Conway Capital Management Inc. Has $4.89 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Conway Capital Management Inc. decreased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 25,815 shares of the information services provider’s stock after selling 390 shares during the quarter. Alphabet accounts for about 2.2% of Conway Capital Management Inc.’s investment portfolio, making the stock its 12th largest holding. Conway Capital Management Inc.’s holdings in Alphabet were worth $4,887,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Schear Investment Advisers LLC boosted its position in Alphabet by 17.0% during the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock worth $5,598,000 after acquiring an additional 4,905 shares during the period. Trinity Financial Advisors LLC boosted its position in Alphabet by 4.5% during the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $771,000 after acquiring an additional 190 shares during the period. Landscape Capital Management L.L.C. boosted its position in Alphabet by 27.9% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock worth $4,192,000 after acquiring an additional 5,516 shares during the period. abrdn plc boosted its position in Alphabet by 10.7% during the 3rd quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock worth $1,037,196,000 after acquiring an additional 611,233 shares during the period. Finally, StoneCrest Wealth Management Inc. boosted its position in Alphabet by 0.7% during the 3rd quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock worth $3,567,000 after acquiring an additional 140 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of research reports. Sanford C. Bernstein raised their price objective on Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Pivotal Research raised their price target on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Morgan Stanley raised their price target on Alphabet from $205.00 to $215.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Finally, Evercore ISI raised their price target on Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating, thirty have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.82.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $171.42, for a total value of $234,331.14. Following the transaction, the chief accounting officer now owns 26,349 shares of the company’s stock, valued at approximately $4,516,745.58. The trade was a 4.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 441 shares of the business’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 position. The disclosure for this sale can be found here. Insiders have sold a total of 122,887 shares of company stock valued at $22,470,464 in the last 90 days. 11.55% of the stock is owned by corporate insiders.

Alphabet Price Performance

Shares of GOOGL stock opened at $195.41 on Thursday. The stock’s fifty day simple moving average is $187.14 and its 200 day simple moving average is $173.69. 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 market cap of $2.39 trillion, a price-to-earnings ratio of 25.92, a P/E/G ratio of 1.27 and a beta of 0.98. Alphabet Inc. has a one year low of $130.66 and a one year high of $202.29.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the previous year, the firm earned $1.55 EPS. On average, 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.