Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Wells Trecaso Financial Group LLC

Wells Trecaso Financial Group LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,542 shares of the information services provider’s stock after selling 550 shares during the period. Alphabet accounts for 4.4% of Wells Trecaso Financial Group LLC’s holdings, making the stock its 5th largest position. Wells Trecaso Financial Group LLC’s holdings in Alphabet were worth $13,354,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Schear Investment Advisers LLC increased its stake in Alphabet by 17.0% in the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after acquiring an additional 4,905 shares during the last quarter. Trinity Financial Advisors LLC grew its stake in shares of Alphabet by 4.5% during the third quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $771,000 after buying an additional 190 shares during the last quarter. Landscape Capital Management L.L.C. grew its stake in shares of Alphabet by 27.9% during the third quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock worth $4,192,000 after buying an additional 5,516 shares during the last quarter. abrdn plc grew its stake in shares of Alphabet by 10.7% during the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock worth $1,037,196,000 after buying an additional 611,233 shares during the last quarter. Finally, StoneCrest Wealth Management Inc. grew its stake in shares of Alphabet by 0.7% during the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock worth $3,567,000 after buying an additional 140 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on GOOGL. Roth Mkm boosted their target price on shares of Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. BMO Capital Markets reaffirmed an “outperform” rating and set a $217.00 target price (up previously from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Needham & Company LLC boosted their target price on shares of Alphabet from $210.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Nine 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 company’s stock. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $209.82.

Alphabet Trading Up 0.1 %

Shares of GOOGL stock opened at $195.41 on Thursday. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $202.29. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company has a 50-day simple moving average of $187.14 and a two-hundred day simple moving average of $173.69. The company has a market capitalization of $2.39 trillion, a price-to-earnings ratio of 25.92, a PEG ratio of 1.27 and a beta of 0.98.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the prior year, the firm posted $1.55 EPS. Research analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 17,847 shares of the company’s stock, valued at $3,468,029.04. This represents a 13.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frances Arnold sold 441 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now directly owns 16,490 shares of the company’s stock, valued at $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. In the last ninety days, insiders sold 122,887 shares of company stock valued at $22,470,464. Corporate insiders own 11.55% of the company’s stock.

About Alphabet

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.