Foundations Investment Advisors LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 30.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,177 shares of the information services provider’s stock after selling 16,369 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Alphabet were worth $3,280,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Willow Creek Wealth Management Inc. grew its holdings in shares of Alphabet by 1,926.9% during the third quarter. Willow Creek Wealth Management Inc. now owns 18,546 shares of the information services provider’s stock worth $1,774,000 after purchasing an additional 17,631 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in Alphabet during the 3rd quarter worth approximately $55,305,000. Griffin Asset Management Inc. increased its position in Alphabet by 1,900.0% in the 3rd quarter. Griffin Asset Management Inc. now owns 52,240 shares of the information services provider’s stock valued at $4,997,000 after acquiring an additional 49,628 shares during the period. Bridgewater Advisors Inc. raised its stake in shares of Alphabet by 3,005.0% during the third quarter. Bridgewater Advisors Inc. now owns 67,503 shares of the information services provider’s stock valued at $6,457,000 after acquiring an additional 65,329 shares during the last quarter. Finally, Adell Harriman & Carpenter Inc. lifted its holdings in shares of Alphabet by 1,915.2% during the third quarter. Adell Harriman & Carpenter Inc. now owns 129,797 shares of the information services provider’s stock worth $12,415,000 after purchasing an additional 123,356 shares during the period. 34.06% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In related news, SVP Prabhakar Raghavan sold 22,203 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the sale, the senior vice president now owns 76,579 shares of the company’s stock, valued at approximately $6,872,965.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Prabhakar Raghavan sold 22,203 shares of Alphabet stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $89.75, for a total transaction of $1,992,719.25. Following the completion of the sale, the senior vice president now owns 76,579 shares of the company’s stock, valued at $6,872,965.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kavitark Ram Shriram sold 37,500 shares of the company’s stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $100.00, for a total value of $3,750,000.00. Following the completion of the transaction, the director now owns 144,740 shares in the company, valued at $14,474,000. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 74,245 shares of company stock worth $7,174,078. 11.44% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Alphabet Trading Down 0.4 %
NASDAQ:GOOGL opened at $101.22 on Tuesday. Alphabet Inc. has a 1 year low of $83.34 and a 1 year high of $143.79. The stock’s fifty day moving average price is $95.34 and its two-hundred day moving average price is $96.03. 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 company has a market cap of $1.30 trillion, a P/E ratio of 22.24, a P/E/G ratio of 1.40 and a beta of 1.09.
Alphabet (NASDAQ:GOOGL – Get Rating) last issued its earnings results on Thursday, February 2nd. The information services provider reported $1.05 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.09). The company had revenue of $76.05 billion during the quarter, compared to the consensus estimate of $63.15 billion. Alphabet had a return on equity of 23.54% and a net margin of 21.20%. During the same quarter in the prior year, the business earned $1.53 EPS. As a group, analysts expect that Alphabet Inc. will post 5.12 EPS for the current year.
About Alphabet
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.
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