Acorn Financial Advisory Services Inc. ADV Sells 16,208 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Acorn Financial Advisory Services Inc. ADV lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 49.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,854 shares of the information services provider’s stock after selling 16,208 shares during the quarter. Acorn Financial Advisory Services Inc. ADV’s holdings in Alphabet were worth $2,353,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. DE Burlo Group Inc. lifted its stake in Alphabet by 520.0% in the 2nd quarter. DE Burlo Group Inc. now owns 96,498 shares of the information services provider’s stock worth $11,551,000 after purchasing an additional 80,934 shares in the last quarter. West Tower Group LLC bought a new stake in shares of Alphabet in the second quarter worth about $88,000. Ballast Advisors LLC lifted its position in shares of Alphabet by 9.6% in the third quarter. Ballast Advisors LLC now owns 15,747 shares of the information services provider’s stock worth $2,061,000 after buying an additional 1,385 shares in the last quarter. Quantum Financial Advisors LLC boosted its stake in Alphabet by 8.0% during the third quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock valued at $998,000 after buying an additional 564 shares during the last quarter. Finally, Acadian Asset Management LLC grew its holdings in Alphabet by 2.4% during the 3rd quarter. Acadian Asset Management LLC now owns 4,416,533 shares of the information services provider’s stock valued at $577,908,000 after buying an additional 104,366 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 0.1 %

Shares of NASDAQ GOOGL opened at $150.87 on Thursday. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The business has a fifty day simple moving average of $143.33 and a two-hundred day simple moving average of $138.03. The firm has a market cap of $1.88 trillion, a PE ratio of 26.01, a price-to-earnings-growth ratio of 1.39 and a beta of 1.04. Alphabet Inc. has a twelve month low of $99.74 and a twelve month high of $153.78.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $86.31 billion during the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same period in the previous year, the company posted $1.05 EPS. Analysts expect that Alphabet Inc. will post 6.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on GOOGL shares. Wedbush raised their price target on Alphabet from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, March 22nd. Wolfe Research raised their price target on Alphabet from $170.00 to $180.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Rosenblatt Securities cut their price target on Alphabet from $174.00 to $172.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. KeyCorp raised their price target on Alphabet from $153.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, January 29th. Finally, Susquehanna raised their price target on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $155.48.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $148.78, for a total value of $3,347,550.00. Following the completion of the transaction, the chief executive officer now directly owns 2,310,191 shares of the company’s stock, valued at approximately $343,710,216.98. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $148.78, for a total value of $3,347,550.00. Following the completion of the transaction, the chief executive officer now directly owns 2,310,191 shares of the company’s stock, valued at approximately $343,710,216.98. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Frances Arnold sold 240 shares of the business’s stock in a transaction on Friday, December 29th. The stock was sold at an average price of $140.51, for a total value of $33,722.40. Following the completion of the transaction, the director now directly owns 14,815 shares of the company’s stock, valued at $2,081,655.65. The disclosure for this sale can be found here. In the last three months, insiders sold 251,378 shares of company stock valued at $35,461,377. Corporate insiders own 0.88% of the company’s stock.

About Alphabet

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.