Successful Portfolios LLC Cuts Stake in Alphabet Inc. (NASDAQ:GOOG)

Successful Portfolios LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,311 shares of the information services provider’s stock after selling 187 shares during the period. Alphabet makes up approximately 1.2% of Successful Portfolios LLC’s portfolio, making the stock its 18th largest position. Successful Portfolios LLC’s holdings in Alphabet were worth $1,594,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Tandem Wealth Advisors LLC acquired a new position in Alphabet during the 3rd quarter worth approximately $25,000. Bruce G. Allen Investments LLC acquired a new position in shares of Alphabet during the fourth quarter worth $26,000. HWG Holdings LP acquired a new position in shares of Alphabet during the second quarter worth $26,000. Intrepid Capital Management Inc. purchased a new position in Alphabet in the second quarter valued at $31,000. Finally, Buck Wealth Strategies LLC acquired a new stake in Alphabet in the third quarter valued at $32,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on GOOG shares. Raymond James upped their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Susquehanna boosted their price objective 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 research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $146.33.

Insider Buying and Selling at Alphabet

In related news, SVP Prabhakar Raghavan sold 16,088 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now owns 52,440 shares of the company’s stock, valued at $7,294,404. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Alphabet news, SVP Prabhakar Raghavan sold 16,088 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 52,440 shares of the company’s stock, valued at approximately $7,294,404. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 230 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the sale, the director now directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 251,138 shares of company stock worth $35,427,655. 12.99% of the stock is owned by company insiders.

Alphabet Trading Up 0.2 %

GOOG opened at $152.26 on Friday. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 52 week low of $100.29 and a 52 week high of $155.20. The business’s 50 day moving average is $144.75 and its two-hundred day moving average is $139.39. The firm has a market cap of $1.89 trillion, a price-to-earnings ratio of 26.25, a price-to-earnings-growth ratio of 1.40 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.05 EPS. On average, research analysts predict that Alphabet Inc. will post 6.77 EPS for the current year.

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.