Spinnaker Investment Group LLC Sells 229 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Spinnaker Investment Group LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 4.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,741 shares of the information services provider’s stock after selling 229 shares during the quarter. Spinnaker Investment Group LLC’s holdings in Alphabet were worth $492,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GOOGL. VitalStone Financial LLC bought a new stake in shares of Alphabet in the 4th quarter valued at about $25,000. Live Oak Investment Partners bought a new stake in Alphabet in the fourth quarter valued at approximately $26,000. McElhenny Sheffield Capital Management LLC bought a new stake in Alphabet in the fourth quarter valued at approximately $33,000. Sanctuary Wealth Management L.L.C. bought a new position in shares of Alphabet in the fourth quarter worth approximately $34,000. Finally, Turim 21 Investimentos Ltda. purchased a new position in shares of Alphabet in the third quarter worth $38,000. 35.38% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of equities research analysts have issued reports on GOOGL shares. 1-800-FLOWERS.COM reissued a “downgrade” rating on shares of Alphabet in a report on Monday, May 15th. Needham & Company LLC reiterated a “buy” rating and issued a $115.00 price target on shares of Alphabet in a report on Monday, April 3rd. Bank of America upped their price objective on shares of Alphabet from $125.00 to $128.00 and gave the stock a “buy” rating in a report on Wednesday, April 26th. Jefferies Financial Group boosted their price target on shares of Alphabet from $130.00 to $150.00 in a research report on Tuesday, May 23rd. Finally, Credit Suisse Group cut their price objective on Alphabet from $136.00 to $135.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 26th. Six research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $129.90.

Insiders Place Their Bets

In other news, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of the business’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $15.06, for a total transaction of $563,319.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Amie Thuener O’toole sold 637 shares of Alphabet stock in a transaction dated Tuesday, May 2nd. The stock was 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 of the company’s stock, valued at approximately $2,788,486.87. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder 2019 Gp L.L.C. Gv sold 37,405 shares of the stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $15.06, for a total transaction of $563,319.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 854,930 shares of company stock worth $29,996,488. Company insiders own 0.88% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL opened at $118.34 on Tuesday. Alphabet Inc. has a one year low of $83.34 and a one year high of $129.04. The business has a fifty day moving average of $116.93 and a 200 day moving average of $103.38. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.35 and a quick ratio of 2.32. The firm has a market capitalization of $1.50 trillion, a P/E ratio of 26.36, a PEG ratio of 1.56 and a beta of 1.09.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings results on Tuesday, April 25th. The information services provider reported $1.17 EPS for the quarter, beating the consensus estimate of $1.06 by $0.11. The firm had revenue of $69.79 billion during the quarter, compared to analyst estimates of $57.19 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. During the same quarter in the prior year, the firm earned $1.23 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 5.41 EPS for the current year.

About Alphabet

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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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