GraniteShares Advisors LLC Sells 2,913 Shares of Alphabet Inc. (NASDAQ:GOOGL)

GraniteShares Advisors LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 12.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,879 shares of the information services provider’s stock after selling 2,913 shares during the period. Alphabet accounts for 2.6% of GraniteShares Advisors LLC’s investment portfolio, making the stock its 2nd biggest position. GraniteShares Advisors LLC’s holdings in Alphabet were worth $2,917,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. FMR LLC increased 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 buying an additional 12,070,681 shares during the last quarter. Northern Trust Corp grew its position in Alphabet by 3.7% during the third quarter. Northern Trust Corp now owns 67,684,197 shares of the information services provider’s stock valued at $8,857,154,000 after acquiring an additional 2,416,328 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Alphabet by 1.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 34,035,275 shares of the information services provider’s stock worth $4,453,856,000 after acquiring an additional 335,219 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Alphabet by 7.8% in the 3rd quarter. American Century Companies Inc. now owns 25,064,614 shares of the information services provider’s stock worth $3,279,955,000 after purchasing an additional 1,809,910 shares during the period. Finally, Jennison Associates LLC lifted its stake in shares of Alphabet by 9.3% in the 3rd quarter. Jennison Associates LLC now owns 24,145,417 shares of the information services provider’s stock valued at $3,159,669,000 after purchasing an additional 2,058,221 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on GOOGL. Truist Financial raised their price target on shares of Alphabet from $158.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Wolfe Research lifted their target price on shares of Alphabet from $170.00 to $180.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Roth Mkm decreased their price target on shares of Alphabet from $166.00 to $164.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. Citigroup restated a “buy” rating and set a $168.00 price objective on shares of Alphabet in a research note on Wednesday, April 10th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $185.00 target price (up previously from $178.00) on shares of Alphabet in a research note on Wednesday, April 10th. Five investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $158.71.

Insider Transactions at Alphabet

In other Alphabet news, Director Frances Arnold sold 230 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the sale, the chief accounting officer now directly owns 27,920 shares in the company, valued at $4,009,032.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares in the company, valued at $2,326,922.24. The disclosure for this sale can be found here. Insiders have sold a total of 251,339 shares of company stock worth $36,377,482 in the last 90 days. 0.88% of the stock is owned by insiders.

Alphabet Trading Up 0.5 %

Alphabet stock opened at $159.13 on Thursday. The stock has a market cap of $1.98 trillion, a P/E ratio of 27.44, a P/E/G ratio of 1.44 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 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’s fifty day simple moving average is $146.96 and its 200-day simple moving average is $141.06.

Alphabet (NASDAQ:GOOGL) last posted its quarterly 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 the consensus estimate of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same period last year, the business earned $1.05 EPS. As a group, sell-side analysts forecast 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.