Rise Advisors LLC Cuts Stake in Alphabet Inc. (NASDAQ:GOOG)

Rise Advisors LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Get Rating) by 15.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,042 shares of the information services provider’s stock after selling 380 shares during the quarter. Rise Advisors LLC’s holdings in Alphabet were worth $181,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. First National Bank of Mount Dora Trust Investment Services increased its position in shares of Alphabet by 10.6% during the fourth quarter. First National Bank of Mount Dora Trust Investment Services now owns 19,697 shares of the information services provider’s stock worth $1,748,000 after acquiring an additional 1,885 shares during the last quarter. Capital Investment Advisors LLC increased its position in shares of Alphabet by 1.8% during the fourth quarter. Capital Investment Advisors LLC now owns 25,172 shares of the information services provider’s stock worth $2,234,000 after acquiring an additional 447 shares during the last quarter. West Oak Capital LLC increased its position in shares of Alphabet by 2.7% during the fourth quarter. West Oak Capital LLC now owns 24,740 shares of the information services provider’s stock worth $2,195,000 after acquiring an additional 640 shares during the last quarter. Future Financial Wealth Managment LLC grew its stake in Alphabet by 2,191.6% in the fourth quarter. Future Financial Wealth Managment LLC now owns 10,885 shares of the information services provider’s stock worth $966,000 after purchasing an additional 10,410 shares in the last quarter. Finally, Modus Advisors LLC grew its stake in Alphabet by 1.1% in the fourth quarter. Modus Advisors LLC now owns 35,352 shares of the information services provider’s stock worth $3,137,000 after purchasing an additional 395 shares in the last quarter. 28.69% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $102.46 on Friday. Alphabet Inc. has a 12 month low of $83.45 and a 12 month high of $144.16. The stock has a market cap of $1.31 trillion, a price-to-earnings ratio of 22.51, a PEG ratio of 1.30 and a beta of 1.09. The stock’s 50 day moving average price is $95.69 and its 200 day moving average price is $96.82. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 2.34.

Alphabet (NASDAQ:GOOG – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The information services provider reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.09). The company had revenue of $76.05 billion during the quarter, compared to the consensus estimate of $76.49 billion. Alphabet had a net margin of 21.20% and a return on equity of 23.54%. Alphabet’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.53 EPS. Equities research analysts anticipate that Alphabet Inc. will post 5.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 37,500 shares of the company’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $100.00, for a total value of $3,750,000.00. Following the transaction, the director now owns 144,740 shares of the company’s stock, valued at $14,474,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the stock in a transaction on Monday, March 13th. The shares were purchased at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the transaction, the insider now owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 37,500 shares of Alphabet stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $100.00, for a total transaction of $3,750,000.00. Following the transaction, the director now owns 144,740 shares in the company, valued at $14,474,000. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 74,245 shares of company stock valued at $7,174,078. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GOOG. Piper Sandler decreased their price target on Alphabet from $122.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, February 3rd. Sanford C. Bernstein set a $130.00 price target on Alphabet in a research note on Monday, February 6th. JPMorgan Chase & Co. set a $118.00 price target on Alphabet in a research note on Thursday, February 9th. The Goldman Sachs Group set a $128.00 price target on Alphabet in a research note on Friday, February 3rd. Finally, Bank of America lifted their target price on Alphabet from $116.00 to $119.00 and gave the company a “buy” rating in a research note on Tuesday, January 31st. One equities research analyst has rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $137.13.

Alphabet Profile

(Get Rating)

Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.