Perfromance Wealth Partners LLC Has $7.64 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Perfromance Wealth Partners LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,378 shares of the information services provider’s stock after selling 79 shares during the period. Alphabet accounts for about 0.2% of Perfromance Wealth Partners LLC’s portfolio, making the stock its 23rd biggest holding. Perfromance Wealth Partners LLC’s holdings in Alphabet were worth $7,643,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. International Assets Investment Management LLC lifted its holdings in Alphabet by 43,005.6% during the 3rd quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock worth $31,086,250,000 after purchasing an additional 18,700,111 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Alphabet by 587.4% during the 3rd quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock worth $1,772,991,000 after purchasing an additional 9,135,056 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in Alphabet by 116.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock worth $1,437,957,000 after purchasing an additional 4,662,809 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Alphabet by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after acquiring an additional 4,567,275 shares in the last quarter. Finally, Wulff Hansen & CO. raised its holdings in Alphabet by 18,810.2% in the 2nd quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock valued at $807,700,000 after acquiring an additional 4,410,811 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $197.55, for a total value of $559,856.70. Following the completion of the transaction, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at $4,085,531.55. This represents a 12.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Frances Arnold sold 441 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the transaction, the director now directly owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 133,387 shares of company stock valued at $24,368,654. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on GOOGL shares. Pivotal Research lifted their price objective on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Needham & Company LLC restated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Wednesday, October 30th. Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Robert W. Baird reaffirmed an “outperform” rating and set a $205.00 target price on shares of Alphabet in a report on Tuesday, December 10th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $217.00 target price (up from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Nine research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $209.44.

Alphabet Stock Performance

Shares of GOOGL opened at $200.21 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a 50 day moving average price of $186.46 and a two-hundred day moving average price of $173.69. The firm has a market capitalization of $2.45 trillion, a P/E ratio of 26.55, a P/E/G ratio of 1.27 and a beta of 0.98. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $202.29.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the previous year, the company posted $1.55 EPS. Equities analysts forecast that Alphabet Inc. will post 8.02 earnings per share for the current fiscal 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.