Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Ninety One North America Inc.

Ninety One North America Inc. decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 621,143 shares of the information services provider’s stock after selling 47,329 shares during the quarter. Alphabet makes up about 4.2% of Ninety One North America Inc.’s holdings, making the stock its 5th biggest position. Ninety One North America Inc.’s holdings in Alphabet were worth $86,767,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of GOOGL. Federated Hermes Inc. increased its position in Alphabet by 0.9% during the fourth quarter. Federated Hermes Inc. now owns 2,501,685 shares of the information services provider’s stock worth $349,460,000 after buying an additional 23,454 shares during the last quarter. WestHill Financial Advisors Inc. boosted its stake in shares of Alphabet by 18.5% during the 4th quarter. WestHill Financial Advisors Inc. now owns 1,951 shares of the information services provider’s stock worth $273,000 after acquiring an additional 305 shares in the last quarter. Curran Financial Partners LLC acquired a new position in shares of Alphabet during the 4th quarter valued at about $706,000. Peterson Wealth Services raised its stake in shares of Alphabet by 9.1% in the 4th quarter. Peterson Wealth Services now owns 2,856 shares of the information services provider’s stock valued at $399,000 after acquiring an additional 239 shares in the last quarter. Finally, Arista Wealth Management LLC lifted its holdings in Alphabet by 8.0% in the 4th quarter. Arista Wealth Management LLC now owns 2,715 shares of the information services provider’s stock worth $379,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on GOOGL. Citigroup reissued a “buy” rating and issued a $168.00 price target on shares of Alphabet in a research report on Wednesday, April 10th. JMP Securities reissued a “market outperform” rating and set a $160.00 target price on shares of Alphabet in a research report on Wednesday, April 10th. Canaccord Genuity Group raised their price target on Alphabet from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Roth Mkm cut their price objective on Alphabet from $166.00 to $164.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. Finally, Truist Financial raised their target price on Alphabet from $158.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Five equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $158.71.

Alphabet Stock Down 2.0 %

Shares of NASDAQ:GOOGL opened at $156.00 on Friday. Alphabet Inc. has a 12 month low of $102.63 and a 12 month high of $160.22. The firm has a market cap of $1.94 trillion, a P/E ratio of 26.90, a P/E/G ratio of 1.46 and a beta of 1.05. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The company’s 50-day moving average price is $147.22 and its two-hundred day moving average price is $141.16.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share 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 business had revenue of $86.31 billion during the quarter, compared to analyst estimates of $70.77 billion. During the same quarter last year, the business posted $1.05 earnings per share. As a group, research analysts forecast that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction 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 approximately $362,516,961.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Frances Arnold sold 230 shares of Alphabet 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 completion of the sale, 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 the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated 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 directly owns 2,303,011 shares in the company, valued at approximately $362,516,961.51. The disclosure for this sale can be found here. In the last ninety days, insiders sold 251,339 shares of company stock valued at $36,377,482. Company insiders own 0.88% of the company’s stock.

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.