Leeward Financial Partners LLC Cuts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Leeward Financial Partners LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.7% during the fourth quarter, Holdings Channel reports. The fund owned 31,167 shares of the information services provider’s stock after selling 2,246 shares during the quarter. Alphabet accounts for 2.1% of Leeward Financial Partners LLC’s investment portfolio, making the stock its 13th largest holding. Leeward Financial Partners LLC’s holdings in Alphabet were worth $4,354,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of GOOGL. Live Oak Investment Partners acquired a new position in Alphabet in the fourth quarter worth about $26,000. Sanctuary Wealth Management L.L.C. acquired a new position in Alphabet in the fourth quarter worth about $34,000. Turim 21 Investimentos Ltda. acquired a new position in Alphabet in the third quarter worth about $38,000. Meritage Group LP grew its stake in Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after purchasing an additional 276 shares in the last quarter. Finally, Macroview Investment Management LLC grew its stake in Alphabet by 165.8% in the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after purchasing an additional 199 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Up 0.7 %

Shares of Alphabet stock opened at $155.47 on Thursday. The firm has a market capitalization of $1.93 trillion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 1.43 and a beta of 1.05. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The firm’s 50 day moving average is $145.95 and its 200 day moving average is $140.29. Alphabet Inc. has a 1 year low of $102.63 and a 1 year high of $160.22.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. During the same period in the previous year, the firm posted $1.05 EPS. Equities research analysts forecast that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the sale, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the transaction, the chief executive officer now owns 2,303,011 shares in the company, valued at approximately $362,516,961.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ruth Porat sold 48,077 shares of the business’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 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 three months, insiders have sold 251,339 shares of company stock valued at $36,377,482. 0.88% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Susquehanna lifted their target price on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. JMP Securities restated a “market outperform” rating and issued a $160.00 target price on shares of Alphabet in a research note on Wednesday, April 10th. Wedbush restated an “outperform” rating and issued a $175.00 target price on shares of Alphabet in a research note on Wednesday, April 10th. Roth Mkm decreased their target price on Alphabet from $166.00 to $164.00 and set a “buy” rating for the company in a research note on Wednesday, January 31st. Finally, Needham & Company LLC restated a “buy” rating and issued a $160.00 target price on shares of Alphabet in a research note 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 data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $157.00.

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.