Inlet Private Wealth LLC Has $4.20 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Inlet Private Wealth LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,333 shares of the information services provider’s stock after selling 320 shares during the period. Inlet Private Wealth LLC’s holdings in Alphabet were worth $4,202,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Christopher J. Hasenberg Inc raised its holdings in shares of Alphabet by 75.0% during the second quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock valued at $26,000 after acquiring an additional 60 shares during the period. Kings Path Partners LLC purchased a new position in Alphabet during the 2nd quarter worth approximately $36,000. Tributary Capital Management LLC purchased a new position in Alphabet during the 1st quarter worth approximately $30,000. Denver PWM LLC acquired a new stake in Alphabet during the 2nd quarter valued at $41,000. Finally, Quarry LP purchased a new stake in shares of Alphabet in the second quarter valued at $53,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Jefferies Financial Group lifted their price target on Alphabet from $215.00 to $220.00 in a report on Tuesday, July 9th. UBS Group lifted their target price on Alphabet from $200.00 to $204.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Wedbush reissued an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a research report on Thursday. Roth Mkm reaffirmed a “buy” rating and set a $206.00 price objective on shares of Alphabet in a research report on Thursday, August 29th. Finally, Bank of America upped their price objective on shares of Alphabet from $200.00 to $206.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Seven equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $201.76.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the completion of the transaction, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the sale, the chief executive officer now owns 2,182,385 shares of the company’s stock, valued at approximately $354,310,204.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at $5,264,112. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 220,426 shares of company stock worth $35,993,340 in the last ninety days. Insiders own 11.55% of the company’s stock.

Alphabet Trading Up 1.6 %

Shares of GOOGL stock opened at $165.27 on Friday. The firm has a market capitalization of $2.03 trillion, a P/E ratio of 23.71, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75. The firm’s fifty day simple moving average is $161.95 and its 200 day simple moving average is $168.51. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04.

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.