Sage Investment Advisers LLC Lowers Position in Alphabet Inc. (NASDAQ:GOOGL)

Sage Investment Advisers LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.8% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 4,725 shares of the information services provider’s stock after selling 135 shares during the period. Sage Investment Advisers LLC’s holdings in Alphabet were worth $566,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Spreng Capital Management Inc. increased its holdings in shares of Alphabet by 4.0% in the first quarter. Spreng Capital Management Inc. now owns 131 shares of the information services provider’s stock valued at $364,000 after purchasing an additional 5 shares during the period. West Family Investments Inc. boosted its stake in shares of Alphabet by 0.3% in the first quarter. West Family Investments Inc. now owns 1,754 shares of the information services provider’s stock valued at $4,878,000 after buying an additional 6 shares in the last quarter. Maple Capital Management Inc. grew its holdings in Alphabet by 2.1% during the first quarter. Maple Capital Management Inc. now owns 296 shares of the information services provider’s stock worth $823,000 after acquiring an additional 6 shares during the period. Private Advisory Group LLC raised its position in Alphabet by 1.8% in the first quarter. Private Advisory Group LLC now owns 401 shares of the information services provider’s stock worth $1,115,000 after acquiring an additional 7 shares in the last quarter. Finally, Weik Capital Management lifted its holdings in Alphabet by 0.5% in the first quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock valued at $4,264,000 after acquiring an additional 8 shares during the period. Institutional investors and hedge funds own 35.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on GOOGL shares. Bank of America increased their price target on shares of Alphabet from $142.00 to $146.00 and gave the company a “buy” rating in a report on Wednesday, October 4th. Piper Sandler raised their price objective on Alphabet from $147.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, October 25th. Wells Fargo & Company boosted their target price on Alphabet from $126.00 to $129.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 16th. JMP Securities lifted their price target on Alphabet from $138.00 to $140.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 25th. Finally, KeyCorp dropped their target price on shares of Alphabet from $155.00 to $153.00 and set an “overweight” rating for the company in a report on Wednesday, October 25th. Five equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $132.92, for a total transaction of $26,584.00. Following the completion of the sale, the director now directly owns 7,184 shares in the company, valued at $954,897.28. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Alphabet news, Director Frances Arnold sold 250 shares of the firm’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $124.36, for a total value of $31,090.00. Following the transaction, the director now directly owns 14,226 shares of the company’s stock, valued at $1,769,145.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $132.92, for a total value of $26,584.00. Following the completion of the sale, the director now directly owns 7,184 shares of the company’s stock, valued at approximately $954,897.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 176,576 shares of company stock worth $23,425,367. Company insiders own 0.88% of the company’s stock.

Alphabet Trading Up 0.7 %

Shares of GOOGL opened at $136.25 on Tuesday. Alphabet Inc. has a twelve month low of $84.86 and a twelve month high of $141.22. The firm has a market capitalization of $1.71 trillion, a P/E ratio of 26.15, a price-to-earnings-growth ratio of 1.51 and a beta of 1.05. The company has a current ratio of 2.04, a quick ratio of 2.01 and a debt-to-equity ratio of 0.05. The stock’s fifty day simple moving average is $133.42 and its 200 day simple moving average is $127.88.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, October 24th. The information services provider reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.10. Alphabet had a return on equity of 25.24% and a net margin of 22.46%. The company had revenue of $64.05 billion for the quarter, compared to the consensus estimate of $63.13 billion. On average, equities research analysts forecast that Alphabet Inc. will post 5.74 earnings per share for the current 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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.