Atlas Private Wealth Advisors Sells 918 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Atlas Private Wealth Advisors lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 10.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,154 shares of the information services provider’s stock after selling 918 shares during the quarter. Atlas Private Wealth Advisors’ holdings in Alphabet were worth $1,544,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. LMR Partners LLP bought a new position in Alphabet in the third quarter worth $32,000. Denver PWM LLC raised its holdings in Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after purchasing an additional 57 shares in the last quarter. Quarry LP purchased a new stake in shares of Alphabet in the second quarter worth $53,000. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Alphabet in the third quarter worth $66,000. Finally, Mendota Financial Group LLC grew its stake in shares of Alphabet by 19.0% in the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock worth $67,000 after acquiring an additional 64 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 2.8 %

Shares of GOOGL opened at $200.87 on Friday. The business’s 50 day moving average is $187.53 and its 200 day moving average is $173.84. The company has a market capitalization of $2.46 trillion, a PE ratio of 26.64, a price-to-earnings-growth ratio of 1.27 and a beta of 0.98. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $202.29. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter last year, the company earned $1.55 EPS. Research analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total value of $3,990,600.00. Following the sale, the chief executive officer now owns 2,084,306 shares of the company’s stock, valued at $369,672,512.16. The trade was a 1.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction that occurred 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 sale, the director now directly owns 16,490 shares in the company, valued at approximately $2,820,779.40. The trade was a 2.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 121,630 shares of company stock valued at $22,258,133. 11.55% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of recent research reports. Royal Bank of Canada increased their target price on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. KeyCorp increased their target price on Alphabet from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, January 10th. BMO Capital Markets reissued an “outperform” rating and issued a $217.00 target price (up from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Wolfe Research increased their target price on Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, Needham & Company LLC increased their price objective on Alphabet from $210.00 to $225.00 and gave the company a “buy” rating in a research report on Monday. Nine research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $209.82.

Read Our Latest Report on Alphabet

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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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