Main Street Research LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,941 shares of the information services provider’s stock after selling 383 shares during the period. Main Street Research LLC’s holdings in Alphabet were worth $1,142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. VitalStone Financial LLC bought a new position in shares of Alphabet during the fourth quarter valued at approximately $25,000. IAG Wealth Partners LLC grew its stake in shares of Alphabet by 3,275.0% during the third quarter. IAG Wealth Partners LLC now owns 270 shares of the information services provider’s stock valued at $26,000 after buying an additional 262 shares during the last quarter. Artemis Wealth Advisors LLC grew its stake in shares of Alphabet by 1,900.0% during the third quarter. Artemis Wealth Advisors LLC now owns 280 shares of the information services provider’s stock valued at $27,000 after buying an additional 266 shares during the last quarter. Laurel Wealth Planning LLC grew its stake in shares of Alphabet by 1,900.0% during the third quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after buying an additional 285 shares during the last quarter. Finally, Coston McIsaac & Partners grew its stake in shares of Alphabet by 1,900.0% during the third quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock valued at $30,000 after buying an additional 304 shares during the last quarter. 34.06% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Alphabet
In other Alphabet news, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $103.46, for a total transaction of $3,349,931.34. Following the completion of the transaction, the senior vice president now owns 76,580 shares in the company, valued at approximately $7,922,966.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv bought 415,000 shares of the company’s stock in a transaction dated Monday, March 13th. The shares were purchased at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the transaction, the insider now directly owns 1,709,527 shares of the company’s stock, valued at $50,072,045.83. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Prabhakar Raghavan sold 32,379 shares of the firm’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $103.46, for a total value of $3,349,931.34. Following the sale, the senior vice president now owns 76,580 shares in the company, valued at $7,922,966.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,539 shares of company stock worth $10,214,031. Insiders own 11.44% of the company’s stock.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.11. The business had revenue of $69.79 billion during the quarter, compared to analyst estimates of $57.19 billion. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. During the same quarter last year, the business posted $1.23 EPS. As a group, research analysts expect that Alphabet Inc. will post 5.39 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the company. Credit Suisse Group cut their target price on Alphabet from $136.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 26th. JMP Securities reissued a “market outperform” rating and issued a $132.00 price objective on shares of Alphabet in a research note on Thursday, March 16th. Bank of America increased their price objective on Alphabet from $125.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, April 26th. Jefferies Financial Group reissued a “buy” rating and issued a $130.00 price objective on shares of Alphabet in a research note on Friday, February 10th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $115.00 price objective on shares of Alphabet in a research note on Monday, April 3rd. Three analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $130.06.
Alphabet Company 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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