SVB Wealth LLC Sells 13,803 Shares of Alphabet Inc. (NASDAQ:GOOGL)

SVB Wealth LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 226,548 shares of the information services provider’s stock after selling 13,803 shares during the quarter. Alphabet comprises about 0.8% of SVB Wealth LLC’s investment portfolio, making the stock its 23rd biggest position. SVB Wealth LLC’s holdings in Alphabet were worth $31,647,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Aire Advisors LLC increased its stake in shares of Alphabet by 0.6% in the fourth quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock valued at $1,645,000 after buying an additional 68 shares during the period. Defined Wealth Management LLC grew its stake in Alphabet by 2.9% during the fourth quarter. Defined Wealth Management LLC now owns 2,531 shares of the information services provider’s stock worth $354,000 after purchasing an additional 71 shares during the period. WealthCare Investment Partners LLC grew its stake in Alphabet by 2.1% during the fourth quarter. WealthCare Investment Partners LLC now owns 3,473 shares of the information services provider’s stock worth $482,000 after purchasing an additional 71 shares during the period. Peoples Financial Services CORP. grew its stake in Alphabet by 0.4% during the fourth quarter. Peoples Financial Services CORP. now owns 16,690 shares of the information services provider’s stock worth $2,331,000 after purchasing an additional 72 shares during the period. Finally, RAM Investment Partners LLC grew its stake in Alphabet by 1.0% during the fourth quarter. RAM Investment Partners LLC now owns 7,550 shares of the information services provider’s stock worth $1,055,000 after purchasing an additional 73 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on GOOGL. Canaccord Genuity Group raised their target price on Alphabet from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Wedbush reaffirmed an “outperform” rating and set a $175.00 target price on shares of Alphabet in a research note on Wednesday, April 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $155.00 price objective on shares of Alphabet in a research note on Wednesday, January 31st. Citigroup reissued a “buy” rating and issued a $168.00 price objective on shares of Alphabet in a research note on Wednesday, April 10th. Finally, Truist Financial raised 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. Five investment 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 currently has a consensus rating of “Moderate Buy” and an average target price of $158.71.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s 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 sale, the chief executive officer now directly owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction on Friday, April 12th. The stock was sold at an average price of $159.56, for a total value of $127,648.00. Following the completion of the transaction, the director now directly owns 7,991 shares in the company, valued at $1,275,043.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, April 17th. The shares were 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 owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock valued at $36,377,482 over the last ninety days. 0.88% of the stock is currently owned by insiders.

Alphabet Stock Performance

Shares of Alphabet stock opened at $158.26 on Wednesday. The business’s fifty day simple moving average is $146.69 and its 200 day simple moving average is $140.93. 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. Alphabet Inc. has a 12 month low of $102.63 and a 12 month high of $160.22. 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 quarterly earnings results 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 return on equity of 27.22% and a net margin of 24.01%. The business had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. During the same period last year, the company posted $1.05 earnings per share. As a group, analysts anticipate that Alphabet Inc. will post 6.78 EPS for the current year.

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.