Alphabet Inc. (NASDAQ:GOOGL) Stake Cut by Flossbach Von Storch AG

Flossbach Von Storch AG lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 11,294,943 shares of the information services provider’s stock after selling 553,063 shares during the quarter. Alphabet comprises about 7.2% of Flossbach Von Storch AG’s portfolio, making the stock its 2nd biggest position. Flossbach Von Storch AG’s holdings in Alphabet were worth $1,577,791,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Aire Advisors LLC raised its position in Alphabet by 0.6% during the 4th quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock valued at $1,645,000 after purchasing an additional 68 shares during the last quarter. Defined Wealth Management LLC raised its holdings in shares of Alphabet by 2.9% during the fourth quarter. Defined Wealth Management LLC now owns 2,531 shares of the information services provider’s stock valued at $354,000 after acquiring an additional 71 shares in the last quarter. WealthCare Investment Partners LLC lifted its stake in Alphabet by 2.1% in the fourth quarter. WealthCare Investment Partners LLC now owns 3,473 shares of the information services provider’s stock worth $482,000 after acquiring an additional 71 shares during the period. Peoples Financial Services CORP. boosted its holdings in Alphabet by 0.4% in the fourth quarter. Peoples Financial Services CORP. now owns 16,690 shares of the information services provider’s stock valued at $2,331,000 after acquiring an additional 72 shares in the last quarter. Finally, RAM Investment Partners LLC increased its position in Alphabet by 1.0% during the 4th quarter. RAM Investment Partners LLC now owns 7,550 shares of the information services provider’s stock valued at $1,055,000 after purchasing an additional 73 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of research reports. BMO Capital Markets reissued an “outperform” rating and issued a $185.00 price target (up from $178.00) on shares of Alphabet in a research note on Wednesday, April 10th. Canaccord Genuity Group raised their target price on Alphabet from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Wolfe Research upped their price target on Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Wedbush reissued an “outperform” rating and set a $175.00 price objective on shares of Alphabet in a research report on Wednesday, April 10th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $160.00 target price on shares of Alphabet in a research report on Wednesday, April 10th. Five analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $158.71.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the sale, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the sale, the chief accounting officer now owns 27,920 shares in the company, valued at approximately $4,009,032.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the sale, the chief executive officer now owns 2,332,691 shares in the company, valued at $309,548,095.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 251,339 shares of company stock valued at $36,377,482. Company insiders own 0.88% of the company’s stock.

Alphabet Stock Down 2.0 %

NASDAQ GOOGL opened at $156.00 on Friday. Alphabet Inc. has a 52 week low of $102.63 and a 52 week high of $160.22. 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 has a market capitalization of $1.94 trillion, a P/E ratio of 26.90, a price-to-earnings-growth ratio of 1.46 and a beta of 1.05. The stock’s 50-day moving average price is $147.22 and its 200-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 the consensus estimate of $1.60 by $0.04. The business 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 quarter in the previous year, the firm earned $1.05 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 6.78 earnings per share for the current year.

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.