HBK Sorce Advisory LLC Has $8.37 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

HBK Sorce Advisory LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 4.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 59,950 shares of the information services provider’s stock after selling 2,942 shares during the period. HBK Sorce Advisory LLC’s holdings in Alphabet were worth $8,374,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Trifecta Capital Advisors LLC lifted its position in shares of Alphabet by 11.2% in the fourth quarter. Trifecta Capital Advisors LLC now owns 17,789 shares of the information services provider’s stock worth $2,485,000 after purchasing an additional 1,796 shares in the last quarter. Hanson & Doremus Investment Management lifted its position in shares of Alphabet by 1.9% in the fourth quarter. Hanson & Doremus Investment Management now owns 32,975 shares of the information services provider’s stock worth $4,606,000 after purchasing an additional 625 shares in the last quarter. Narus Financial Partners LLC lifted its position in shares of Alphabet by 3.0% in the fourth quarter. Narus Financial Partners LLC now owns 9,623 shares of the information services provider’s stock worth $1,344,000 after purchasing an additional 283 shares in the last quarter. Fiduciary Planning LLC lifted its position in shares of Alphabet by 8.8% in the fourth quarter. Fiduciary Planning LLC now owns 9,151 shares of the information services provider’s stock worth $1,278,000 after purchasing an additional 738 shares in the last quarter. Finally, Wolff Financial Management LLC purchased a new stake in shares of Alphabet in the fourth quarter worth approximately $258,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on GOOGL shares. KeyCorp increased their price target on shares of Alphabet from $153.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, January 29th. Redburn Atlantic raised their price objective on shares of Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $155.00 price objective on shares of Alphabet in a research report on Wednesday, January 31st. Barclays cut their price objective on shares of Alphabet from $180.00 to $173.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 31st. Finally, Truist Financial cut their price objective on shares of Alphabet from $160.00 to $158.00 and set a “buy” rating on the stock in a research report on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $155.61.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on 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 sale, the chief executive officer now owns 2,400,191 shares in the company, valued at $341,163,148.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the transaction, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet 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 transaction, the chief executive officer now directly owns 2,400,191 shares of the company’s stock, valued at $341,163,148.74. The disclosure for this sale can be found here. Insiders have sold 251,339 shares of company stock worth $36,033,907 over the last 90 days. Corporate insiders own 0.88% of the company’s stock.

Alphabet Stock Down 1.8 %

GOOGL opened at $154.86 on Tuesday. Alphabet Inc. has a fifty-two week low of $102.63 and a fifty-two week high of $160.22. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The firm’s fifty day moving average price is $145.55 and its two-hundred day moving average price is $140.02. The company 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.

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

Alphabet Company 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.