Xcel Wealth Management LLC Reduces Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Xcel Wealth Management LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 116,865 shares of the information services provider’s stock after selling 1,944 shares during the period. Alphabet makes up approximately 5.7% of Xcel Wealth Management LLC’s holdings, making the stock its 3rd biggest position. Xcel Wealth Management LLC’s holdings in Alphabet were worth $16,325,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of GOOGL. DC Investments Management LLC bought a new position in Alphabet in the first quarter worth $114,000. Bridgefront Capital LLC bought a new position in shares of Alphabet during the 1st quarter worth about $225,000. Worth Asset Management LLC acquired a new stake in shares of Alphabet during the 1st quarter valued at about $206,000. Eudaimonia Advisors LLC increased its stake in Alphabet by 15.1% in the first 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 period. Finally, Aspire Capital Advisors LLC acquired a new position in Alphabet in the first quarter worth about $281,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wedbush reaffirmed an “outperform” rating and set a $175.00 price objective on shares of Alphabet in a report on Wednesday, April 10th. KeyCorp upped their price target on Alphabet from $153.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, January 29th. Needham & Company LLC reiterated a “buy” rating and set a $160.00 price objective on shares of Alphabet in a research note on Wednesday, January 31st. Citigroup restated a “buy” rating and issued a $168.00 target price on shares of Alphabet in a research note on Wednesday, April 10th. Finally, Jefferies Financial Group increased their target price on shares of Alphabet from $175.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday. Five research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $158.41.

Insider Buying and Selling at Alphabet

In other news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the transaction, the director now directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total value of $2,985,750.00. Following the transaction, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frances Arnold sold 230 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 251,339 shares of company stock valued at $36,377,482. Corporate insiders own 0.88% of the company’s stock.

Alphabet Trading Down 1.2 %

NASDAQ GOOGL opened at $154.09 on Friday. Alphabet Inc. has a 12 month low of $102.63 and a 12 month high of $160.22. The stock has a 50-day simple moving average of $146.26 and a 200 day simple moving average of $140.54. 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 company has a market capitalization of $1.92 trillion, a PE ratio of 26.57, a P/E/G ratio of 1.43 and a beta of 1.05.

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

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.