Ardent Capital Management Inc. Sells 100 Shares of Alphabet Inc. $GOOGL

Ardent Capital Management Inc. cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,229 shares of the information services provider’s stock after selling 100 shares during the quarter. Alphabet comprises 2.0% of Ardent Capital Management Inc.’s investment portfolio, making the stock its 9th biggest position. Ardent Capital Management Inc.’s holdings in Alphabet were worth $4,270,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GOOGL. Mystic Asset Management Inc. raised its stake in Alphabet by 6.7% during the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider’s stock worth $4,400,000 after purchasing an additional 1,791 shares during the period. Harbour Trust & Investment Management Co raised its stake in Alphabet by 0.3% during the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider’s stock worth $4,187,000 after purchasing an additional 80 shares during the period. Cypress Capital LLC raised its stake in Alphabet by 4.1% during the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider’s stock worth $2,213,000 after purchasing an additional 563 shares during the period. Bridgeway Capital Management LLC raised its stake in Alphabet by 17.9% during the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock worth $13,637,000 after purchasing an additional 13,371 shares during the period. Finally, Alaethes Wealth LLC raised its stake in Alphabet by 1.1% during the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after purchasing an additional 84 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 2.5%

Shares of GOOGL stock opened at $281.48 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a market capitalization of $3.40 trillion, a P/E ratio of 27.76, a price-to-earnings-growth ratio of 1.86 and a beta of 1.00. The company has a 50 day moving average price of $242.49 and a 200 day moving average price of $198.83. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $291.59.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. The firm had revenue of $102.35 billion during the quarter, compared to analysts’ expectations of $99.90 billion. Alphabet had a net margin of 32.23% and a return on equity of 36.08%. Equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $249.50, for a total transaction of $8,108,750.00. Following the transaction, the chief executive officer owned 2,397,392 shares of the company’s stock, valued at $598,149,304. This trade represents a 1.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 246,150 shares of company stock worth $55,805,379 in the last 90 days. Corporate insiders own 11.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Alphabet from $260.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday. HSBC boosted their price target on shares of Alphabet from $295.00 to $335.00 and gave the company a “buy” rating in a research note on Thursday. Wedbush reissued an “outperform” rating and issued a $320.00 price target (up from $245.00) on shares of Alphabet in a research note on Thursday. JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $300.00 to $340.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Canaccord Genuity Group boosted their price target on shares of Alphabet from $270.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $301.32.

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.