Financial Connections Group Inc. Lowers Position in Alphabet Inc. (NASDAQ:GOOGL)

Financial Connections Group Inc. trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,574 shares of the information services provider’s stock after selling 257 shares during the quarter. Financial Connections Group Inc.’s holdings in Alphabet were worth $359,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. DC Investments Management LLC purchased a new stake in shares of Alphabet during the first quarter valued at about $114,000. Bridgefront Capital LLC purchased a new position in shares of Alphabet in the 1st quarter valued at approximately $225,000. Worth Asset Management LLC purchased a new position in shares of Alphabet in the 1st quarter valued at approximately $206,000. Eudaimonia Advisors LLC raised its position in shares of Alphabet by 15.1% in the 1st quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock valued at $275,000 after purchasing an additional 13 shares during the last quarter. Finally, Aspire Capital Advisors LLC purchased a new position in shares of Alphabet in the 1st quarter valued at approximately $281,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GOOGL. Barclays decreased their price objective on shares of Alphabet from $180.00 to $173.00 and set an “overweight” rating for the company in a research report on Wednesday, January 31st. UBS Group increased their price target on shares of Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a report on Tuesday. KeyCorp increased their price target on shares of Alphabet from $153.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, January 29th. Roth Mkm cut their price target on shares of Alphabet from $166.00 to $164.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. Finally, Susquehanna increased their price target on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a 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 given a strong buy rating to the stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $156.64.

Alphabet Stock Down 0.3 %

NASDAQ GOOGL opened at $154.40 on Wednesday. Alphabet Inc. has a 52 week low of $102.63 and a 52 week high of $160.22. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The business’s fifty day simple moving average is $145.76 and its 200-day simple moving average is $140.19. The firm has a market cap of $1.92 trillion, a PE ratio of 26.62, 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 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. The business had revenue of $86.31 billion for the quarter, compared to analyst estimates 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 previous year, the firm earned $1.05 EPS. As a group, equities analysts anticipate that Alphabet Inc. will post 6.78 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the sale, the director now directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the sale, the director now directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total value of $3,291,525.00. Following the sale, the chief executive officer now directly owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The disclosure for this sale can be found here. In the last ninety days, insiders sold 228,839 shares of company stock valued at $32,835,757. 0.88% of the stock is currently owned by insiders.

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.