Tranquility Partners LLC Has $3.02 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Tranquility Partners LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,643 shares of the information services provider’s stock after selling 451 shares during the quarter. Alphabet accounts for approximately 1.3% of Tranquility Partners LLC’s investment portfolio, making the stock its 17th largest position. Tranquility Partners LLC’s holdings in Alphabet were worth $3,023,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in GOOGL. Meritage Group LP grew its position in Alphabet by 1,061.5% during the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after acquiring an additional 276 shares during the last quarter. Macroview Investment Management LLC grew its holdings in shares of Alphabet by 165.8% during the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after purchasing an additional 199 shares during the last quarter. Armor Investment Advisors LLC increased its stake in shares of Alphabet by 31.0% in the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after buying an additional 80 shares during the period. Valued Wealth Advisors LLC bought a new position in Alphabet in the 4th quarter valued at approximately $55,000. Finally, LFA Lugano Financial Advisors SA boosted its position in Alphabet by 301.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 522 shares of the information services provider’s stock worth $73,000 after buying an additional 392 shares during the period. Institutional investors own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s 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 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the sale, the chief financial officer now directly owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction of $3,541,725.00. Following the transaction, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at approximately $362,516,961.51. The disclosure for this sale can be found here. Insiders have sold 251,339 shares of company stock valued at $36,377,482 over the last ninety days. Corporate insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Mizuho upped their price target on shares of Alphabet from $155.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. KeyCorp raised their target price on Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday. Canaccord Genuity Group upped 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. Royal Bank of Canada restated an “outperform” rating and set a $155.00 price objective on shares of Alphabet in a research report on Wednesday, January 31st. Finally, UBS Group upped their target price on Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Five research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $158.71.

Alphabet Stock Performance

Shares of 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 debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The stock has a 50 day moving average price of $147.22 and a two-hundred day moving average price of $141.16. The firm has a market capitalization 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.

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