E&G Advisors LP Sells 349 Shares of Alphabet Inc. (NASDAQ:GOOGL)

E&G Advisors LP decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,751 shares of the information services provider’s stock after selling 349 shares during the period. Alphabet accounts for approximately 2.7% of E&G Advisors LP’s holdings, making the stock its 5th biggest holding. E&G Advisors LP’s holdings in Alphabet were worth $7,508,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Alphabet by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 487,435,495 shares of the information services provider’s stock valued at $63,785,809,000 after purchasing an additional 1,302,104 shares during the period. FMR LLC lifted its position in Alphabet by 5.6% during the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after purchasing an additional 12,070,681 shares during the period. State Street Corp lifted its position in Alphabet by 1,900.6% during the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after purchasing an additional 206,300,042 shares during the period. Moneta Group Investment Advisors LLC lifted its position in Alphabet by 111,197.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock valued at $15,036,178,000 after purchasing an additional 170,267,122 shares during the period. Finally, Geode Capital Management LLC lifted its position in Alphabet by 1.3% during the 1st quarter. Geode Capital Management LLC now owns 118,576,618 shares of the information services provider’s stock valued at $12,271,705,000 after purchasing an additional 1,499,107 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity

In other news, CFO Ruth Porat sold 48,077 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the sale, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Alphabet news, CFO Ruth Porat sold 48,077 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the sale, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $142.14, for a total value of $3,198,150.00. Following the sale, the chief executive officer now directly owns 2,400,191 shares of the company’s stock, valued at approximately $341,163,148.74. The disclosure for this sale can be found here. In the last 90 days, insiders sold 251,339 shares of company stock valued at $36,033,907. 0.88% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on GOOGL shares. KeyCorp upped their price target on Alphabet from $153.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, January 29th. Wedbush reaffirmed an “outperform” rating and issued a $175.00 price target on shares of Alphabet in a research note on Wednesday, April 10th. Citigroup reaffirmed a “buy” rating and issued a $168.00 price target on shares of Alphabet in a research note on Wednesday, April 10th. JMP Securities reaffirmed a “market outperform” rating and issued a $160.00 price target on shares of Alphabet in a research note on Wednesday, April 10th. Finally, StockNews.com raised Alphabet from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 20th. Five equities research 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 data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $155.61.

Alphabet Price Performance

Shares of GOOGL opened at $154.86 on Tuesday. The stock has a market capitalization of $1.93 trillion, a P/E ratio of 26.70, a P/E/G ratio of 1.46 and a beta of 1.05. 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 Inc. has a twelve month low of $102.63 and a twelve month high of $160.22. The company has a 50 day moving average of $145.55 and a 200-day moving average of $140.02.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same quarter in the prior year, the firm posted $1.05 EPS. As a group, equities research analysts forecast that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Alphabet Profile

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.