Bourne Lent Asset Management Inc. Has $20.73 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Bourne Lent Asset Management Inc. decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109,510 shares of the information services provider’s stock after selling 2,785 shares during the period. Alphabet comprises approximately 7.9% of Bourne Lent Asset Management Inc.’s holdings, making the stock its 5th largest position. Bourne Lent Asset Management Inc.’s holdings in Alphabet were worth $20,730,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Conrad Siegel Investment Advisors Inc. raised its position in shares of Alphabet by 0.5% during the 4th quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock valued at $1,864,000 after buying an additional 53 shares in the last quarter. Denver PWM LLC raised its position in Alphabet by 25.4% in the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after purchasing an additional 57 shares during the period. Ignite Planners LLC raised its position in Alphabet by 0.4% in the 4th quarter. Ignite Planners LLC now owns 15,078 shares of the information services provider’s stock worth $2,892,000 after purchasing an additional 57 shares during the period. Fermata Advisors LLC raised its position in Alphabet by 0.8% in the 4th quarter. Fermata Advisors LLC now owns 7,433 shares of the information services provider’s stock worth $1,407,000 after purchasing an additional 57 shares during the period. Finally, Winch Advisory Services LLC raised its position in Alphabet by 1.3% in the 4th quarter. Winch Advisory Services LLC now owns 4,386 shares of the information services provider’s stock worth $830,000 after purchasing an additional 58 shares during the period. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the transaction, the insider now owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $180.78, for a total transaction of $1,898,190.00. Following the completion of the sale, the director now owns 330,466 shares in the company, valued at approximately $59,741,643.48. This trade represents a 3.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 133,387 shares of company stock valued at $24,368,654. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on GOOGL shares. Wedbush increased their price objective on shares of Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Pivotal Research increased their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Scotiabank raised shares of Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Royal Bank of Canada raised their target price on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Nine investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $209.44.

Alphabet Trading Up 1.1 %

Shares of Alphabet stock opened at $200.21 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The firm has a fifty day moving average price of $186.46 and a 200 day moving average price of $173.69. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $202.29. The stock has a market cap of $2.45 trillion, a PE ratio of 26.55, a price-to-earnings-growth ratio of 1.27 and a beta of 0.98.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter last year, the company posted $1.55 earnings per share. Equities research analysts predict 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.