Acorn Financial Advisory Services Inc. ADV Trims Position in Alphabet Inc. (NASDAQ:GOOGL)

Acorn Financial Advisory Services Inc. ADV lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 49.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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.

A number of other hedge funds also recently bought and sold shares of the company. Johnson & White Wealth Management LLC increased its position in Alphabet by 20.5% during the fourth quarter. Johnson & White Wealth Management LLC now owns 2,942 shares of the information services provider’s stock valued at $411,000 after acquiring an additional 500 shares during the last quarter. Fiduciary Alliance LLC lifted its position in shares of Alphabet by 8.6% during the 4th quarter. Fiduciary Alliance LLC now owns 37,782 shares of the information services provider’s stock valued at $5,278,000 after buying an additional 2,988 shares in the last quarter. Powers Advisory Group LLC grew its stake in shares of Alphabet by 4.2% during the 4th quarter. Powers Advisory Group LLC now owns 3,622 shares of the information services provider’s stock valued at $506,000 after acquiring an additional 146 shares during the period. Blackston Financial Advisory Group LLC bought a new stake in Alphabet during the 4th quarter worth approximately $200,000. Finally, Anderson Hoagland & Co. raised its stake in Alphabet by 21.1% during the 4th quarter. Anderson Hoagland & Co. now owns 31,065 shares of the information services provider’s stock worth $4,426,000 after acquiring an additional 5,421 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $150.87 on Thursday. The stock has a market cap of $1.88 trillion, a price-to-earnings ratio of 26.01, a price-to-earnings-growth ratio of 1.39 and a beta of 1.04. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The stock has a 50 day moving average price of $143.33 and a 200-day moving average price of $138.03. Alphabet Inc. has a one year low of $99.74 and a one year high of $153.78.

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

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of analyst reports. Citigroup increased their price objective on shares of Alphabet from $153.00 to $168.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $155.00 target price on shares of Alphabet in a research report on Wednesday, January 31st. Mizuho upped their price target on Alphabet from $155.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Wells Fargo & Company increased their price objective on shares of Alphabet from $141.00 to $144.00 and gave the company an “equal weight” rating in a report on Monday, March 18th. Finally, Susquehanna upped their target price on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.48.

Insider Activity at Alphabet

In related news, SVP Prabhakar Raghavan sold 16,088 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $139.10, for a total transaction of $2,237,840.80. Following the completion of the transaction, the senior vice president now owns 52,440 shares in the company, valued at approximately $7,294,404. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $148.78, for a total transaction of $3,347,550.00. Following the completion of the sale, the chief executive officer now directly owns 2,310,191 shares of the company’s stock, valued at approximately $343,710,216.98. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 16,088 shares of Alphabet stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $139.10, for a total value of $2,237,840.80. Following the sale, the senior vice president now directly owns 52,440 shares of the company’s stock, valued at $7,294,404. The disclosure for this sale can be found here. Insiders sold a total of 251,378 shares of company stock worth $35,461,377 in the last quarter. 0.88% of the stock is owned by company insiders.

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.