Austin Private Wealth LLC Decreases Stake in Alphabet Inc. (NASDAQ:GOOG)

Austin Private Wealth LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOG) by 7.3% in the 4th quarter, according to 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 quarter. Austin Private Wealth LLC’s holdings in Alphabet were worth $2,909,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Tandem Wealth Advisors LLC purchased a new position in Alphabet during the 3rd quarter worth approximately $25,000. Bruce G. Allen Investments LLC purchased a new position in Alphabet during the 4th quarter worth approximately $26,000. HWG Holdings LP purchased a new position in Alphabet during the 2nd quarter worth approximately $26,000. Intrepid Capital Management Inc. purchased a new position in Alphabet during the 2nd quarter worth approximately $31,000. Finally, Buck Wealth Strategies LLC acquired a new stake in shares of Alphabet during the 3rd quarter worth approximately $32,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 425 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $139.61, for a total value of $59,334.25. Following the completion of the sale, the chief accounting officer now owns 27,259 shares of the company’s stock, valued at approximately $3,805,628.99. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the sale, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 425 shares of Alphabet stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $139.61, for a total transaction of $59,334.25. Following the sale, the chief accounting officer now directly owns 27,259 shares in the company, valued at approximately $3,805,628.99. The disclosure for this sale can be found here. In the last quarter, insiders sold 251,138 shares of company stock valued at $35,427,655. 12.99% of the stock is owned by corporate insiders.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $152.26 on Friday. The firm has a market cap of $1.89 trillion, a PE ratio of 26.25, a PEG ratio of 1.40 and a beta of 1.05. The firm has a fifty 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 quick ratio of 2.10 and a current ratio of 2.10. Alphabet Inc. has a one year low of $100.29 and a one year high of $155.20.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.60 by $0.04. The company had revenue of $86.31 billion during the quarter, compared to analyst estimates of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm’s revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.05 EPS. As a group, research analysts predict that Alphabet Inc. will post 6.77 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.