Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Stone Point Wealth LLC

Stone Point Wealth LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,764 shares of the information services provider’s stock after selling 316 shares during the quarter. Stone Point Wealth LLC’s holdings in Alphabet were worth $526,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GOOGL. Vanguard Group Inc. raised its holdings in shares of Alphabet by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 487,435,495 shares of the information services provider’s stock worth $63,785,809,000 after acquiring an additional 1,302,104 shares during the period. FMR LLC raised its holdings in shares of Alphabet by 5.6% during the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after acquiring an additional 12,070,681 shares during the period. State Street Corp raised its holdings in shares of Alphabet by 1,900.6% during the 3rd quarter. State Street Corp now owns 217,154,306 shares of the information services provider’s stock worth $20,770,809,000 after acquiring an additional 206,300,042 shares during the period. Moneta Group Investment Advisors LLC raised its holdings in Alphabet by 111,197.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 170,420,243 shares of the information services provider’s stock valued at $15,036,178,000 after buying an additional 170,267,122 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Alphabet by 1.3% in the 1st quarter. Geode Capital Management LLC now owns 118,576,618 shares of the information services provider’s stock valued at $12,271,705,000 after buying an additional 1,499,107 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on GOOGL shares. Truist Financial reduced their price objective on shares of Alphabet from $160.00 to $158.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. JMP Securities restated a “market outperform” rating and issued a $160.00 price objective on shares of Alphabet in a report on Wednesday, April 10th. Wolfe Research boosted their price objective on shares of Alphabet from $170.00 to $180.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Susquehanna boosted their price objective on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Finally, Roth Mkm reduced their price objective on shares of Alphabet from $166.00 to $164.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $156.64.

Alphabet Price Performance

Alphabet stock opened at $154.40 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The stock has a market capitalization of $1.92 trillion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 1.46 and a beta of 1.05. Alphabet Inc. has a 12 month low of $102.63 and a 12 month high of $160.22. The business has a 50 day simple moving average of $145.76 and a 200-day simple moving average of $140.19.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same quarter last year, the company earned $1.05 earnings per share. Equities analysts predict that Alphabet Inc. will post 6.78 earnings per share for the current year.

Insider Activity at Alphabet

In related news, CFO Ruth Porat sold 48,077 shares of the 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 sale, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director John L. Hennessy sold 800 shares of the stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the transaction, the director now directly owns 7,991 shares in the company, valued at $1,275,043.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ruth Porat sold 48,077 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the transaction, the chief financial officer now owns 1,777,106 shares in the company, valued at $243,854,485.32. The disclosure for this sale can be found here. Insiders have sold a total of 228,839 shares of company stock valued at $32,835,757 over the last quarter. Insiders own 0.88% of the company’s stock.

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