New World Advisors LLC Has $525,000 Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

New World Advisors LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,758 shares of the information services provider’s stock after selling 415 shares during the quarter. Alphabet accounts for 0.2% of New World Advisors LLC’s holdings, making the stock its 26th biggest position. New World Advisors LLC’s holdings in Alphabet were worth $525,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Alphabet by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 487,435,495 shares of the information services provider’s stock worth $63,785,809,000 after buying an additional 1,302,104 shares in the last quarter. FMR LLC increased its position in shares of Alphabet by 5.6% in the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after acquiring an additional 12,070,681 shares during the last quarter. State Street Corp raised its holdings in Alphabet by 1,900.6% during the third quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after acquiring an additional 206,300,042 shares in the last quarter. Moneta Group Investment Advisors LLC raised its holdings in Alphabet by 111,197.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock worth $15,036,178,000 after acquiring an additional 170,267,122 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Alphabet by 1.3% during the first quarter. Geode Capital Management LLC now owns 118,576,618 shares of the information services provider’s stock valued at $12,271,705,000 after purchasing an additional 1,499,107 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. KeyCorp boosted their price target on Alphabet from $153.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, January 29th. Wedbush reaffirmed an “outperform” rating and set a $175.00 price target on shares of Alphabet in a research report on Wednesday, April 10th. Redburn Atlantic increased their price target 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. Barclays lowered their price objective on shares of Alphabet from $180.00 to $173.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 31st. Finally, Wells Fargo & Company cut their target price on shares of Alphabet from $144.00 to $141.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 3rd. Five research 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $157.97.

Alphabet Stock Performance

Alphabet stock opened at $156.01 on Friday. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The stock has a market cap of $1.94 trillion, a PE ratio of 26.90, a P/E/G ratio of 1.42 and a beta of 1.05. Alphabet Inc. has a 12-month low of $102.63 and a 12-month high of $160.22. The business’s 50-day moving average price is $146.16 and its two-hundred day moving average price is $140.40.

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

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 2,303,011 shares in the company, valued at approximately $362,516,961.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’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 transaction of $3,541,725.00. Following the sale, the chief executive officer now directly owns 2,303,011 shares in the company, valued at $362,516,961.51. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 251,339 shares of company stock valued at $36,377,482. 0.88% of the stock is currently owned by insiders.

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.