Heirloom Wealth Management Sells 6,715 Shares of Alphabet Inc. (NASDAQ:GOOG)

Heirloom Wealth Management decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 5.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 121,396 shares of the information services provider's stock after selling 6,715 shares during the quarter. Alphabet makes up 6.9% of Heirloom Wealth Management's holdings, making the stock its 4th biggest position. Heirloom Wealth Management's holdings in Alphabet were worth $23,119,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. James Hambro & Partners LLP boosted its holdings in shares of Alphabet by 1.5% during the fourth quarter. James Hambro & Partners LLP now owns 878,197 shares of the information services provider's stock worth $167,266,000 after acquiring an additional 13,274 shares during the period. Mount Yale Investment Advisors LLC lifted its holdings in Alphabet by 1.5% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 74,535 shares of the information services provider's stock worth $14,194,000 after purchasing an additional 1,071 shares during the last quarter. Ridgecrest Wealth Partners LLC boosted its stake in Alphabet by 3.5% in the 4th quarter. Ridgecrest Wealth Partners LLC now owns 23,797 shares of the information services provider's stock valued at $4,532,000 after purchasing an additional 800 shares during the period. Valued Wealth Advisors LLC grew its holdings in Alphabet by 19.6% in the 4th quarter. Valued Wealth Advisors LLC now owns 830 shares of the information services provider's stock valued at $158,000 after buying an additional 136 shares in the last quarter. Finally, McLean Asset Management Corp increased its position in Alphabet by 10.1% during the 4th quarter. McLean Asset Management Corp now owns 5,953 shares of the information services provider's stock worth $1,134,000 after buying an additional 548 shares during the period. 27.26% of the stock is owned by institutional investors.

Insider Activity at Alphabet

In other news, Director Frances Arnold sold 441 shares of the firm's stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the transaction, the director now owns 16,490 shares of the company's stock, valued at approximately $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 37,134 shares of the business's stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the sale, the director now directly owns 282,832 shares in the company, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 121,630 shares of company stock valued at $22,258,133 in the last 90 days. 12.99% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently commented on GOOG. UBS Group upped their price target on shares of Alphabet from $187.00 to $192.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Citizens Jmp lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 2nd. Canaccord Genuity Group lifted their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Jefferies Financial Group increased their price target on Alphabet from $220.00 to $235.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted their price objective on Alphabet from $208.00 to $212.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and an average price target of $206.69.

Alphabet Price Performance

Shares of Alphabet stock traded up $2.97 during midday trading on Friday, hitting $205.60. 17,059,516 shares of the company traded hands, compared to its average volume of 16,222,196. The firm's fifty day moving average price is $189.70 and its 200-day moving average price is $175.54. The stock has a market cap of $2.52 trillion, a price-to-earnings ratio of 27.27, a PEG ratio of 1.27 and a beta of 0.99. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $207.08. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts' consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion for the quarter, compared to analysts' expectations of $86.39 billion. During the same quarter in the previous year, the firm posted $1.55 earnings per share. The company's revenue was up 15.1% on a year-over-year basis. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.02 earnings per share for the current 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.