Absher Wealth Management LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 193,889 shares of the information services provider’s stock after selling 1,096 shares during the period. Alphabet accounts for about 3.1% of Absher Wealth Management LLC’s portfolio, making the stock its 20th largest holding. Absher Wealth Management LLC’s holdings in Alphabet were worth $17,107,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Willow Creek Wealth Management Inc. lifted its holdings in Alphabet by 1,926.9% in the third quarter. Willow Creek Wealth Management Inc. now owns 18,546 shares of the information services provider’s stock valued at $1,774,000 after acquiring an additional 17,631 shares during the last quarter. Bfsg LLC lifted its holdings in Alphabet by 160.5% in the fourth quarter. Bfsg LLC now owns 8,075 shares of the information services provider’s stock valued at $712,000 after acquiring an additional 4,975 shares during the last quarter. Ibex Investors LLC acquired a new position in Alphabet in the fourth quarter valued at approximately $2,617,000. Louisiana State Employees Retirement System acquired a new position in Alphabet in the third quarter valued at approximately $55,305,000. Finally, Griffin Asset Management Inc. lifted its holdings in Alphabet by 1,900.0% in the third 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 last quarter. 34.06% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, CAO Amie Thuener O’toole sold 637 shares of the stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total transaction of $68,483.87. Following the completion of the transaction, the chief accounting officer now directly owns 25,937 shares of the company’s stock, valued at $2,788,486.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, Director Ann Mather sold 380 shares of the stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $90.05, for a total value of $34,219.00. Following the completion of the transaction, the director now directly owns 11,300 shares of the company’s stock, valued at $1,017,565. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 637 shares of the stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $107.51, for a total transaction of $68,483.87. Following the completion of the transaction, the chief accounting officer now directly owns 25,937 shares of the company’s stock, valued at $2,788,486.87. The disclosure for this sale can be found here. Insiders sold 100,539 shares of company stock valued at $10,214,031 over the last ninety days. Corporate insiders own 11.44% of the company’s stock.
Alphabet Trading Down 1.8 %
Alphabet (NASDAQ:GOOGL – Get Rating) last posted its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.11. The firm had revenue of $69.79 billion during the quarter, compared to analysts’ expectations of $57.19 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. During the same period in the prior year, the company posted $1.23 earnings per share. Equities research analysts expect that Alphabet Inc. will post 5.39 EPS for the current year.
Wall Street Analyst Weigh In
A number of analysts have issued reports on the company. Loop Capital boosted their target price on Alphabet from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, February 8th. Wolfe Research boosted their target price on Alphabet from $120.00 to $130.00 and gave the company an “outperform” rating in a research report on Wednesday, April 26th. BNP Paribas raised Alphabet from a “neutral” rating to an “outperform” rating and set a $123.00 target price on the stock in a research report on Friday, March 17th. StockNews.com raised Alphabet from a “hold” rating to a “buy” rating in a research report on Wednesday, April 26th. Finally, Wells Fargo & Company boosted their target price on Alphabet from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Three research analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $130.06.
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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