Signet Financial Management LLC Has $1.71 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Signet Financial Management LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,246 shares of the information services provider’s stock after selling 316 shares during the quarter. Signet Financial Management LLC’s holdings in Alphabet were worth $1,711,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Capital City Trust Co. FL lifted its stake in Alphabet by 4.0% in the third quarter. Capital City Trust Co. FL now owns 64,256 shares of the information services provider’s stock valued at $8,409,000 after buying an additional 2,443 shares during the period. CHURCHILL MANAGEMENT Corp increased its stake in shares of Alphabet by 16.1% in the 3rd quarter. CHURCHILL MANAGEMENT Corp now owns 250,079 shares of the information services provider’s stock valued at $32,725,000 after acquiring an additional 34,619 shares during the last quarter. Northwest Investment Counselors LLC raised its position in shares of Alphabet by 1.7% in the 3rd quarter. Northwest Investment Counselors LLC now owns 16,043 shares of the information services provider’s stock valued at $2,099,000 after acquiring an additional 271 shares during the period. Toth Financial Advisory Corp boosted its stake in Alphabet by 29.9% during the 3rd quarter. Toth Financial Advisory Corp now owns 66,448 shares of the information services provider’s stock worth $8,695,000 after acquiring an additional 15,282 shares during the last quarter. Finally, Granite Bay Wealth Management LLC acquired a new position in Alphabet during the third quarter valued at approximately $13,487,000. 40.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of recent analyst reports. Redburn Atlantic lifted their price target on shares of Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Barclays reduced their target price on Alphabet from $180.00 to $173.00 and set an “overweight” rating on the stock in a report on Wednesday, January 31st. Canaccord Genuity Group increased their price target on Alphabet from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Truist Financial lifted their price objective on Alphabet from $158.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $185.00 target price (up from $178.00) on shares of Alphabet in a research note on Wednesday, April 10th. Five research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $158.71.

Alphabet Stock Performance

NASDAQ GOOGL opened at $158.26 on Wednesday. The firm’s fifty day moving average price is $146.69 and its two-hundred day moving average price is $140.93. Alphabet Inc. has a 1 year low of $102.63 and a 1 year high of $160.22. The firm has a market capitalization of $1.97 trillion, a P/E ratio of 27.29, a price-to-earnings-growth ratio of 1.42 and a beta of 1.05. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating 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 company had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $70.77 billion. During the same period in the prior year, the firm earned $1.05 EPS. As a group, research analysts anticipate that Alphabet Inc. will post 6.78 EPS for the current year.

Insiders Place Their Bets

In other news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the sale, the director now directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction on Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the transaction, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 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 have sold a total of 251,339 shares of company stock valued at $36,377,482 over the last 90 days. 0.88% of the stock is currently owned by insiders.

About Alphabet

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.