Zweig DiMenna Associates LLC Sells 14,700 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Zweig DiMenna Associates LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 18.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 67,000 shares of the information services provider’s stock after selling 14,700 shares during the period. Zweig DiMenna Associates LLC’s holdings in Alphabet were worth $12,683,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of GOOGL. International Assets Investment Management LLC raised its position in Alphabet by 43,005.6% during the 3rd quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock worth $31,086,250,000 after purchasing an additional 18,700,111 shares during the last quarter. SG Americas Securities LLC raised its position in Alphabet by 587.4% during the 3rd quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock worth $1,772,991,000 after purchasing an additional 9,135,056 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Alphabet by 116.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock worth $1,437,957,000 after purchasing an additional 4,662,809 shares during the last quarter. JPMorgan Chase & Co. raised its position in Alphabet by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after purchasing an additional 4,567,275 shares during the last quarter. Finally, Clearbridge Investments LLC raised its position in Alphabet by 115.4% during the 2nd quarter. Clearbridge Investments LLC now owns 6,939,456 shares of the information services provider’s stock worth $1,264,022,000 after purchasing an additional 3,718,420 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GOOGL. Wolfe Research raised their target price on Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Phillip Securities raised Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Wedbush lifted their price objective on Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Finally, Scotiabank upgraded Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Nine analysts have rated the stock with a hold rating, thirty have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.82.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $189.80, for a total transaction of $284,700.00. Following the sale, the director now owns 21,824 shares of the company’s stock, valued at $4,142,195.20. The trade was a 6.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $171.42, for a total transaction of $234,331.14. Following the completion of the transaction, the chief accounting officer now directly owns 26,349 shares in the company, valued at approximately $4,516,745.58. The trade was a 4.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 122,887 shares of company stock valued at $22,470,464 in the last 90 days. 11.55% of the stock is currently owned by company insiders.

Alphabet Trading Up 0.1 %

NASDAQ:GOOGL opened at $195.41 on Thursday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.39 trillion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 1.27 and a beta of 0.98. The firm’s 50 day moving average is $187.14 and its 200 day moving average is $173.69. Alphabet Inc. has a 12 month low of $130.66 and a 12 month high of $202.29.

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, beating 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 for the quarter, compared to analysts’ expectations of $72.85 billion. During the same quarter in the previous year, the firm posted $1.55 EPS. Sell-side analysts expect 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.