Alphabet Inc. (NASDAQ:GOOGL) Holdings Lowered by Flynn Zito Capital Management LLC

Flynn Zito Capital Management LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,466 shares of the information services provider’s stock after selling 133 shares during the period. Flynn Zito Capital Management LLC’s holdings in Alphabet were worth $484,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Chico Wealth RIA acquired a new position in Alphabet during the third quarter valued at $330,000. Summit Global Investments increased its position in Alphabet by 67.7% in the 3rd quarter. Summit Global Investments now owns 241,463 shares of the information services provider’s stock worth $31,598,000 after purchasing an additional 97,466 shares during the last quarter. Prentice Wealth Management LLC increased its position in Alphabet by 18.1% in the 3rd quarter. Prentice Wealth Management LLC now owns 7,140 shares of the information services provider’s stock worth $934,000 after purchasing an additional 1,096 shares during the last quarter. Sunflower Bank N.A. increased its position in Alphabet by 6.3% in the 3rd quarter. Sunflower Bank N.A. now owns 5,951 shares of the information services provider’s stock worth $779,000 after purchasing an additional 353 shares during the last quarter. Finally, David J Yvars Group increased its position in Alphabet by 10.3% in the 3rd quarter. David J Yvars Group now owns 4,170 shares of the information services provider’s stock worth $546,000 after purchasing an additional 390 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Ruth Porat sold 48,077 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the sale, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total value of $2,985,750.00. Following the sale, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 253,439 shares of company stock valued at $36,746,578. Corporate insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on GOOGL shares. UBS Group upped their target price on Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Jefferies Financial Group upped their target price on Alphabet from $180.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday. Redburn Atlantic upped their target price on Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. KeyCorp upped their target price on Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. Finally, JMP Securities upped their target price on Alphabet from $160.00 to $200.00 and gave the stock a “market outperform” rating in a research report on Friday. Five analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $187.82.

Alphabet Trading Up 10.2 %

Shares of GOOGL opened at $171.95 on Friday. Alphabet Inc. has a 1 year low of $103.54 and a 1 year high of $174.71. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The stock has a 50 day simple moving average of $147.85 and a 200-day simple moving average of $141.39. The stock has a market cap of $2.14 trillion, a PE ratio of 29.65, a PEG ratio of 1.47 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. During the same period in the prior year, the firm posted $1.05 EPS. On average, sell-side analysts predict that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

About Alphabet

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, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.