Perennial Advisors LLC Sells 572 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Perennial Advisors LLC trimmed its stake in Alphabet Inc. (NASDAQ:GOOGL) by 5.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,636 shares of the information services provider’s stock after selling 572 shares during the period. Perennial Advisors LLC’s holdings in Alphabet were worth $1,346,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Bornite Capital Management LP acquired a new position in Alphabet during the 1st quarter valued at about $16,688,000. Markel Corp increased its position in 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 in the last quarter. United Bank increased its position in 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in 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 in the last quarter. Finally, Dakota Wealth Management grew its stake in 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 purchasing an additional 1,570 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the transaction, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director John L. Hennessy sold 800 shares of the stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the sale, the director now owns 7,991 shares of the company’s stock, valued at $1,275,043.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock valued at $36,033,907 over the last quarter. 0.88% of the stock is currently owned by insiders.

Alphabet Price Performance

Shares of Alphabet stock opened at $154.86 on Tuesday. The business has a 50 day simple moving average of $145.55 and a two-hundred day simple moving average of $140.02. Alphabet Inc. has a 12 month low of $102.63 and a 12 month high of $160.22. The stock has a market capitalization of $1.93 trillion, a P/E ratio of 26.70, a PEG ratio of 1.46 and a beta of 1.05. 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 (NASDAQ:GOOGL) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. During the same quarter in the prior year, the firm earned $1.05 earnings per share. As a group, analysts predict that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. StockNews.com upgraded Alphabet from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 20th. Roth Mkm dropped their price target on Alphabet from $166.00 to $164.00 and set a “buy” rating on the stock in a research note on Wednesday, January 31st. Redburn Atlantic boosted their price target on Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Rosenblatt Securities dropped their price target on Alphabet from $174.00 to $172.00 and set a “buy” rating on the stock in a research note on Wednesday, January 31st. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $155.00 price target on shares of Alphabet in a research note on Wednesday, January 31st. Five investment 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $155.61.

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.