Cambiar Investors LLC Lowers Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Cambiar Investors LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 8.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 361,236 shares of the information services provider’s stock after selling 34,157 shares during the period. Alphabet comprises about 2.0% of Cambiar Investors LLC’s investment portfolio, making the stock its 15th biggest position. Cambiar Investors LLC’s holdings in Alphabet were worth $50,461,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Live Oak Investment Partners bought a new stake in shares of Alphabet in the fourth quarter worth about $26,000. Sanctuary Wealth Management L.L.C. bought a new stake in shares of Alphabet in the fourth quarter worth about $34,000. Turim 21 Investimentos Ltda. bought a new stake in shares of Alphabet in the third quarter worth about $38,000. Meritage Group LP increased its holdings in shares of Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after purchasing an additional 276 shares during the last quarter. Finally, Macroview Investment Management LLC increased its holdings in shares of Alphabet by 165.8% in the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after purchasing an additional 199 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GOOGL. Truist Financial reduced their target price on Alphabet from $160.00 to $158.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. Wolfe Research lifted their target price on Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Mizuho lifted their target price on Alphabet from $155.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Susquehanna boosted their price objective on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Finally, JMP Securities reissued a “market outperform” rating and set a $160.00 price objective on shares of Alphabet in a research note on Wednesday, April 10th. Five analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $155.61.

Alphabet Stock Down 1.1 %

Alphabet stock opened at $157.73 on Monday. The business has a fifty day moving average of $145.33 and a two-hundred day moving average of $139.86. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The firm has a market cap of $1.96 trillion, a P/E ratio of 27.19, a P/E/G ratio of 1.46 and a beta of 1.05. Alphabet Inc. has a twelve month low of $102.63 and a twelve month high of $160.22.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $86.31 billion during 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 in the prior year, the business earned $1.05 earnings per share. On average, analysts forecast that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the completion of the sale, the chief executive officer now owns 2,325,513 shares in the company, valued at $362,012,608.71. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the transaction, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total value of $3,502,575.00. Following the transaction, the chief executive officer now directly owns 2,325,513 shares in the company, valued at $362,012,608.71. The disclosure for this sale can be found here. Insiders sold a total of 250,539 shares of company stock worth $35,906,259 over the last 90 days. Company insiders own 0.88% of the company’s stock.

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.