Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Wealth Advisors of Tampa Bay LLC

Wealth Advisors of Tampa Bay LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 49.1% during the fourth quarter, Holdings Channel reports. The firm owned 33,967 shares of the information services provider’s stock after selling 32,801 shares during the quarter. Alphabet makes up about 2.4% of Wealth Advisors of Tampa Bay LLC’s portfolio, making the stock its 12th largest holding. Wealth Advisors of Tampa Bay LLC’s holdings in Alphabet were worth $4,745,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in GOOGL. RWQ Financial Management Services Inc. increased its position in Alphabet by 8.2% in the 4th quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock valued at $8,591,000 after acquiring an additional 4,664 shares during the period. Ballast Advisors LLC increased its position in Alphabet by 9.6% in the 3rd quarter. Ballast Advisors LLC now owns 15,747 shares of the information services provider’s stock valued at $2,061,000 after acquiring an additional 1,385 shares during the period. Quantum Financial Advisors LLC increased its position in Alphabet by 8.0% in the 3rd quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock valued at $998,000 after acquiring an additional 564 shares during the period. Acadian Asset Management LLC increased its position in Alphabet by 2.4% in the 3rd quarter. Acadian Asset Management LLC now owns 4,416,533 shares of the information services provider’s stock valued at $577,908,000 after acquiring an additional 104,366 shares during the period. Finally, NatWest Group plc increased its position in Alphabet by 239.0% in the 4th quarter. NatWest Group plc now owns 100,793 shares of the information services provider’s stock valued at $14,080,000 after acquiring an additional 71,057 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Down 1.1 %

Shares of Alphabet stock opened at $157.73 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. Alphabet Inc. has a 1 year low of $102.63 and a 1 year high of $160.22. The company has a market capitalization of $1.96 trillion, a P/E ratio of 27.19, a P/E/G ratio of 1.44 and a beta of 1.05. The business has a 50 day moving average price of $145.33 and a 200 day moving average price of $139.72.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The firm had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. During the same period in the previous year, the firm posted $1.05 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GOOGL. KeyCorp boosted their price target on Alphabet from $153.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, January 29th. JMP Securities reaffirmed a “market outperform” rating and issued a $160.00 price objective on shares of Alphabet in a report on Wednesday. Truist Financial lowered their price objective on Alphabet from $160.00 to $158.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. Roth Mkm lowered their price objective on Alphabet from $166.00 to $164.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. Finally, Rosenblatt Securities lowered their price objective on Alphabet from $174.00 to $172.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $155.61.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $142.14, for a total value of $3,198,150.00. Following the completion of the transaction, the chief executive officer now directly owns 2,400,191 shares in the company, valued at approximately $341,163,148.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $142.14, for a total value of $3,198,150.00. Following the completion of the transaction, the chief executive officer now directly owns 2,400,191 shares in the company, valued at approximately $341,163,148.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the transaction, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The disclosure for this sale can be found here. In the last three months, insiders sold 250,539 shares of company stock worth $35,906,259. 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.