Drake & Associates LLC Has $478,000 Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Drake & Associates LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 6.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,419 shares of the information services provider’s stock after selling 234 shares during the quarter. Drake & Associates LLC’s holdings in Alphabet were worth $478,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. FMR LLC increased its stake in Alphabet by 5.6% in the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after buying an additional 12,070,681 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Alphabet by 4,894.1% in the fourth quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock valued at $7,606,670,000 after acquiring an additional 5,336,359 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of Alphabet during the third quarter valued at approximately $634,465,000. Ontario Teachers Pension Plan Board bought a new stake in Alphabet during the third quarter worth $601,545,000. Finally, Lone Pine Capital LLC purchased a new position in Alphabet in the third quarter worth $407,367,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the transaction, the chief executive officer now directly owns 2,377,691 shares in the company, valued at approximately $347,832,416.39. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the completion of the sale, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction on Tuesday, January 30th. The stock was 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 directly owns 15,104 shares in the company, valued at $2,326,922.24. The disclosure for this sale can be found here. Insiders sold a total of 251,339 shares of company stock worth $36,377,482 over the last three months. Company insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on GOOGL shares. UBS Group lifted their target price on Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. Jefferies Financial Group boosted their target price on shares of Alphabet from $175.00 to $180.00 and gave the company a “buy” rating in a research note on Friday. Redburn Atlantic raised their price target on shares of Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Truist Financial upped their price objective on Alphabet from $158.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $160.00 target price on shares of Alphabet in a research report on Wednesday, January 31st. Five equities 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. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $158.71.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $156.28 on Tuesday. The company has a market capitalization of $1.94 trillion, a price-to-earnings ratio of 26.94, a PEG ratio of 1.42 and a beta of 1.05. The business has a 50 day moving average of $146.43 and a 200 day moving average of $140.78. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. Alphabet Inc. has a 1-year low of $102.63 and a 1-year high of $160.22.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping 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 firm had revenue of $86.31 billion during the quarter, compared to analyst estimates of $70.77 billion. During the same period in the previous year, the business posted $1.05 EPS. On average, sell-side analysts predict that Alphabet Inc. will post 6.78 earnings per share for the current fiscal 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.