Alphabet Inc. (NASDAQ:GOOGL) Holdings Lowered by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,904 shares of the information services provider's stock after selling 2,040 shares during the quarter. Cornerstone Wealth Management LLC's holdings in Alphabet were worth $7,743,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC grew its holdings in shares of Alphabet by 43,005.6% during the third quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider's stock worth $31,086,250,000 after buying an additional 18,700,111 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Alphabet by 587.4% in the 3rd quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider's stock valued at $1,772,991,000 after acquiring an additional 9,135,056 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Alphabet by 116.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider's stock worth $1,437,957,000 after purchasing an additional 4,662,809 shares during the last quarter. JPMorgan Chase & Co. raised its position in Alphabet by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider's stock worth $10,559,240,000 after acquiring an additional 4,567,275 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of Alphabet by 115.4% in the second quarter. Clearbridge Investments LLC now owns 6,939,456 shares of the information services provider's stock valued at $1,264,022,000 after buying an additional 3,718,420 shares during the last quarter. Institutional investors own 40.03% of the company's stock.

Analysts Set New Price Targets

GOOGL has been the subject of several recent research reports. Wells Fargo & Company boosted their price target on Alphabet from $187.00 to $190.00 and gave the company an "equal weight" rating in a research note on Monday, January 13th. Bank of America reaffirmed a "buy" rating and issued a $210.00 target price on shares of Alphabet in a report on Monday, December 23rd. DA Davidson upped their price objective on shares of Alphabet from $190.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday, January 24th. Needham & Company LLC increased their price target on Alphabet from $210.00 to $225.00 and gave the company a "buy" rating in a research note on Monday. Finally, Pivotal Research raised their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Nine research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and an average target price of $209.82.

Insiders Place Their Bets

In related news, Director Frances Arnold sold 441 shares of the firm's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now owns 16,490 shares of the company's stock, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amie Thuener O'toole sold 2,834 shares of Alphabet stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $194.32, for a total transaction of $550,702.88. Following the completion of the sale, the chief accounting officer now directly owns 17,847 shares in the company, valued at approximately $3,468,029.04. The trade was a 13.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 122,887 shares of company stock valued at $22,470,464 over the last quarter. 11.55% of the stock is owned by insiders.

Alphabet Price Performance

Shares of Alphabet stock traded up $4.38 during trading hours on Thursday, reaching $199.79. The stock had a trading volume of 9,551,657 shares, compared to its average volume of 23,832,391. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a twelve month low of $130.66 and a twelve month high of $202.29. The stock's 50 day moving average is $187.53 and its 200 day moving average is $173.84. The firm has a market capitalization of $2.45 trillion, a PE ratio of 26.49, a PEG ratio of 1.27 and a beta of 0.98.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released 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 business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period last year, the company posted $1.55 EPS. Equities analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

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.