Lynch Asset Management Inc. Sells 150 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Lynch Asset Management Inc. lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.2% during the fourth quarter, HoldingsChannel reports. The fund owned 71,850 shares of the information services provider’s stock after selling 150 shares during the period. Alphabet comprises approximately 5.8% of Lynch Asset Management Inc.’s investment portfolio, making the stock its 3rd biggest holding. Lynch Asset Management Inc.’s holdings in Alphabet were worth $10,037,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Executive Wealth Management LLC grew its holdings in Alphabet by 7.9% during the fourth quarter. Executive Wealth Management LLC now owns 43,054 shares of the information services provider’s stock worth $6,014,000 after acquiring an additional 3,160 shares during the period. Plimoth Trust Co. LLC increased its position in shares of Alphabet by 0.4% in the fourth quarter. Plimoth Trust Co. LLC now owns 65,440 shares of the information services provider’s stock valued at $9,141,000 after buying an additional 252 shares in the last quarter. Capasso Planning Partners LLC increased its position in shares of Alphabet by 3.7% in the fourth quarter. Capasso Planning Partners LLC now owns 2,638 shares of the information services provider’s stock valued at $369,000 after buying an additional 94 shares in the last quarter. Albion Financial Group UT increased its position in shares of Alphabet by 1.7% in the fourth quarter. Albion Financial Group UT now owns 264,186 shares of the information services provider’s stock valued at $36,904,000 after buying an additional 4,375 shares in the last quarter. Finally, Soltis Investment Advisors LLC increased its position in shares of Alphabet by 5.1% in the fourth quarter. Soltis Investment Advisors LLC now owns 51,055 shares of the information services provider’s stock valued at $7,132,000 after buying an additional 2,494 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ:GOOGL opened at $155.47 on Thursday. The company has a market cap of $1.93 trillion, a P/E ratio of 26.81, a PEG ratio of 1.43 and a beta of 1.05. 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.

Alphabet (NASDAQ:GOOGL) last announced its earnings results 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. The business had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same period last year, the business posted $1.05 EPS. On average, sell-side analysts forecast that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

Insider Activity at Alphabet

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 sale, the director now directly owns 15,104 shares in the company, valued at approximately $2,326,922.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the sale, the chief accounting officer now directly owns 27,920 shares in the company, valued at approximately $4,009,032.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the sale, the director now owns 15,104 shares in the company, valued at $2,326,922.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 251,339 shares of company stock worth $36,377,482. 0.88% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Roth Mkm dropped their price target on Alphabet from $166.00 to $164.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. JMP Securities restated a “market outperform” rating and issued a $160.00 price target on shares of Alphabet in a research report on Wednesday, April 10th. StockNews.com raised Alphabet from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 20th. KeyCorp increased their price objective on Alphabet from $153.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, January 29th. Finally, Redburn Atlantic increased their price objective on Alphabet from $150.00 to $165.00 and gave the company a “buy” rating 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 company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $157.00.

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.