Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Albion Financial Group UT

Albion Financial Group UT cut its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 262,522 shares of the information services provider's stock after selling 1,835 shares during the period. Alphabet accounts for approximately 3.4% of Albion Financial Group UT's investment portfolio, making the stock its 6th largest holding. Albion Financial Group UT's holdings in Alphabet were worth $49,695,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Stevard LLC acquired a new position in shares of Alphabet during the second quarter valued at $334,000. Plato Investment Management Ltd increased its holdings in shares of Alphabet by 4.3% during the second quarter. Plato Investment Management Ltd now owns 130,979 shares of the information services provider's stock valued at $23,858,000 after purchasing an additional 5,410 shares during the period. Pine Harbor Wealth Management LLC increased its holdings in shares of Alphabet by 2.0% during the second quarter. Pine Harbor Wealth Management LLC now owns 8,306 shares of the information services provider's stock valued at $1,513,000 after purchasing an additional 164 shares during the period. Rathbones Group PLC increased its holdings in shares of Alphabet by 2.7% during the second quarter. Rathbones Group PLC now owns 4,244,505 shares of the information services provider's stock valued at $773,137,000 after purchasing an additional 111,496 shares during the period. Finally, Tennessee Valley Asset Management Partners acquired a new position in Alphabet during the second quarter worth about $251,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

GOOGL stock traded up $3.49 during trading on Tuesday, hitting $195.30. The company had a trading volume of 24,121,473 shares, compared to its average volume of 25,042,400. The company has a market cap of $2.39 trillion, a P/E ratio of 25.90, a P/E/G ratio of 1.27 and a beta of 0.98. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $202.29. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a fifty day moving average price of $186.79 and a two-hundred day moving average price of $173.61.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts' consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during 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 prior year, the company posted $1.55 earnings per share. Equities research analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on GOOGL shares. DA Davidson lifted their target price on Alphabet from $190.00 to $200.00 and gave the stock a "neutral" rating in a report on Friday. Scotiabank raised Alphabet to a "strong-buy" rating in a report on Friday, October 11th. JMP Securities reiterated a "market perform" rating on shares of Alphabet in a research report on Monday. Truist Financial increased their price target on Alphabet from $220.00 to $225.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $217.00 price target (up previously from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $209.82.

Insider Activity at Alphabet

In other Alphabet news, 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 value of $559,856.70. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares in the company, valued at $4,085,531.55. This represents a 12.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the sale, the director now owns 282,832 shares of the company's stock, valued at $52,329,576.64. This trade represents a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 133,387 shares of company stock worth $24,368,654. 11.55% of the stock is owned by insiders.

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.