Marshall Financial Group LLC decreased its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 0.7% during the 4th quarter, HoldingsChannel reports. The fund owned 21,970 shares of the information services provider’s stock after selling 156 shares during the quarter. Alphabet comprises about 1.0% of Marshall Financial Group LLC’s portfolio, making the stock its 19th largest holding. Marshall Financial Group LLC’s holdings in Alphabet were worth $4,184,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the business. Weiss Asset Management LP acquired a new stake in shares of Alphabet in the third quarter valued at approximately $25,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Alphabet in the third quarter valued at approximately $33,000. Sanctuary Wealth Management L.L.C. increased its position in shares of Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after purchasing an additional 117 shares during the period. Iron Horse Wealth Management LLC raised its position in shares of Alphabet by 32.3% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock valued at $57,000 after buying an additional 84 shares in the last quarter. Finally, Kieckhefer Group LLC acquired a new stake in shares of Alphabet in the 4th quarter valued at $76,000. Institutional investors own 27.26% of the company’s stock.
Insiders Place Their Bets
In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the transaction, the chief accounting officer now owns 23,515 shares in the company, valued at approximately $4,007,191.15. This trade represents a 5.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the transaction, the insider now owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 122,887 shares of company stock worth $22,470,464 in the last ninety days. 12.99% of the stock is owned by company insiders.
Alphabet Stock Up 1.7 %
Alphabet (NASDAQ:GOOG – Get Free Report) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.55 earnings per share. As a group, equities analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on GOOG shares. Oppenheimer lifted their price target on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Scotiabank raised their target price on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research note on Friday, January 24th. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, Wells Fargo & Company increased their target price on shares of Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $205.13.
Read Our Latest Stock Analysis on GOOG
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.
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