Baker Chad R Cuts Position in Alphabet Inc. (NASDAQ:GOOGL)

Baker Chad R lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 133,510 shares of the information services provider’s stock after selling 960 shares during the quarter. Alphabet comprises 4.2% of Baker Chad R’s investment portfolio, making the stock its 4th largest holding. Baker Chad R’s holdings in Alphabet were worth $18,650,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Alphabet by 0.3% during the third quarter. Vanguard Group Inc. now owns 487,435,495 shares of the information services provider’s stock valued at $63,785,809,000 after purchasing an additional 1,302,104 shares during the period. FMR LLC increased its position in Alphabet by 5.6% in the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after buying an additional 12,070,681 shares in the last quarter. State Street Corp increased its position in Alphabet by 1,900.6% in the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after buying an additional 206,300,042 shares in the last quarter. Moneta Group Investment Advisors LLC raised its stake in Alphabet by 111,197.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock worth $15,036,178,000 after buying an additional 170,267,122 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Alphabet by 1.3% in the first quarter. Geode Capital Management LLC now owns 118,576,618 shares of the information services provider’s stock worth $12,271,705,000 after acquiring an additional 1,499,107 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Truist Financial lowered their target price on Alphabet from $160.00 to $158.00 and set a “buy” rating on the stock in a research report on Wednesday, January 31st. BMO Capital Markets raised their price objective on shares of Alphabet from $170.00 to $178.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Wells Fargo & Company reduced their price objective on shares of Alphabet from $144.00 to $141.00 and set an “equal weight” rating for the company in a report on Wednesday. Susquehanna upped their target price on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Finally, JMP Securities lifted their price target on Alphabet from $150.00 to $160.00 and gave the company a “market outperform” rating in a research note on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $155.39.

Alphabet Stock Up 1.3 %

Shares of NASDAQ:GOOGL opened at $152.50 on Friday. The firm has a fifty day moving average price of $144.20 and a two-hundred day moving average price of $138.88. The company has a market cap of $1.90 trillion, a price-to-earnings ratio of 26.29, a PEG ratio of 1.39 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. Alphabet Inc. has a one year low of $102.63 and a one year high of $155.74.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data 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. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The company had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $70.77 billion. During the same quarter last year, the business posted $1.05 earnings per share. Analysts anticipate that Alphabet Inc. will post 6.77 EPS for the current fiscal year.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $142.14, for a total transaction of $3,198,150.00. Following the completion of the transaction, the chief executive officer now owns 2,400,191 shares of the company’s stock, valued at $341,163,148.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $142.14, for a total transaction of $3,198,150.00. Following the sale, the chief executive officer now owns 2,400,191 shares in the company, valued at approximately $341,163,148.74. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $143.49, for a total value of $28,698.00. Following the sale, the director now owns 6,784 shares in the company, valued at approximately $973,436.16. The disclosure for this sale can be found here. Insiders have sold a total of 250,739 shares of company stock valued at $35,934,957 in the last 90 days. Corporate insiders own 0.88% of the company’s stock.

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.