Alesco Advisors LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 10.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,440 shares of the information services provider’s stock after selling 300 shares during the period. Alesco Advisors LLC’s holdings in Alphabet were worth $217,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in GOOG. OLD Second National Bank of Aurora raised its holdings in shares of Alphabet by 1,900.0% during the third quarter. OLD Second National Bank of Aurora now owns 260 shares of the information services provider’s stock worth $25,000 after purchasing an additional 247 shares during the period. Westchester Capital Management Inc. raised its holdings in shares of Alphabet by 1,900.0% during the third quarter. Westchester Capital Management Inc. now owns 260 shares of the information services provider’s stock worth $25,000 after purchasing an additional 247 shares during the period. Carolina Wealth Advisors LLC raised its holdings in shares of Alphabet by 1,900.0% during the third quarter. Carolina Wealth Advisors LLC now owns 300 shares of the information services provider’s stock worth $29,000 after purchasing an additional 285 shares during the period. Saban Cheryl raised its holdings in shares of Alphabet by 1,900.0% during the third quarter. Saban Cheryl now owns 200 shares of the information services provider’s stock worth $29,000 after purchasing an additional 190 shares during the period. Finally, Gould Capital LLC raised its holdings in shares of Alphabet by 2,150.0% during the third quarter. Gould Capital LLC now owns 315 shares of the information services provider’s stock worth $30,000 after purchasing an additional 301 shares during the period. 28.69% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Alphabet
In other news, CAO Amie Thuener O’toole sold 637 shares of Alphabet stock in a transaction that occurred on Wednesday, February 1st. The shares were sold at an average price of $99.87, for a total value of $63,617.19. Following the transaction, the chief accounting officer now owns 25,282 shares of the company’s stock, valued at $2,524,913.34. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CAO Amie Thuener O’toole sold 637 shares of the business’s stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $99.87, for a total transaction of $63,617.19. Following the transaction, the chief accounting officer now owns 25,282 shares of the company’s stock, valued at $2,524,913.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ann Mather sold 340 shares of the business’s stock in a transaction on Wednesday, January 25th. The stock was sold at an average price of $96.92, for a total transaction of $32,952.80. Following the transaction, the director now directly owns 11,300 shares in the company, valued at approximately $1,095,196. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 112,192 shares of company stock valued at $11,373,417. 12.99% of the stock is currently owned by corporate insiders.
Alphabet Price Performance
Alphabet (NASDAQ:GOOG – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The information services provider reported $1.05 earnings per share for the quarter, missing the consensus estimate 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%. Alphabet’s revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.53 EPS. As a group, research analysts expect that Alphabet Inc. will post 5.11 EPS for the current fiscal year.
Analyst Ratings Changes
A number of analysts have weighed in on GOOG shares. Bank of America increased their target price on shares of Alphabet from $116.00 to $119.00 and gave the stock a “buy” rating in a report on Tuesday, January 31st. Piper Sandler lowered their price target on shares of Alphabet from $122.00 to $120.00 and set an “overweight” rating for the company in a research report on Friday, February 3rd. JPMorgan Chase & Co. set a $118.00 price target on shares of Alphabet in a research report on Thursday, February 9th. Raymond James upped their price target on shares of Alphabet from $116.00 to $119.00 and gave the stock an “outperform” rating in a research report on Friday, February 3rd. Finally, Oppenheimer increased their target price on shares of Alphabet from $130.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, February 3rd. One analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $135.24.
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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