Graham Capital Wealth Management LLC Decreases Position in Alphabet Inc. (NASDAQ:GOOGL)

Graham Capital Wealth Management LLC decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,083 shares of the information services provider’s stock after selling 222 shares during the period. Alphabet accounts for 4.1% of Graham Capital Wealth Management LLC’s portfolio, making the stock its 8th largest position. Graham Capital Wealth Management LLC’s holdings in Alphabet were worth $1,548,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Genesee Capital Advisors LLC lifted its stake in Alphabet by 20.4% in the fourth quarter. Genesee Capital Advisors LLC now owns 4,206 shares of the information services provider’s stock valued at $588,000 after buying an additional 712 shares during the period. Cassia Capital Partners LLC lifted its stake in Alphabet by 5.8% in the fourth quarter. Cassia Capital Partners LLC now owns 3,801 shares of the information services provider’s stock valued at $531,000 after buying an additional 210 shares during the period. Braun Bostich & Associates Inc. lifted its stake in Alphabet by 36.1% in the fourth quarter. Braun Bostich & Associates Inc. now owns 4,805 shares of the information services provider’s stock valued at $671,000 after buying an additional 1,274 shares during the period. Perigon Wealth Management LLC lifted its stake in Alphabet by 73.8% in the fourth quarter. Perigon Wealth Management LLC now owns 309,816 shares of the information services provider’s stock valued at $43,278,000 after buying an additional 131,529 shares during the period. Finally, Mosaic Family Wealth Partners LLC lifted its stake in Alphabet by 31.3% in the fourth quarter. Mosaic Family Wealth Partners LLC now owns 6,838 shares of the information services provider’s stock valued at $955,000 after buying an additional 1,629 shares during the period. Institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Truist Financial increased their target price on Alphabet from $158.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday. Susquehanna increased their target price on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Wedbush reaffirmed an “outperform” rating and set a $175.00 price target on shares of Alphabet in a research report on Wednesday, April 10th. Jefferies Financial Group raised their price target on Alphabet from $175.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $155.00 price target on shares of Alphabet in a research report on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $158.41.

Alphabet Stock Down 1.2 %

GOOGL stock opened at $154.09 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 twelve month low of $102.63 and a twelve month high of $160.22. The business has a 50 day moving average price of $146.26 and a two-hundred day moving average price of $140.54. The company has a market cap of $1.92 trillion, a price-to-earnings ratio of 26.57, a P/E/G ratio of 1.43 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $70.77 billion. During the same period in the previous year, the company posted $1.05 EPS. Analysts anticipate that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction that occurred 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 transaction, the director now owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The disclosure for this sale can be found here. In the last three months, insiders sold 251,339 shares of company stock worth $36,377,482. 0.88% of the stock is owned by company insiders.

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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.