High Net Worth Advisory Group LLC Sells 999 Shares of Alphabet Inc. (NASDAQ:GOOG)

High Net Worth Advisory Group LLC reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 8.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,271 shares of the information services provider’s stock after selling 999 shares during the quarter. High Net Worth Advisory Group LLC’s holdings in Alphabet were worth $1,956,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. OLIO Financial Planning acquired a new stake in Alphabet during the fourth quarter valued at approximately $562,000. Requisite Capital Management LLC bought a new position in shares of Alphabet during the 4th quarter worth approximately $927,000. Novare Capital Management LLC boosted its stake in Alphabet by 18.1% in the 4th quarter. Novare Capital Management LLC now owns 4,675 shares of the information services provider’s stock valued at $890,000 after buying an additional 715 shares in the last quarter. M3 Advisory Group LLC grew its position in Alphabet by 3.6% in the fourth quarter. M3 Advisory Group LLC now owns 5,016 shares of the information services provider’s stock valued at $955,000 after acquiring an additional 172 shares during the period. Finally, Harrell Investment Partners LLC raised its stake in Alphabet by 0.9% during the fourth quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider’s stock worth $1,078,000 after acquiring an additional 53 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Trading Up 1.7 %

GOOG opened at $197.07 on Wednesday. The firm has a 50 day simple moving average of $188.29 and a 200 day simple moving average of $175.13. Alphabet Inc. has a fifty-two week low of $131.55 and a fifty-two week high of $203.84. The company has a market cap of $2.41 trillion, a price-to-earnings ratio of 26.14, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick 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, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter in the previous year, the company posted $1.55 EPS. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Frances Arnold sold 441 shares of the business’s stock in a transaction dated 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 directly owns 16,490 shares in the company, valued at approximately $2,820,779.40. The trade was a 2.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $194.32, for a total transaction of $550,702.88. Following the completion of the sale, the chief accounting officer now owns 17,847 shares in the company, valued at $3,468,029.04. This represents a 13.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 122,887 shares of company stock valued at $22,470,464 over the last three months. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Barclays raised their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. Jefferies Financial Group raised their price target on Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Oppenheimer increased their target price on Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Six investment 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. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $205.13.

About Alphabet

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.