CGN Advisors LLC Cuts Position in Alphabet Inc. (NASDAQ:GOOG)

CGN Advisors LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 13.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,769 shares of the information services provider’s stock after selling 611 shares during the period. CGN Advisors LLC’s holdings in Alphabet were worth $334,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. DC Investments Management LLC purchased a new stake in shares of Alphabet during the first quarter worth approximately $115,000. Guardian Wealth Management Inc. purchased a new stake in shares of Alphabet during the first quarter worth approximately $184,000. Turim 21 Investimentos Ltda. increased its stake in shares of Alphabet by 10.8% during the first quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after buying an additional 8 shares during the period. qPULA Trading Management LP purchased a new stake in shares of Alphabet during the first quarter worth approximately $279,000. Finally, Global Assets Advisory LLC acquired a new position in Alphabet in the second quarter valued at approximately $241,000. 28.69% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GOOG. Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a report on Friday, February 3rd. Jefferies Financial Group set a $125.00 price target on Alphabet in a report on Friday, February 3rd. Piper Sandler lowered their price target on Alphabet from $122.00 to $120.00 and set an “overweight” rating for the company in a report on Friday, February 3rd. Bank of America upped their price target on Alphabet from $116.00 to $119.00 and gave the company a “buy” rating in a report on Tuesday, January 31st. Finally, Royal Bank of Canada set a $130.00 price target on Alphabet in a report on Friday, February 3rd. One investment analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $135.11.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $102.46 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34. The stock has a fifty day moving average price of $95.69 and a 200 day moving average price of $96.73. Alphabet Inc. has a 1-year low of $83.45 and a 1-year high of $144.16. The company has a market cap of $1.31 trillion, a PE ratio of 22.51, a P/E/G ratio of 1.33 and a beta of 1.09.

Alphabet (NASDAQ:GOOG – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.09). Alphabet had a return on equity of 23.54% and a net margin of 21.20%. The company had revenue of $76.05 billion for the quarter, compared to analyst estimates of $76.49 billion. During the same period in the prior year, the business earned $1.53 earnings per share. Alphabet’s revenue for the quarter was up 1.0% compared to the same quarter last year. Sell-side analysts forecast that Alphabet Inc. will post 5.12 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The stock was purchased at an average cost of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the acquisition, the insider now directly owns 1,709,527 shares in the company, valued at $50,072,045.83. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other Alphabet news, Director Ann Mather sold 340 shares of the stock in a transaction on Wednesday, January 25th. The stock was sold at an average price of $96.92, for a total value of $32,952.80. Following the completion of the transaction, the director now owns 11,300 shares in the company, valued at $1,095,196. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the business’s stock in a transaction on Monday, March 13th. The stock was acquired at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the transaction, the insider now directly owns 1,709,527 shares of the company’s stock, valued at approximately $50,072,045.83. The disclosure for this purchase can be found here. Insiders sold a total of 74,245 shares of company stock valued at $7,174,078 over the last three months. 12.99% of the stock is currently owned by company insiders.

Alphabet Company Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.