Nelson Capital Management LLC Cuts Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Nelson Capital Management LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,864 shares of the information services provider’s stock after selling 100 shares during the quarter. Nelson Capital Management LLC’s holdings in Alphabet were worth $819,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Spreng Capital Management Inc. grew its stake 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 worth $364,000 after acquiring an additional 5 shares during the last quarter. West Family Investments Inc. grew 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 worth $4,878,000 after acquiring an additional 6 shares during the last quarter. Maple Capital Management Inc. grew its stake in shares of Alphabet by 2.1% in 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 last quarter. Private Advisory Group LLC grew its stake in shares of 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 during the last quarter. Finally, Weik Capital Management grew its stake in shares of Alphabet by 0.5% in the first quarter. Weik Capital Management now owns 1,533 shares of the information services provider’s stock worth $4,264,000 after acquiring an additional 8 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the transaction, the chief executive officer now owns 2,303,011 shares in the company, valued at approximately $362,516,961.51. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the transaction, the chief executive officer now owns 2,303,011 shares in the company, valued at approximately $362,516,961.51. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the transaction, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. Insiders sold 251,339 shares of company stock worth $36,377,482 in the last quarter. 0.88% of the stock is owned by corporate insiders.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $155.47 on Thursday. The stock has a market capitalization of $1.93 trillion, a P/E ratio of 26.81, a P/E/G ratio of 1.43 and a beta of 1.05. The stock has a 50-day moving average price of $145.95 and a 200 day moving average price of $140.29. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12-month low of $102.63 and a 12-month high of $160.22.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. The business had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same quarter last year, the business posted $1.05 EPS. Equities research analysts forecast that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GOOGL. Wolfe Research increased their target price on Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Rosenblatt Securities dropped their price objective on Alphabet from $174.00 to $172.00 and set a “buy” rating on the stock in a research report on Wednesday, January 31st. Truist Financial increased their price objective on Alphabet from $158.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday. KeyCorp increased their price objective on Alphabet from $153.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, January 29th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $185.00 price objective (up from $178.00) on shares of Alphabet in a research report on Wednesday, April 10th. Five research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.00.

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.