Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Sheets Smith Wealth Management

Sheets Smith Wealth Management cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,739 shares of the information services provider’s stock after selling 574 shares during the quarter. Sheets Smith Wealth Management’s holdings in Alphabet were worth $2,601,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Conrad Siegel Investment Advisors Inc. grew its holdings in Alphabet by 0.5% during the fourth quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock worth $1,864,000 after acquiring an additional 53 shares during the period. Denver PWM LLC boosted its stake in shares of Alphabet by 25.4% during the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 57 shares during the last quarter. Ignite Planners LLC boosted its stake in shares of Alphabet by 0.4% during the fourth quarter. Ignite Planners LLC now owns 15,078 shares of the information services provider’s stock valued at $2,892,000 after acquiring an additional 57 shares during the last quarter. Fermata Advisors LLC boosted its stake in shares of Alphabet by 0.8% during the fourth quarter. Fermata Advisors LLC now owns 7,433 shares of the information services provider’s stock valued at $1,407,000 after acquiring an additional 57 shares during the last quarter. Finally, Winch Advisory Services LLC lifted its position in Alphabet by 1.3% during the fourth quarter. Winch Advisory Services LLC now owns 4,386 shares of the information services provider’s stock worth $830,000 after buying an additional 58 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $171.42, for a total value of $234,331.14. Following the sale, the chief accounting officer now owns 26,349 shares of the company’s stock, valued at approximately $4,516,745.58. The trade was a 4.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now directly owns 330,466 shares in the company, valued at $59,741,643.48. This represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 133,387 shares of company stock valued at $24,368,654 in the last quarter. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Up 1.1 %

Shares of Alphabet stock opened at $200.21 on Monday. The business’s fifty day moving average price is $186.46 and its two-hundred day moving average price is $173.69. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The company has a market capitalization of $2.45 trillion, a P/E ratio of 26.55, a PEG ratio of 1.27 and a beta of 0.98. Alphabet Inc. has a 1-year low of $130.66 and a 1-year high of $202.29.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the previous year, the business earned $1.55 EPS. As a group, research analysts forecast that Alphabet Inc. will post 8.02 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Robert W. Baird reiterated an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research report on Tuesday, December 10th. BMO Capital Markets restated an “outperform” rating and issued a $217.00 price objective (up from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. KeyCorp raised their price objective on Alphabet from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, January 10th. Finally, Morgan Stanley raised their price objective on Alphabet from $205.00 to $215.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $209.44.

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.