Bay Rivers Group Trims Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Bay Rivers Group cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 3.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,144 shares of the information services provider’s stock after selling 1,019 shares during the period. Alphabet comprises approximately 2.4% of Bay Rivers Group’s portfolio, making the stock its 17th largest position. Bay Rivers Group’s holdings in Alphabet were worth $4,949,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GOOGL. LMR Partners LLP purchased a new stake in shares of Alphabet in the third quarter valued at about $32,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after buying an additional 166 shares during the last quarter. Denver PWM LLC raised its holdings in shares of Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after buying an additional 57 shares during the last quarter. Quarry LP acquired a new position in shares of Alphabet during the second quarter worth about $53,000. Finally, Teachers Insurance & Annuity Association of America acquired a new position in shares of Alphabet during the third quarter worth about $66,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price target on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Roth Mkm boosted their price target on shares of Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. JMP Securities reiterated a “market perform” rating on shares of Alphabet in a research note on Monday, January 27th. Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Finally, Wolfe Research boosted their price target on shares of Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Nine research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $211.00.

Alphabet Stock Performance

NASDAQ GOOGL opened at $201.23 on Tuesday. The business’s 50-day moving average price is $188.97 and its 200 day moving average price is $174.03. Alphabet Inc. has a twelve month low of $130.66 and a twelve month high of $205.48. The company has a market capitalization of $2.46 trillion, a PE ratio of 26.69, a price-to-earnings-growth ratio of 1.31 and a beta of 0.99. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total value of $3,990,600.00. Following the sale, the chief executive officer now owns 2,084,306 shares of the company’s stock, valued at $369,672,512.16. This represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 122,529 shares of company stock worth $22,453,483. 11.55% of the stock is owned by company insiders.

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.