Wednesday. The business has a fifty day simple moving average of $145.15 and a two-hundred day simple moving average of $139.74. The firm has a market capitalization of $1.94 trillion, a P/E ratio of 26.87, a P/E/G ratio of 1.41 and a beta of 1.05. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12 month low of $102.38 and a 12 month high of $157.00.

Alphabet (NASDAQ:GOOGGet Free Report) last posted its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The business had revenue of $86.31 billion for the quarter, compared to analyst estimates of $85.28 billion. During the same quarter in the previous year, the firm posted $1.05 earnings per share. Alphabet’s quarterly revenue was up 13.5% on a year-over-year basis. On average, equities analysts forecast that Alphabet Inc. will post 6.77 earnings per share for the current fiscal year.

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.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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