Financial Partners Group LLC decreased its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,759 shares of the information services provider's stock after selling 3,540 shares during the quarter. Alphabet accounts for 6.1% of Financial Partners Group LLC's portfolio, making the stock its largest position. Financial Partners Group LLC's holdings in Alphabet were worth $14,720,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. LMR Partners LLP purchased a new stake in Alphabet during the 3rd quarter valued at about $32,000. Denver PWM LLC lifted its position in Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider's stock valued at $47,000 after purchasing an additional 57 shares during the last quarter. Quarry LP purchased a new stake in shares of Alphabet during the second quarter valued at approximately $53,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Alphabet in the third quarter worth approximately $66,000. Finally, Mendota Financial Group LLC increased its stake in shares of Alphabet by 19.0% in the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider's stock worth $67,000 after buying an additional 64 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have weighed in on the stock. Wells Fargo & Company increased their price target on shares of Alphabet from $187.00 to $190.00 and gave the company an "equal weight" rating in a research report on Monday, January 13th. Needham & Company LLC raised their target price on Alphabet from $210.00 to $225.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Wedbush boosted their price target on Alphabet from $210.00 to $220.00 and gave the company an "outperform" rating in a report on Monday, January 6th. Bank of America reiterated a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a report on Monday, December 23rd. Finally, The Goldman Sachs Group reissued a "buy" rating and set a $210.00 target price on shares of Alphabet in a research note on Thursday, December 12th. Nine equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $211.00.
View Our Latest Report on Alphabet
Insider Activity
In other news, CAO Amie Thuener O'toole sold 2,834 shares of the business's stock in a transaction on 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 owns 17,847 shares of the company's stock, valued at $3,468,029.04. The trade was a 13.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frances Arnold sold 441 shares of the firm's stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the transaction, the director now directly owns 16,490 shares in the company, valued at approximately $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 121,630 shares of company stock valued at $22,258,133 in the last ninety days. 11.55% of the stock is currently owned by company insiders.
Alphabet Stock Performance
GOOGL stock traded up $3.15 on Friday, hitting $204.02. The company had a trading volume of 31,998,798 shares, compared to its average volume of 22,198,940. 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 12-month low of $130.66 and a 12-month high of $205.48. The stock has a market cap of $2.50 trillion, a price-to-earnings ratio of 27.06, a P/E/G ratio of 1.26 and a beta of 0.98. The stock's 50-day simple moving average is $188.97 and its 200 day simple moving average is $174.08.
About Alphabet
(
Free Report)
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.
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