Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Grant GrossMendelsohn LLC

Grant GrossMendelsohn LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,783 shares of the information services provider’s stock after selling 69 shares during the quarter. Grant GrossMendelsohn LLC’s holdings in Alphabet were worth $728,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in GOOGL. FMR LLC boosted its holdings 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 worth $29,746,764,000 after buying an additional 12,070,681 shares during the period. Northern Trust Corp boosted its holdings in shares of Alphabet by 3.7% in the third quarter. Northern Trust Corp now owns 67,684,197 shares of the information services provider’s stock worth $8,857,154,000 after buying an additional 2,416,328 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Alphabet by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 34,035,275 shares of the information services provider’s stock worth $4,453,856,000 after buying an additional 335,219 shares during the period. American Century Companies Inc. boosted its holdings in shares of Alphabet by 7.8% in the third quarter. American Century Companies Inc. now owns 25,064,614 shares of the information services provider’s stock worth $3,279,955,000 after buying an additional 1,809,910 shares during the period. Finally, Jennison Associates LLC boosted its holdings in shares of Alphabet by 9.3% in the third quarter. Jennison Associates LLC now owns 24,145,417 shares of the information services provider’s stock worth $3,159,669,000 after buying an additional 2,058,221 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on GOOGL. Wolfe Research raised their target price on shares of Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. JMP Securities restated a “market outperform” rating and set a $160.00 price target on shares of Alphabet in a report on Wednesday, April 10th. UBS Group raised their price target on shares of Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Citigroup restated a “buy” rating and set a $168.00 price target on shares of Alphabet in a report on Wednesday, April 10th. Finally, Jefferies Financial Group raised their price target on shares of Alphabet from $175.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Five research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned 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 an average target price of $158.71.

Alphabet Trading Up 1.3 %

Shares of GOOGL stock opened at $158.26 on Wednesday. The stock has a market cap of $1.97 trillion, a price-to-earnings ratio of 27.29, a P/E/G ratio of 1.42 and a beta of 1.05. 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 firm has a fifty day moving average of $146.69 and a 200-day moving average of $140.93. Alphabet Inc. has a 52-week low of $102.63 and a 52-week high of $160.22.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS 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 for the quarter, compared to analyst estimates of $70.77 billion. During the same quarter in the prior year, the firm earned $1.05 EPS. On average, equities research analysts forecast that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alphabet news, Director Frances Arnold sold 230 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the sale, the director now owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the transaction, the director now owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction dated 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 directly owns 15,104 shares in the company, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Insiders have sold a total of 251,339 shares of company stock valued at $36,377,482 in the last 90 days. 0.88% of the stock is currently owned by insiders.

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.