Financial Advisors LLC Lowers Stake in Alphabet Inc. (NASDAQ:GOOG)

Financial Advisors LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,629 shares of the information services provider’s stock after selling 320 shares during the quarter. Alphabet makes up about 0.7% of Financial Advisors LLC’s portfolio, making the stock its 12th biggest position. Financial Advisors LLC’s holdings in Alphabet were worth $3,189,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the stock. Sargent Investment Group LLC raised its stake in Alphabet by 2.5% in the fourth quarter. Sargent Investment Group LLC now owns 38,009 shares of the information services provider’s stock valued at $5,357,000 after buying an additional 914 shares during the last quarter. Stonebrook Private Inc. purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $1,384,000. Omnia Family Wealth LLC boosted its stake in Alphabet by 6.8% in the 4th quarter. Omnia Family Wealth LLC now owns 8,114 shares of the information services provider’s stock worth $1,144,000 after purchasing an additional 514 shares in the last quarter. Opinicus Capital Inc. purchased a new stake in Alphabet during the 4th quarter worth approximately $1,126,000. Finally, Unique Wealth Strategies LLC purchased a new position in shares of Alphabet in the fourth quarter worth $1,199,000. 27.26% of the stock is owned by institutional investors.

Alphabet Stock Performance

NASDAQ:GOOG opened at $173.69 on Monday. The company has a fifty day moving average of $149.12 and a two-hundred day moving average of $142.78. Alphabet Inc. has a fifty-two week low of $104.42 and a fifty-two week high of $176.42. The stock has a market capitalization of $2.16 trillion, a PE ratio of 26.64, a P/E/G ratio of 1.59 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.15.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. During the same quarter in the prior year, the firm earned $1.17 EPS. The company’s revenue for the quarter was up 15.4% on a year-over-year basis. As a group, research analysts forecast that Alphabet Inc. will post 6.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on GOOG shares. Susquehanna boosted their price objective on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Morgan Stanley reissued an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Stifel Nicolaus lifted their price objective on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Raymond James increased their price objective on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Finally, Oppenheimer increased their price target on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Alphabet presently has a consensus rating of “Buy” and an average target price of $165.67.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 660 shares of Alphabet stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the transaction, the chief accounting officer now owns 27,920 shares in the company, valued at approximately $4,009,032.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the sale, the chief accounting officer now directly owns 27,920 shares in the company, valued at $4,009,032.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the sale, the senior vice president now directly owns 144,685 shares in the company, valued at $22,566,519.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 253,439 shares of company stock worth $36,746,578. Corporate insiders own 12.99% of the company’s stock.

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.