Palisade Capital Management LP cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 3.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,389 shares of the information services provider’s stock after selling 606 shares during the period. Palisade Capital Management LP’s holdings in Alphabet were worth $1,534,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. ETF Managers Group LLC grew its stake in Alphabet by 3.8% in the 4th quarter. ETF Managers Group LLC now owns 5,113 shares of the information services provider’s stock valued at $451,000 after buying an additional 187 shares during the last quarter. Claro Advisors LLC boosted its holdings in Alphabet by 1,923.8% in the 4th quarter. Claro Advisors LLC now owns 18,983 shares of the information services provider’s stock valued at $1,675,000 after purchasing an additional 18,045 shares during the period. Mather Group LLC. lifted its holdings in shares of Alphabet by 9.4% during the 4th quarter. Mather Group LLC. now owns 31,379 shares of the information services provider’s stock worth $2,769,000 after acquiring an additional 2,694 shares during the period. Capital Asset Advisory Services LLC lifted its holdings in shares of Alphabet by 19.1% during the 4th quarter. Capital Asset Advisory Services LLC now owns 41,848 shares of the information services provider’s stock worth $3,668,000 after acquiring an additional 6,711 shares during the period. Finally, Sheets Smith Wealth Management lifted its holdings in shares of Alphabet by 7.1% during the 4th quarter. Sheets Smith Wealth Management now owns 11,600 shares of the information services provider’s stock worth $1,023,000 after acquiring an additional 765 shares during the period. 34.06% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Alphabet
In other news, SVP Prabhakar Raghavan sold 32,379 shares of Alphabet stock in a transaction dated Monday, April 3rd. The shares were 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 directly owns 76,580 shares in the company, valued at $7,922,966.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Amie Thuener O’toole sold 637 shares of the business’s 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 transaction, the chief accounting officer now directly owns 25,937 shares in the company, valued at $2,788,486.87. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Prabhakar Raghavan sold 32,379 shares of the business’s 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 transaction, 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. Over the last ninety days, insiders sold 810,993 shares of company stock valued at $29,335,058. Corporate insiders own 0.88% of the company’s stock.
Wall Street Analysts Forecast Growth
Alphabet Trading Down 1.2 %
GOOGL opened at $123.53 on Friday. Alphabet Inc. has a 1-year low of $83.34 and a 1-year high of $129.04. The company has a current ratio of 2.35, a quick ratio of 2.32 and a debt-to-equity ratio of 0.05. The company has a market cap of $1.57 trillion, a P/E ratio of 27.51, a price-to-earnings-growth ratio of 1.59 and a beta of 1.09. The company has a fifty day moving average price of $115.08 and a two-hundred day moving average price of $102.35.
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 for the quarter, beating the consensus estimate of $1.06 by $0.11. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. The firm had revenue of $69.79 billion during the quarter, compared to the consensus estimate of $57.19 billion. During the same period in the previous year, the firm posted $1.23 earnings per share. Analysts predict that Alphabet Inc. will post 5.41 EPS for the current fiscal year.
Alphabet Company Profile
Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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