Cedar Mountain Advisors LLC Sells 240 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Cedar Mountain Advisors LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 38.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 379 shares of the information services provider’s stock after selling 240 shares during the period. Cedar Mountain Advisors LLC’s holdings in Alphabet were worth $53,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bornite Capital Management LP bought a new stake in shares of Alphabet during the first quarter valued at approximately $16,688,000. Markel Corp raised its position in shares of Alphabet by 17.0% during the first quarter. Markel Corp now owns 15,500 shares of the information services provider’s stock valued at $43,110,000 after buying an additional 2,250 shares during the last quarter. United Bank raised its position in shares of Alphabet by 5.9% during the first quarter. United Bank now owns 2,033 shares of the information services provider’s stock valued at $5,654,000 after buying an additional 113 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Alphabet by 23.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 323,918 shares of the information services provider’s stock valued at $900,929,000 after buying an additional 61,427 shares during the last quarter. Finally, Dakota Wealth Management raised its position in shares of Alphabet by 20.4% during the first quarter. Dakota Wealth Management now owns 9,279 shares of the information services provider’s stock valued at $25,806,000 after buying an additional 1,570 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

GOOGL opened at $150.67 on Wednesday. Alphabet Inc. has a 52-week low of $99.74 and a 52-week high of $153.78. 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 company has a market cap of $1.87 trillion, a P/E ratio of 25.98, a price-to-earnings-growth ratio of 1.39 and a beta of 1.04. The firm’s 50-day moving average price is $143.17 and its 200-day moving average price is $137.93.

Alphabet (NASDAQ:GOOGL) last issued its earnings results 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 firm 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 in the prior year, the firm earned $1.05 earnings per share. As a group, equities analysts anticipate that Alphabet Inc. will post 6.77 EPS for the current fiscal year.

Analyst Ratings Changes

GOOGL has been the topic of several recent analyst reports. 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 research report on Wednesday, January 31st. Mizuho raised their target price on shares of Alphabet from $155.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Redburn Atlantic raised their target price on shares of Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Needham & Company LLC reissued a “buy” rating and issued a $160.00 target price on shares of Alphabet in a report on Wednesday, January 31st. Finally, BMO Capital Markets raised their target price on shares of Alphabet from $170.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Five research 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. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $155.48.

Insider Activity at Alphabet

In other Alphabet news, insider John Kent Walker sold 28,281 shares of the company’s stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $141.40, for a total value of $3,998,933.40. Following the sale, the insider now owns 25,002 shares in the company, valued at approximately $3,535,282.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider John Kent Walker sold 28,281 shares of the company’s stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $141.40, for a total transaction of $3,998,933.40. Following the completion of the transaction, the insider now directly owns 25,002 shares of the company’s stock, valued at approximately $3,535,282.80. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Frances Arnold sold 230 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the transaction, the director now directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The disclosure for this sale can be found here. Insiders have sold a total of 279,659 shares of company stock worth $39,460,310 over the last quarter. Insiders own 0.88% of the company’s stock.

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