Forza Wealth Management LLC Sells 280 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Forza Wealth Management LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,065 shares of the information services provider’s stock after selling 280 shares during the quarter. Forza Wealth Management LLC’s holdings in Alphabet were worth $1,546,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GOOGL. Bornite Capital Management LP bought a new position in shares of Alphabet during the 1st quarter valued at $16,688,000. Markel Corp lifted its holdings in shares of Alphabet by 17.0% during the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after buying an additional 2,250 shares during the period. United Bank lifted its holdings in shares of Alphabet by 5.9% during the 1st quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after buying an additional 113 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Alphabet by 23.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after buying an additional 61,427 shares during the period. Finally, Dakota Wealth Management lifted its holdings in shares of Alphabet by 20.4% during the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after buying an additional 1,570 shares during the period. 40.03% of the stock is owned by institutional investors.

Alphabet Trading Down 0.3 %

GOOGL opened at $156.14 on Thursday. The firm has a market cap of $1.94 trillion, a P/E ratio of 26.92, a P/E/G ratio of 1.43 and a beta of 1.05. Alphabet Inc. has a 12 month low of $102.63 and a 12 month high of $158.56. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The stock has a 50-day moving average of $144.65 and a 200 day moving average of $139.39.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results 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 company had revenue of $86.31 billion during the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same quarter last year, the business posted $1.05 earnings per share. As a group, research analysts forecast that Alphabet Inc. will post 6.77 EPS for the current year.

Analyst Ratings Changes

GOOGL has been the topic of several research analyst reports. Redburn Atlantic increased their price target on Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Wells Fargo & Company decreased their target price on Alphabet from $144.00 to $141.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 3rd. Roth Mkm decreased their target price on Alphabet from $166.00 to $164.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. JMP Securities reaffirmed a “market outperform” rating and issued a $160.00 target price on shares of Alphabet in a report on Wednesday. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $185.00 target price (up from $178.00) on shares of Alphabet in a report on Wednesday. Five research 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $155.61.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total value of $3,502,575.00. Following the completion of the transaction, the chief executive officer now owns 2,325,513 shares in the company, valued at $362,012,608.71. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total value of $3,502,575.00. Following the completion of the sale, the chief executive officer now owns 2,325,513 shares of the company’s stock, valued at $362,012,608.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $136.49, for a total transaction of $93,086.18. Following the completion of the sale, the chief accounting officer now directly owns 28,602 shares of the company’s stock, valued at approximately $3,903,886.98. The disclosure for this sale can be found here. Over the last quarter, insiders sold 250,539 shares of company stock worth $35,906,259. Corporate insiders own 0.88% of the company’s stock.

About Alphabet

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.