Nelson Capital Management LLC Lowers Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Nelson Capital Management LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.7% in the 4th quarter, HoldingsChannel reports. The fund owned 5,864 shares of the information services provider’s stock after selling 100 shares during the quarter. Nelson Capital Management LLC’s holdings in Alphabet were worth $819,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Bornite Capital Management LP purchased a new position in shares of Alphabet during the first quarter worth $16,688,000. Markel Corp boosted its position in shares of Alphabet by 17.0% during the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock worth $43,110,000 after buying an additional 2,250 shares during the period. United Bank boosted its position in shares of Alphabet by 5.9% during the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock worth $5,654,000 after buying an additional 113 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Alphabet by 23.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after acquiring an additional 61,427 shares in the last quarter. Finally, Dakota Wealth Management raised its stake in shares of Alphabet by 20.4% in the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after acquiring an additional 1,570 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 800 shares of the company’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 value of $127,648.00. Following the completion of the sale, the director now directly owns 7,991 shares in the company, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 251,339 shares of company stock valued at $36,377,482. 0.88% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. UBS Group increased their price objective on Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a research note on Tuesday. Roth Mkm reduced their price objective on Alphabet from $166.00 to $164.00 and set a “buy” rating on the stock in a research note on Wednesday, January 31st. KeyCorp raised their price target on Alphabet from $153.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, January 29th. Mizuho raised their price target on Alphabet from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Finally, Wedbush restated an “outperform” rating and issued a $175.00 price target on shares of Alphabet in a research note on Wednesday, April 10th. Five 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 stock currently has an average rating of “Moderate Buy” and an average price target of $157.00.

Alphabet Price Performance

Shares of GOOGL opened at $155.47 on Thursday. Alphabet Inc. has a twelve month low of $102.63 and a twelve month high of $160.22. The stock’s 50 day moving average is $145.95 and its two-hundred day moving average is $140.29. The firm has a market capitalization of $1.93 trillion, a PE ratio of 26.81, a P/E/G 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.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating 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 company had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. During the same period last year, the firm earned $1.05 EPS. Research analysts anticipate that Alphabet Inc. will post 6.78 earnings per share for the current year.

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.