Riversedge Advisors LLC Sells 901 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Riversedge Advisors LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 10.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,707 shares of the information services provider’s stock after selling 901 shares during the quarter. Riversedge Advisors LLC’s holdings in Alphabet were worth $1,077,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Live Oak Investment Partners bought a new stake in shares of Alphabet in the fourth quarter worth $26,000. VitalStone Financial LLC boosted its holdings in Alphabet by 1,900.0% during the second quarter. VitalStone Financial LLC now owns 280 shares of the information services provider’s stock worth $34,000 after purchasing an additional 266 shares during the last quarter. Sanctuary Wealth Management L.L.C. acquired a new position in Alphabet during the fourth quarter worth $34,000. Turim 21 Investimentos Ltda. acquired a new position in Alphabet during the third quarter worth $38,000. Finally, Meritage Group LP boosted its holdings in Alphabet by 1,061.5% during 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. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $150.87 on Thursday. The firm has a market cap of $1.88 trillion, a PE ratio of 26.01, a price-to-earnings-growth ratio of 1.39 and a beta of 1.04. Alphabet Inc. has a fifty-two week low of $99.74 and a fifty-two week high of $153.78. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The business has a 50 day moving average price of $143.33 and a 200-day moving average price of $138.03.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The firm 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 firm posted $1.05 earnings per share. Equities research analysts predict that Alphabet Inc. will post 6.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GOOGL. Wedbush increased their target price on shares of Alphabet from $160.00 to $175.00 and gave the stock an “outperform” rating in a report on Friday, March 22nd. KeyCorp upped their price target on shares of Alphabet from $153.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, January 29th. Wells Fargo & Company upped their price target on shares of Alphabet from $141.00 to $144.00 and gave the stock an “equal weight” rating in a research report on Monday, March 18th. Needham & Company LLC reaffirmed a “buy” rating and set a $160.00 price target on shares of Alphabet in a research report on Wednesday, January 31st. Finally, Truist Financial dropped their price target 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. Five analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $155.48.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the transaction, the chief executive officer now owns 2,332,691 shares in the company, valued at $309,548,095.70. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the transaction, the chief executive officer now owns 2,332,691 shares in the company, valued at $309,548,095.70. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 500 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $149.50, for a total value of $74,750.00. Following the completion of the transaction, the director now owns 8,791 shares of the company’s stock, valued at approximately $1,314,254.50. The disclosure for this sale can be found here. Insiders sold a total of 251,378 shares of company stock worth $35,461,377 over the last quarter. 0.88% of the stock is owned by corporate insiders.

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.