Advisors Management Group Inc. ADV Reduces Position in Alphabet Inc. (NASDAQ:GOOGL)

Advisors Management Group Inc. ADV decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,196 shares of the information services provider’s stock after selling 170 shares during the period. Advisors Management Group Inc. ADV’s holdings in Alphabet were worth $3,380,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of GOOGL. DC Investments Management LLC purchased a new stake in shares of Alphabet in the first quarter valued at $114,000. Bridgefront Capital LLC purchased a new stake in shares of Alphabet in the first quarter valued at $225,000. Worth Asset Management LLC purchased a new stake in shares of Alphabet in the first quarter valued at $206,000. Eudaimonia Advisors LLC grew its position in shares of Alphabet by 15.1% in the first 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 period. Finally, Aspire Capital Advisors LLC purchased a new stake in shares of Alphabet in the first quarter valued at $281,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 0.7 %

NASDAQ:GOOGL opened at $155.47 on Thursday. 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 business’s 50-day simple moving average is $145.95 and its 200 day simple moving average is $140.29. The stock has a market cap of $1.93 trillion, a price-to-earnings ratio of 26.81, a price-to-earnings-growth ratio of 1.43 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last released 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. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $70.77 billion. During the same quarter in the previous year, the firm posted $1.05 earnings per share. As a group, sell-side analysts predict that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

GOOGL has been the subject of a number of recent analyst reports. StockNews.com raised Alphabet from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 20th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $155.00 price objective on shares of Alphabet in a research report on Wednesday, January 31st. Wedbush reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of Alphabet in a research report on Wednesday, April 10th. Wells Fargo & Company reduced their target price on Alphabet from $144.00 to $141.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 3rd. Finally, Mizuho lifted their target price on Alphabet from $155.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Five equities 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $157.00.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the transaction, the chief executive officer now owns 2,303,011 shares in the company, valued at $362,516,961.51. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the sale, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Frances Arnold sold 230 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 251,339 shares of company stock worth $36,377,482. 0.88% of the stock is currently owned by corporate insiders.

About Alphabet

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.