Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Coastal Investment Advisors Inc.

Coastal Investment Advisors Inc. decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 6.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 31,585 shares of the information services provider’s stock after selling 2,308 shares during the quarter. Alphabet accounts for about 0.7% of Coastal Investment Advisors Inc.’s investment portfolio, making the stock its 24th largest position. Coastal Investment Advisors Inc.’s holdings in Alphabet were worth $2,787,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in GOOGL. Vanguard Group Inc. boosted its stake in Alphabet by 1,919.4% in the 3rd quarter. Vanguard Group Inc. now owns 477,035,902 shares of the information services provider’s stock worth $45,628,484,000 after purchasing an additional 453,413,389 shares during the period. State Street Corp boosted its stake in shares of Alphabet by 1,900.6% during the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock valued at $20,770,809,000 after buying an additional 206,300,042 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Alphabet by 1,759.2% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 116,116,066 shares of the information services provider’s stock valued at $11,106,502,000 after buying an additional 109,870,525 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Alphabet by 1,955.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 61,134,061 shares of the information services provider’s stock valued at $5,847,474,000 after buying an additional 58,159,150 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Alphabet by 1,896.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 58,060,946 shares of the information services provider’s stock valued at $5,553,529,000 after buying an additional 55,153,448 shares during the period. Institutional investors and hedge funds own 34.06% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $123.48 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.32 and a current ratio of 2.35. The firm’s 50-day simple moving average is $108.64 and its 200-day simple moving average is $99.13. Alphabet Inc. has a twelve month low of $83.34 and a twelve month high of $126.43. The firm has a market cap of $1.57 trillion, a P/E ratio of 27.50, a price-to-earnings-growth ratio of 1.54 and a beta of 1.10.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11. The firm had revenue of $69.79 billion for the quarter, compared to analyst estimates of $57.19 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. During the same period in the previous year, the business earned $1.23 earnings per share. As a group, research analysts expect that Alphabet Inc. will post 5.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. StockNews.com assumed coverage on shares of Alphabet in a research note on Thursday, May 18th. They set a “buy” rating for the company. Stifel Nicolaus assumed coverage on shares of Alphabet in a research note on Monday, March 20th. They set a “buy” rating and a $130.00 target price for the company. Piper Sandler lifted their target price on shares of Alphabet from $117.00 to $128.00 and gave the company an “overweight” rating in a research note on Wednesday, April 26th. Wolfe Research lifted their target price on shares of Alphabet from $120.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. Finally, Raymond James lifted their price objective on shares of Alphabet from $119.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, April 26th. Four analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $130.56.

Insider Buying and Selling at Alphabet

In other Alphabet news, major shareholder 2019 Gp L.L.C. Gv sold 87,922 shares of the business’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $14.13, for a total value of $1,242,337.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, major shareholder 2019 Gp L.L.C. Gv sold 87,922 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $14.13, for a total transaction of $1,242,337.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $125.00, for a total transaction of $100,000.00. Following the sale, the director now directly owns 5,940 shares of the company’s stock, valued at $742,500. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 732,217 shares of company stock worth $21,135,371 and have sold 753,384 shares worth $30,574,577. Company insiders own 0.88% of the company’s stock.

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.