Steel Grove Capital Advisors LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 18.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 133,149 shares of the information services provider's stock after selling 30,006 shares during the quarter. Alphabet comprises about 2.5% of Steel Grove Capital Advisors LLC's holdings, making the stock its 5th largest position. Steel Grove Capital Advisors LLC's holdings in Alphabet were worth $18,600,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Bornite Capital Management LP bought a new stake in Alphabet during the first quarter worth about $16,688,000. Markel Corp lifted its stake in shares of Alphabet by 17.0% in the 1st quarter. Markel Corp now owns 15,500 shares of the information services provider's stock valued at $43,110,000 after acquiring an additional 2,250 shares during the last quarter. United Bank lifted its stake in shares of Alphabet by 5.9% in the 1st quarter. United Bank now owns 2,033 shares of the information services provider's stock valued at $5,654,000 after acquiring an additional 113 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Alphabet by 23.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider's stock valued at $900,929,000 after purchasing an additional 61,427 shares during the last quarter. Finally, Dakota Wealth Management raised its position in Alphabet by 20.4% during the 1st quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider's stock valued at $25,806,000 after purchasing an additional 1,570 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet Trading Up 0.0 %
NASDAQ GOOGL traded up $0.06 on Friday, reaching $150.93. 24,485,390 shares of the company were exchanged, compared to its average volume of 33,635,780. The business's fifty day moving average price is $143.76 and its 200 day moving average price is $138.33. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a fifty-two week low of $99.78 and a fifty-two week high of $153.78. The stock has a market capitalization of $1.88 trillion, a P/E ratio of 26.02, a price-to-earnings-growth ratio of 1.39 and a beta of 1.04.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating analysts' consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $70.77 billion. During the same quarter in the prior year, the business posted $1.05 EPS. Analysts forecast that Alphabet Inc. will post 6.77 earnings per share for the current year.
Analyst Ratings Changes
Several research firms recently weighed in on GOOGL. Royal Bank of Canada restated an "outperform" rating and issued a $155.00 price target on shares of Alphabet in a research note on Wednesday, January 31st. Rosenblatt Securities reduced their target price on shares of Alphabet from $174.00 to $172.00 and set a "buy" rating for the company in a report on Wednesday, January 31st. Wells Fargo & Company increased their price objective on shares of Alphabet from $141.00 to $144.00 and gave the company an "equal weight" rating in a report on Monday, March 18th. Wolfe Research increased their target price on Alphabet from $170.00 to $180.00 and gave the company an "outperform" rating in a research report on Wednesday, January 31st. Finally, Citigroup increased their target price on Alphabet from $153.00 to $168.00 and gave the company a "buy" rating in a research report on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and a consensus price target of $155.48.
Check Out Our Latest Report on Alphabet
Insider Buying and Selling
In other Alphabet news, insider John Kent Walker sold 12,084 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $151.19, for a total transaction of $1,826,979.96. Following the completion of the sale, the insider now directly owns 48,717 shares of the company's stock, valued at approximately $7,365,523.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $148.78, for a total transaction of $3,347,550.00. Following the completion of the transaction, the chief executive officer now directly owns 2,310,191 shares of the company's stock, valued at $343,710,216.98. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 12,084 shares of Alphabet stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $151.19, for a total value of $1,826,979.96. Following the transaction, the insider now directly owns 48,717 shares of the company's stock, valued at $7,365,523.23. The disclosure for this sale can be found here. Insiders have sold 263,312 shares of company stock worth $37,268,315 in the last quarter. 0.88% of the stock is owned by insiders.
Alphabet Profile
(
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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