Luts & Greenleigh Group Inc. Reduces Position in Alphabet Inc. (NASDAQ:GOOGL)

Luts & Greenleigh Group Inc. reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 3.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,220 shares of the information services provider’s stock after selling 210 shares during the quarter. Alphabet comprises approximately 0.9% of Luts & Greenleigh Group Inc.’s portfolio, making the stock its 25th biggest holding. Luts & Greenleigh Group Inc.’s holdings in Alphabet were worth $729,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. DC Investments Management LLC purchased a new stake in shares of Alphabet during the first quarter worth about $114,000. Bridgefront Capital LLC acquired a new stake in Alphabet during the first quarter worth approximately $225,000. Worth Asset Management LLC purchased a new stake in Alphabet in the 1st quarter worth approximately $206,000. Eudaimonia Advisors LLC raised its holdings in 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 acquiring an additional 13 shares during the last quarter. Finally, Aspire Capital Advisors LLC purchased a new position in shares of Alphabet during the 1st quarter worth $281,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Up 0.3 %

Shares of GOOGL opened at $156.01 on Friday. Alphabet Inc. has a one year low of $102.63 and a one year high of $160.22. The stock has a 50-day moving average price of $146.16 and a 200 day moving average price of $140.40. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The company has a market capitalization of $1.94 trillion, a P/E ratio of 26.90, a P/E/G ratio of 1.42 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last released 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. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The company had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. During the same period in the prior year, the business posted $1.05 EPS. Sell-side analysts forecast that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Insider Buying and Selling at Alphabet

In other news, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the sale, the senior vice president now owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the sale, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The sale was disclosed in a filing with the SEC, which can be accessed 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 sale, the director now owns 7,991 shares in the company, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. Insiders have sold 251,339 shares of company stock worth $36,377,482 in the last ninety days. 0.88% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GOOGL. Roth Mkm dropped 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. Redburn Atlantic upped their price objective on shares of Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. BMO Capital Markets reissued an “outperform” rating and issued a $185.00 target price (up from $178.00) on shares of Alphabet in a research report on Wednesday, April 10th. Wells Fargo & Company dropped their price target on shares of Alphabet from $144.00 to $141.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $155.00 price target on shares of Alphabet in a research note on Wednesday, January 31st. Five analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $157.97.

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.