Alphabet Inc. (NASDAQ:GOOG) is Heirloom Wealth Management’s 4th Largest Position

Heirloom Wealth Management reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 5.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 121,396 shares of the information services provider’s stock after selling 6,715 shares during the period. Alphabet accounts for about 6.9% of Heirloom Wealth Management’s investment portfolio, making the stock its 4th largest position. Heirloom Wealth Management’s holdings in Alphabet were worth $23,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of GOOG. Weiss Asset Management LP purchased a new position in shares of Alphabet in the 3rd quarter worth $25,000. Safe Harbor Fiduciary LLC acquired a new stake in Alphabet during the third quarter worth about $33,000. Sanctuary Wealth Management L.L.C. raised its holdings in shares of Alphabet by 87.3% in the 3rd 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 lifted its stake 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 purchasing an additional 84 shares in the last quarter. Finally, Kieckhefer Group LLC purchased a new stake in shares of Alphabet during the 4th quarter worth about $76,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Frances Arnold sold 441 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the transaction, the director now owns 16,490 shares in the company, valued at $2,820,779.40. The trade was a 2.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was 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. The trade was a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 121,630 shares of company stock worth $22,258,133 over the last ninety days. 12.99% of the stock is owned by insiders.

Wall Street Analyst Weigh In

GOOG has been the topic of several research reports. Wedbush restated an “outperform” rating and issued a $220.00 price target on shares of Alphabet in a report on Thursday. Canaccord Genuity Group lifted their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Citigroup raised their price objective on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Phillip Securities raised Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $206.69.

Alphabet Stock Performance

Shares of Alphabet stock opened at $202.63 on Friday. The firm has a market cap of $2.48 trillion, a PE ratio of 26.87, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99. Alphabet Inc. has a 1 year low of $131.55 and a 1 year high of $203.84. The firm’s 50-day simple moving average is $189.03 and its 200-day simple moving average is $175.35. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

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