Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by GraniteShares Advisors LLC

GraniteShares Advisors LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 12.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 20,879 shares of the information services provider’s stock after selling 2,913 shares during the quarter. Alphabet accounts for about 2.6% of GraniteShares Advisors LLC’s holdings, making the stock its 2nd biggest position. GraniteShares Advisors LLC’s holdings in Alphabet were worth $2,917,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Allen Capital Group LLC lifted its position in shares of Alphabet by 3.8% during the 4th quarter. Allen Capital Group LLC now owns 37,111 shares of the information services provider’s stock valued at $5,184,000 after acquiring an additional 1,368 shares during the period. Macroview Investment Management LLC raised its stake in Alphabet by 267.7% in the fourth quarter. Macroview Investment Management LLC now owns 1,173 shares of the information services provider’s stock valued at $164,000 after purchasing an additional 854 shares in the last quarter. Eagle Bluffs Wealth Management LLC lifted its position in Alphabet by 0.9% during the fourth quarter. Eagle Bluffs Wealth Management LLC now owns 19,427 shares of the information services provider’s stock worth $2,714,000 after purchasing an additional 170 shares during the period. Wealth Alliance grew its stake in Alphabet by 4.2% during the fourth quarter. Wealth Alliance now owns 39,115 shares of the information services provider’s stock worth $5,464,000 after buying an additional 1,586 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. increased its holdings in Alphabet by 16.0% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 4,053 shares of the information services provider’s stock valued at $566,000 after buying an additional 559 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL opened at $159.13 on Thursday. The firm’s fifty day simple moving average is $146.96 and its two-hundred day simple moving average is $141.06. 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. The stock has a market capitalization of $1.98 trillion, a P/E ratio of 27.44, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $70.77 billion. During the same quarter last year, the firm posted $1.05 earnings per share. As a group, analysts predict that Alphabet Inc. will post 6.78 EPS for the current year.

Insider Transactions at Alphabet

In related news, Director Frances Arnold sold 230 shares of the 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 can be accessed through this hyperlink. In related news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the sale, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frances Arnold sold 230 shares of the company’s 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 transaction, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Insiders sold a total of 251,339 shares of company stock valued at $36,377,482 in the last quarter. 0.88% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $155.00 price target on shares of Alphabet in a report on Wednesday, January 31st. KeyCorp raised their target price on Alphabet from $165.00 to $175.00 and gave the company an “overweight” rating in a report on Monday. Truist Financial lifted their price target on Alphabet from $158.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Susquehanna upped their price objective on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Finally, Jefferies Financial Group lifted their target price on Alphabet from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, April 19th. 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $158.71.

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.