Sicart Associates LLC Lowers Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Sicart Associates LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 6.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 61,878 shares of the information services provider’s stock after selling 3,950 shares during the quarter. Alphabet makes up about 3.3% of Sicart Associates LLC’s holdings, making the stock its 10th biggest holding. Sicart Associates LLC’s holdings in Alphabet were worth $8,644,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. DE Burlo Group Inc. grew its position in shares of Alphabet by 520.0% during the 2nd quarter. DE Burlo Group Inc. now owns 96,498 shares of the information services provider’s stock worth $11,551,000 after purchasing an additional 80,934 shares in the last quarter. West Tower Group LLC acquired a new position in shares of Alphabet during the 2nd quarter worth approximately $88,000. Ballast Advisors LLC grew its position in shares of Alphabet by 9.6% during the 3rd quarter. Ballast Advisors LLC now owns 15,747 shares of the information services provider’s stock worth $2,061,000 after purchasing an additional 1,385 shares in the last quarter. Quantum Financial Advisors LLC grew its position in shares of Alphabet by 8.0% during the 3rd quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock worth $998,000 after purchasing an additional 564 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Alphabet by 2.4% during the 3rd quarter. Acadian Asset Management LLC now owns 4,416,533 shares of the information services provider’s stock worth $577,908,000 after acquiring an additional 104,366 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GOOGL. Susquehanna increased their price target on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Wedbush raised their target price on shares of Alphabet from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Citigroup raised their target price on shares of Alphabet from $153.00 to $168.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Wolfe Research raised their price target on shares of Alphabet from $170.00 to $180.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Finally, Redburn Atlantic raised their price target on shares of Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Five investment 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 company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.39.

Get Our Latest Research Report on Alphabet

Alphabet Stock Up 0.2 %

Alphabet stock opened at $154.92 on Thursday. Alphabet Inc. has a fifty-two week low of $102.63 and a fifty-two week high of $155.74. The stock has a market cap of $1.93 trillion, a PE ratio of 26.71, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05. The firm’s 50-day simple moving average is $144.22 and its 200 day simple moving average is $138.70. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced 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. The business had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. During the same quarter in the previous year, the firm posted $1.05 earnings per share. Research analysts predict that Alphabet Inc. will post 6.77 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $143.49, for a total value of $28,698.00. Following the sale, the director now owns 6,784 shares of the company’s stock, valued at $973,436.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $143.49, for a total value of $28,698.00. Following the sale, the director now owns 6,784 shares of the company’s stock, valued at $973,436.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the sale, the chief executive officer now owns 2,332,691 shares in the company, valued at $309,548,095.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 228,239 shares of company stock valued at $32,432,382. Company insiders own 0.88% of the company’s stock.

About Alphabet

(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

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)

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