Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Gray Wealth Management Inc.

Gray Wealth Management Inc. lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,130 shares of the information services provider’s stock after selling 535 shares during the quarter. Alphabet comprises about 1.3% of Gray Wealth Management Inc.’s holdings, making the stock its 18th largest position. Gray Wealth Management Inc.’s holdings in Alphabet were worth $2,672,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. RWQ Financial Management Services Inc. increased its position in Alphabet by 8.2% during the 4th quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock worth $8,591,000 after purchasing an additional 4,664 shares in the last quarter. Ballast Advisors LLC boosted its holdings in Alphabet by 9.6% in the 3rd quarter. Ballast Advisors LLC now owns 15,747 shares of the information services provider’s stock worth $2,061,000 after acquiring an additional 1,385 shares during the period. Quantum Financial Advisors LLC boosted its holdings in Alphabet by 8.0% in the 3rd quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock worth $998,000 after acquiring an additional 564 shares during the period. Acadian Asset Management LLC boosted its holdings in Alphabet by 2.4% in the 3rd quarter. Acadian Asset Management LLC now owns 4,416,533 shares of the information services provider’s stock worth $577,908,000 after acquiring an additional 104,366 shares during the period. Finally, NatWest Group plc boosted its holdings in Alphabet by 239.0% in the 4th quarter. NatWest Group plc now owns 100,793 shares of the information services provider’s stock worth $14,080,000 after acquiring an additional 71,057 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Up 10.2 %

GOOGL stock opened at $171.95 on Friday. The firm has a market cap of $2.14 trillion, a PE ratio of 29.65, a PEG ratio of 1.47 and a beta of 1.05. Alphabet Inc. has a 1 year low of $103.54 and a 1 year high of $174.71. The company has a fifty day simple moving average of $147.85 and a 200 day simple moving average of $141.39. 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 (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same quarter in the prior year, the company posted $1.05 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Insider Buying and Selling at Alphabet

In related news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction on Tuesday, January 30th. The shares were 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 in the company, valued at approximately $2,326,922.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the transaction, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frances Arnold sold 230 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of 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. Insiders have sold a total of 253,439 shares of company stock worth $36,746,578 over the last 90 days. Insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on GOOGL. UBS Group upped their price target on Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Redburn Atlantic upped their price target on Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Canaccord Genuity Group increased their target price on Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Friday. Citigroup increased their target price on Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a research note on Friday. Finally, Jefferies Financial Group increased their target price on Alphabet from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Friday. Five investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $187.82.

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.