Goodman Advisory Group LLC Has $5.23 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Goodman Advisory Group LLC lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 28.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 37,417 shares of the information services provider’s stock after selling 15,058 shares during the period. Alphabet comprises approximately 1.8% of Goodman Advisory Group LLC’s portfolio, making the stock its 18th biggest holding. Goodman Advisory Group LLC’s holdings in Alphabet were worth $5,227,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. RWQ Financial Management Services Inc. boosted its stake in Alphabet by 8.2% in the fourth quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock valued at $8,591,000 after buying an additional 4,664 shares in the last quarter. Ballast Advisors LLC lifted its stake in Alphabet by 9.6% in the 3rd quarter. Ballast Advisors LLC now owns 15,747 shares of the information services provider’s stock valued at $2,061,000 after purchasing an additional 1,385 shares during the last quarter. Quantum Financial Advisors LLC boosted its position in Alphabet by 8.0% in the third quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock valued at $998,000 after buying an additional 564 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Alphabet by 2.4% during the third quarter. Acadian Asset Management LLC now owns 4,416,533 shares of the information services provider’s stock worth $577,908,000 after buying an additional 104,366 shares during the last quarter. Finally, NatWest Group plc lifted its stake in shares of Alphabet by 239.0% in the 4th quarter. NatWest Group plc now owns 100,793 shares of the information services provider’s stock valued at $14,080,000 after acquiring an additional 71,057 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the 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 sale, the chief executive officer now owns 2,303,011 shares in the company, valued at $362,516,961.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the transaction, the director now owns 7,991 shares in the company, valued at $1,275,043.96. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock worth $36,377,482 in the last three months. Corporate insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on GOOGL shares. Redburn Atlantic increased their target price on Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Jefferies Financial Group upped their price target on shares of Alphabet from $175.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Needham & Company LLC reissued a “buy” rating and issued a $160.00 price objective on shares of Alphabet in a research note on Wednesday, January 31st. Wolfe Research raised their target price on Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Finally, JMP Securities reissued a “market outperform” rating and issued a $160.00 price target on shares of Alphabet in a research note on Wednesday, April 10th. Five equities 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $158.71.

Alphabet Trading Up 0.5 %

NASDAQ:GOOGL opened at $159.13 on Thursday. 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 Inc. has a 12 month low of $102.63 and a 12 month high of $160.22. The stock has a market capitalization of $1.98 trillion, a PE ratio of 27.44, a price-to-earnings-growth ratio of 1.44 and a beta of 1.05. The firm’s 50 day moving average is $146.96 and its 200 day moving average is $141.06.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $70.77 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. During the same period in the prior year, the firm posted $1.05 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 6.78 earnings per share 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.