White Pine Investment CO Sells 1,276 Shares of Alphabet Inc. (NASDAQ:GOOGL)

White Pine Investment CO lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 102,694 shares of the information services provider’s stock after selling 1,276 shares during the period. Alphabet makes up 4.6% of White Pine Investment CO’s investment portfolio, making the stock its 2nd biggest holding. White Pine Investment CO’s holdings in Alphabet were worth $14,345,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Live Oak Investment Partners acquired a new stake in shares of Alphabet in the 4th quarter worth about $26,000. Sanctuary Wealth Management L.L.C. acquired a new stake in shares of Alphabet in the 4th quarter worth about $34,000. Turim 21 Investimentos Ltda. acquired a new stake in shares of Alphabet in the 3rd quarter worth about $38,000. Meritage Group LP raised its holdings in shares of Alphabet by 1,061.5% in the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after acquiring an additional 276 shares during the last quarter. Finally, Macroview Investment Management LLC raised its holdings in shares of Alphabet by 165.8% in the 3rd quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after acquiring an additional 199 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. JMP Securities restated a “market outperform” rating and issued a $160.00 target price on shares of Alphabet in a report on Wednesday, April 10th. BMO Capital Markets reiterated an “outperform” rating and issued a $185.00 price objective (up previously from $178.00) on shares of Alphabet in a research note on Wednesday, April 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $155.00 price objective on shares of Alphabet in a research note on Wednesday, January 31st. Needham & Company LLC reiterated a “buy” rating and issued a $160.00 price objective on shares of Alphabet in a research note on Wednesday, January 31st. Finally, Wolfe Research increased their price objective on shares of Alphabet from $170.00 to $180.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Five analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $155.61.

Insider Activity

In other news, CFO Ruth Porat sold 48,077 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the sale, the chief financial officer now owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the transaction, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Ruth Porat sold 48,077 shares of Alphabet 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 transaction, the chief financial officer now owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 251,339 shares of company stock worth $36,033,907. 0.88% of the stock is currently owned by corporate insiders.

Alphabet Stock Down 1.8 %

Shares of NASDAQ:GOOGL opened at $154.86 on Tuesday. The firm has a fifty day moving average price of $145.55 and a two-hundred day moving average price of $140.02. 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 one year low of $102.63 and a one year high of $160.22. The company has a market cap of $1.93 trillion, a price-to-earnings ratio of 26.70, a PEG ratio of 1.46 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. The firm had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $70.77 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. During the same quarter last year, the company posted $1.05 EPS. Analysts anticipate 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.