Ritholtz Wealth Management lowered its stake in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 6.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 66,757 shares of the information services provider’s stock after selling 4,386 shares during the quarter. Ritholtz Wealth Management’s holdings in Alphabet were worth $5,923,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of GOOG. Walled Lake Planning & Wealth Management LLC increased its stake in shares of Alphabet by 1,900.0% during the third quarter. Walled Lake Planning & Wealth Management LLC now owns 34,120 shares of the information services provider’s stock valued at $3,281,000 after buying an additional 32,414 shares during the period. Grand Jean Capital Management Inc. increased its stake in shares of Alphabet by 1,926.2% during the third quarter. Grand Jean Capital Management Inc. now owns 137,135 shares of the information services provider’s stock valued at $13,186,000 after buying an additional 130,367 shares during the period. Connecticut Wealth Management LLC increased its stake in shares of Alphabet by 1,415.4% during the third quarter. Connecticut Wealth Management LLC now owns 8,350 shares of the information services provider’s stock valued at $803,000 after buying an additional 7,799 shares during the period. Matthew Goff Investment Advisor LLC increased its stake in shares of Alphabet by 4.2% during the fourth quarter. Matthew Goff Investment Advisor LLC now owns 7,380 shares of the information services provider’s stock valued at $655,000 after buying an additional 300 shares during the period. Finally, Clarity Financial LLC increased its stake in shares of Alphabet by 2,118.6% during the third quarter. Clarity Financial LLC now owns 61,722 shares of the information services provider’s stock valued at $5,935,000 after buying an additional 58,940 shares during the period. Institutional investors own 28.69% of the company’s stock.
Insider Activity
In other news, Director Ann Mather sold 380 shares of the company’s stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total transaction of $33,911.20. Following the transaction, the director now directly owns 11,300 shares of the company’s stock, valued at $1,008,412. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Ann Mather sold 380 shares of the company’s stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $89.24, for a total transaction of $33,911.20. Following the transaction, the director now directly owns 11,300 shares of the company’s stock, valued at $1,008,412. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 22,203 shares of the company’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $89.75, for a total value of $1,992,719.25. Following the transaction, the senior vice president now directly owns 76,579 shares in the company, valued at $6,872,965.25. The disclosure for this sale can be found here. Insiders have sold a total of 74,245 shares of company stock valued at $7,174,078 over the last ninety days. 12.99% of the stock is currently owned by corporate insiders.
Alphabet Trading Down 0.2 %
Alphabet (NASDAQ:GOOG – Get Rating) last announced its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.09). The business had revenue of $76.05 billion for the quarter, compared to the consensus estimate of $76.49 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.53 earnings per share. As a group, equities analysts forecast that Alphabet Inc. will post 5.12 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on GOOG. Credit Suisse Group set a $136.00 target price on Alphabet in a research note on Friday, February 3rd. Piper Sandler reduced their price target on Alphabet from $122.00 to $120.00 and set an “overweight” rating on the stock in a research note on Friday, February 3rd. Societe Generale reduced their price target on Alphabet from $147.00 to $132.00 and set a “buy” rating on the stock in a research note on Wednesday, November 30th. Cowen reduced their price target on Alphabet from $135.00 to $125.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 11th. Finally, UBS Group set a $120.00 price target on Alphabet in a research note on Monday, February 6th. One investment analyst has rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $135.11.
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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