Focused Wealth Management Inc cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 24.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,148 shares of the information services provider’s stock after selling 7,566 shares during the quarter. Focused Wealth Management Inc’s holdings in Alphabet were worth $2,042,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the company. StrategIQ Financial Group LLC lifted its stake in Alphabet by 10.1% during the fourth quarter. StrategIQ Financial Group LLC now owns 6,890 shares of the information services provider’s stock valued at $608,000 after buying an additional 630 shares in the last quarter. Transform Wealth LLC increased its holdings in shares of Alphabet by 9.6% in the 4th quarter. Transform Wealth LLC now owns 143,878 shares of the information services provider’s stock valued at $12,694,000 after purchasing an additional 12,569 shares during the period. RVW Wealth LLC increased its holdings in shares of Alphabet by 17.6% in the 4th quarter. RVW Wealth LLC now owns 6,093 shares of the information services provider’s stock valued at $538,000 after purchasing an additional 913 shares during the period. Coerente Capital Management increased its holdings in shares of Alphabet by 0.8% in the 4th quarter. Coerente Capital Management now owns 310,955 shares of the information services provider’s stock valued at $27,435,000 after purchasing an additional 2,391 shares during the period. Finally, MBL Wealth LLC increased its holdings in shares of Alphabet by 3.2% in the 4th quarter. MBL Wealth LLC now owns 22,491 shares of the information services provider’s stock valued at $1,984,000 after purchasing an additional 689 shares during the period. 34.06% of the stock is owned by hedge funds and other institutional investors.
Alphabet Stock Performance
Alphabet stock opened at $105.60 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 $96.20 and a two-hundred day moving average price of $96.13. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $143.79. The firm has a market capitalization of $1.35 trillion, a P/E ratio of 23.21, a P/E/G ratio of 1.40 and a beta of 1.09.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on the company. BNP Paribas upgraded Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 target price on the stock in a report on Friday, March 17th. Truist Financial dropped their price objective on Alphabet from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Friday, February 3rd. Wells Fargo & Company increased their price objective on Alphabet from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Bank of America increased their price objective on Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a report on Tuesday, January 31st. Finally, Evercore ISI dropped their price objective on Alphabet from $130.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, December 21st. Four equities research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $131.83.
Insider Activity
In other news, Director Ann Mather sold 380 shares of the firm’s stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total value of $33,911.20. Following the completion of the sale, the director now directly owns 11,300 shares in the company, valued at $1,008,412. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the stock in a transaction that occurred on Monday, March 13th. The stock was purchased at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the completion of the transaction, the insider now directly owns 1,709,527 shares in the company, valued at $50,072,045.83. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ann Mather sold 380 shares of Alphabet stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total value of $33,911.20. Following the completion of the sale, the director now owns 11,300 shares of the company’s stock, valued at $1,008,412. 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 corporate insiders.
Alphabet Profile
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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