Bridgeworth LLC Lowers Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Bridgeworth LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,422 shares of the information services provider’s stock after selling 97 shares during the period. Bridgeworth LLC’s holdings in Alphabet were worth $478,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Alphabet by 0.3% during the third 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 in the last quarter. FMR LLC lifted its holdings in Alphabet by 5.6% during the third 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 in the last quarter. State Street Corp lifted its holdings in Alphabet by 1,900.6% during the third 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 in the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in Alphabet by 111,197.8% during the fourth 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 in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Alphabet by 1.3% during the first 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 in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Down 0.3 %

NASDAQ GOOGL opened at $154.40 on Wednesday. The firm has a 50 day simple moving average of $145.76 and a 200-day simple moving average of $140.19. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. Alphabet Inc. has a one year low of $102.63 and a one year high of $160.22. The firm has a market cap of $1.92 trillion, a price-to-earnings ratio of 26.62, 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 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The business had revenue of $86.31 billion during the quarter, compared to analyst estimates of $70.77 billion. During the same quarter last year, the firm posted $1.05 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction that occurred 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 completion of the transaction, the director now owns 15,104 shares in the company, valued at $2,326,922.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $159.56, for a total transaction of $127,648.00. Following 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 filing with the SEC, which can be accessed through the SEC website. Also, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the sale, the director now directly owns 15,104 shares in the company, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Insiders sold 228,839 shares of company stock worth $32,835,757 over the last 90 days. 0.88% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. KeyCorp increased their price objective on shares of Alphabet from $153.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, January 29th. Susquehanna increased their price objective on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Wells Fargo & Company reduced their target price on shares of Alphabet from $144.00 to $141.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 3rd. Wolfe Research increased their target price on shares of Alphabet from $170.00 to $180.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Finally, Mizuho increased their target price on shares of Alphabet from $155.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Five investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $156.64.

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.