Atlas Private Wealth Advisors Sells 925 Shares of Alphabet Inc. (NASDAQ:GOOG)

Atlas Private Wealth Advisors lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 4.6% in the fourth quarter, HoldingsChannel reports. The firm owned 19,235 shares of the information services provider’s stock after selling 925 shares during the period. Atlas Private Wealth Advisors’ holdings in Alphabet were worth $3,665,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Eclectic Associates Inc. ADV grew its holdings in Alphabet by 2.8% during the fourth quarter. Eclectic Associates Inc. ADV now owns 2,888 shares of the information services provider’s stock valued at $550,000 after purchasing an additional 78 shares during the period. Benin Management CORP grew its holdings in shares of Alphabet by 5.6% in the 4th quarter. Benin Management CORP now owns 29,709 shares of the information services provider’s stock valued at $5,658,000 after buying an additional 1,586 shares during the period. Exchange Traded Concepts LLC increased its position in shares of Alphabet by 1.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 6,609 shares of the information services provider’s stock valued at $1,259,000 after buying an additional 98 shares in the last quarter. CX Institutional raised its stake in Alphabet by 10.0% during the 4th quarter. CX Institutional now owns 34,284 shares of the information services provider’s stock worth $6,529,000 after buying an additional 3,108 shares during the period. Finally, Berbice Capital Management LLC bought a new position in Alphabet during the fourth quarter worth about $2,731,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on GOOG. Canaccord Genuity Group boosted their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Jefferies Financial Group raised their price objective on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. UBS Group upped their target price on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Barclays lifted their price target on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Six research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $205.13.

Insider Buying and Selling

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the transaction, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the sale, the insider now directly owns 43,981 shares in the company, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 133,387 shares of company stock valued at $24,368,654. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG opened at $201.90 on Monday. The stock has a 50 day moving average of $187.95 and a 200 day moving average of $175.21. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $203.84. The company has a market capitalization of $2.47 trillion, a price-to-earnings ratio of 26.78, a PEG ratio of 1.27 and a beta of 0.99.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same period in the prior year, the firm earned $1.55 EPS. The company’s revenue was up 15.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.02 earnings per share for the current year.

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.