Wetzel Investment Advisors Inc. Decreases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Wetzel Investment Advisors Inc. decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,174 shares of the information services provider’s stock after selling 190 shares during the quarter. Wetzel Investment Advisors Inc.’s holdings in Alphabet were worth $1,169,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in GOOGL. Schear Investment Advisers LLC grew its stake in Alphabet by 17.0% during the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock worth $5,598,000 after purchasing an additional 4,905 shares in the last quarter. Trinity Financial Advisors LLC raised its stake in Alphabet by 4.5% during the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $771,000 after acquiring an additional 190 shares in the last quarter. Landscape Capital Management L.L.C. increased its stake in Alphabet by 27.9% in the third quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock valued at $4,192,000 after purchasing an additional 5,516 shares during the period. abrdn plc increased its stake in Alphabet by 10.7% in the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after purchasing an additional 611,233 shares during the period. Finally, StoneCrest Wealth Management Inc. increased its stake in Alphabet by 0.7% in the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock valued at $3,567,000 after purchasing an additional 140 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’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 transaction, the chief executive officer now 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 document filed with the SEC, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $177.41, for a total value of $1,862,805.00. Following the sale, the director now owns 319,966 shares of the company’s stock, valued at approximately $56,765,168.06. This trade represents a 3.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 122,529 shares of company stock valued at $22,453,483 over the last three months. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Down 1.4 %

Shares of Alphabet stock opened at $201.23 on Tuesday. The stock’s fifty day moving average is $188.97 and its 200-day moving average is $174.03. The firm 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 quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $205.48.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Bank of America reiterated a “buy” rating and set a $210.00 price target on shares of Alphabet in a research note on Monday, December 23rd. Evercore ISI raised their price target on Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Truist Financial raised their price target on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Pivotal Research raised their price objective on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Scotiabank upgraded Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Nine investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $211.00.

About Alphabet

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.