Sharp Financial Services LLC Increases Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Sharp Financial Services LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 6.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,141 shares of the information services provider’s stock after buying an additional 290 shares during the period. Alphabet makes up approximately 0.7% of Sharp Financial Services LLC’s investment portfolio, making the stock its 24th largest holding. Sharp Financial Services LLC’s holdings in Alphabet were worth $973,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of GOOGL. LMR Partners LLP acquired a new stake in Alphabet during the third quarter worth about $32,000. Denver PWM LLC boosted its position in Alphabet by 25.4% in the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after purchasing an additional 57 shares in the last quarter. Quarry LP acquired a new stake in shares of Alphabet during the 2nd quarter worth approximately $53,000. Teachers Insurance & Annuity Association of America purchased a new position in shares of Alphabet during the 3rd quarter valued at approximately $66,000. Finally, Mendota Financial Group LLC lifted its stake in shares of Alphabet by 19.0% in the 3rd quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock valued at $67,000 after purchasing an additional 64 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Trading Down 4.2 %

NASDAQ:GOOGL opened at $191.81 on Tuesday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $202.29. The stock’s 50 day moving average price is $186.46 and its 200 day moving average price is $173.57. The company has a market capitalization of $2.35 trillion, a PE ratio of 25.44, a P/E/G ratio of 1.27 and a beta of 0.98.

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

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the transaction, the chief executive officer now directly owns 2,084,306 shares in the company, valued at $369,672,512.16. The trade was a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $197.55, for a total transaction of $559,856.70. Following 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 133,387 shares of company stock valued at $24,368,654. Company insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Pivotal Research upped their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. DA Davidson upped their price target on Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday. JPMorgan Chase & Co. raised their price objective on Alphabet from $212.00 to $232.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Morgan Stanley upped their target price on Alphabet from $205.00 to $215.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Finally, Wedbush increased their target price on Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. Nine equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $209.82.

Alphabet 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.