Inlet Private Wealth LLC Cuts Stake in Alphabet Inc. (NASDAQ:GOOGL)

Inlet Private Wealth LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,333 shares of the information services provider’s stock after selling 320 shares during the period. Inlet Private Wealth LLC’s holdings in Alphabet were worth $4,202,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Christopher J. Hasenberg Inc increased its stake in Alphabet by 75.0% during the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares during the period. Kings Path Partners LLC acquired a new stake in Alphabet during the 2nd quarter valued at approximately $36,000. Tributary Capital Management LLC purchased a new stake in Alphabet during the 1st quarter worth approximately $30,000. Denver PWM LLC acquired a new position in shares of Alphabet in the 2nd quarter valued at approximately $41,000. Finally, Quarry LP purchased a new position in shares of Alphabet during the 2nd quarter valued at approximately $53,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on GOOGL shares. Bank of America upped their price target on shares of Alphabet from $200.00 to $206.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Evercore ISI cut their target price on shares of Alphabet from $225.00 to $200.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Pivotal Research upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, October 1st. Wedbush restated an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research note on Thursday. Finally, Truist Financial lifted their target price on Alphabet from $196.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Seven equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $201.76.

Insider Transactions at Alphabet

In related news, SVP Prabhakar Raghavan sold 34,257 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $162.60, for a total transaction of $5,570,188.20. Following the completion of the transaction, the senior vice president now owns 312,210 shares of the company’s stock, valued at $50,765,346. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 34,257 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $162.60, for a total value of $5,570,188.20. Following the sale, the senior vice president now directly owns 312,210 shares in the company, valued at approximately $50,765,346. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the transaction, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 220,426 shares of company stock valued at $35,993,340. Corporate insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $165.27 on Friday. The stock’s 50 day moving average price is $161.95 and its 200 day moving average price is $168.51. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08. The stock has a market cap of $2.03 trillion, a price-to-earnings ratio of 23.71, a PEG ratio of 1.27 and a beta of 1.04. Alphabet Inc. has a 12 month low of $120.21 and a 12 month high of $191.75.

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.