Austin Private Wealth LLC Sells 1,621 Shares of Alphabet Inc. (NASDAQ:GOOG)

Austin Private Wealth LLC lessened its position in Alphabet Inc. (NASDAQ:GOOG) by 7.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,638 shares of the information services provider’s stock after selling 1,621 shares during the period. Austin Private Wealth LLC’s holdings in Alphabet were worth $2,909,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Tolleson Wealth Management Inc. bought a new stake in Alphabet in the 2nd quarter worth $411,000. Westshore Wealth LLC grew its holdings in Alphabet by 31.2% in the 2nd quarter. Westshore Wealth LLC now owns 15,700 shares of the information services provider’s stock worth $1,887,000 after acquiring an additional 3,730 shares during the last quarter. Washington Trust Bank grew its holdings in Alphabet by 33.0% in the 3rd quarter. Washington Trust Bank now owns 7,359 shares of the information services provider’s stock worth $970,000 after acquiring an additional 1,826 shares during the last quarter. Woodley Farra Manion Portfolio Management Inc. grew its holdings in Alphabet by 20.0% in the 2nd quarter. Woodley Farra Manion Portfolio Management Inc. now owns 5,986 shares of the information services provider’s stock worth $724,000 after acquiring an additional 996 shares during the last quarter. Finally, CNB Bank grew its holdings in Alphabet by 6.6% in the 3rd quarter. CNB Bank now owns 27,723 shares of the information services provider’s stock worth $3,655,000 after acquiring an additional 1,710 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 0.2 %

Shares of NASDAQ GOOG opened at $152.26 on Friday. Alphabet Inc. has a 1 year low of $100.29 and a 1 year high of $155.20. The stock has a market cap of $1.89 trillion, a P/E ratio of 26.25, a price-to-earnings-growth ratio of 1.40 and a beta of 1.05. The firm has a 50-day moving average of $144.75 and a 200 day moving average of $139.39. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $85.28 billion. During the same period last year, the company posted $1.05 EPS. Alphabet’s revenue was up 13.5% on a year-over-year basis. As a group, sell-side analysts expect that Alphabet Inc. will post 6.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GOOG. Susquehanna raised their target price on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Raymond James raised their target price on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Buy” and an average target price of $146.33.

Insider Activity at Alphabet

In related news, SVP Prabhakar Raghavan sold 16,088 shares of Alphabet stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $139.10, for a total transaction of $2,237,840.80. Following the completion of the transaction, the senior vice president now directly owns 52,440 shares of the company’s stock, valued at approximately $7,294,404. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $148.78, for a total value of $3,347,550.00. Following the completion of the transaction, the chief executive officer now directly owns 2,310,191 shares of the company’s stock, valued at $343,710,216.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Prabhakar Raghavan sold 16,088 shares of Alphabet stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $139.10, for a total transaction of $2,237,840.80. Following the completion of the transaction, the senior vice president now directly owns 52,440 shares of the company’s stock, valued at $7,294,404. The disclosure for this sale can be found here. Insiders sold a total of 251,138 shares of company stock valued at $35,427,655 in the last three months. Company insiders own 12.99% of the company’s stock.

Alphabet 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.