Libra Wealth LLC Trims Holdings in Alphabet Inc. (NASDAQ:GOOG)

Libra Wealth LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 35.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,974 shares of the information services provider’s stock after selling 2,221 shares during the quarter. Alphabet makes up approximately 0.3% of Libra Wealth LLC’s investment portfolio, making the stock its 29th largest position. Libra Wealth LLC’s holdings in Alphabet were worth $757,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. BSW Wealth Partners grew its stake in Alphabet by 5.2% in the fourth quarter. BSW Wealth Partners now owns 24,478 shares of the information services provider’s stock worth $4,661,000 after purchasing an additional 1,205 shares in the last quarter. Patrick M Sweeney & Associates Inc. grew its position in shares of Alphabet by 0.6% during the 4th quarter. Patrick M Sweeney & Associates Inc. now owns 14,828 shares of the information services provider’s stock worth $2,824,000 after buying an additional 86 shares in the last quarter. VCI Wealth Management LLC grew its position in shares of Alphabet by 25.1% during the 4th quarter. VCI Wealth Management LLC now owns 6,306 shares of the information services provider’s stock worth $1,201,000 after buying an additional 1,266 shares in the last quarter. Charter Oak Capital Management LLC raised its holdings in shares of Alphabet by 4.5% in the fourth quarter. Charter Oak Capital Management LLC now owns 6,337 shares of the information services provider’s stock valued at $1,207,000 after acquiring an additional 272 shares in the last quarter. Finally, YHB Investment Advisors Inc. raised its holdings in shares of Alphabet by 1.2% in the fourth quarter. YHB Investment Advisors Inc. now owns 149,019 shares of the information services provider’s stock valued at $28,379,000 after acquiring an additional 1,823 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the transaction, the chief executive officer now directly owns 2,084,306 shares in the company, valued at approximately $369,672,512.16. The trade was a 1.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 121,630 shares of company stock valued at $22,258,133 over the last ninety days. Insiders own 12.99% of the company’s stock.

Alphabet Stock Up 1.5 %

Shares of GOOG opened at $205.60 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.52 trillion, a P/E ratio of 27.27, a PEG ratio of 1.27 and a beta of 0.99. The stock’s 50 day moving average is $189.70 and its two-hundred day moving average is $175.54. Alphabet Inc. has a 12 month low of $131.55 and a 12 month high of $207.08.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion during 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 company’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 earned $1.55 EPS. Analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on GOOG. Canaccord Genuity Group boosted their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Barclays upped their target price on Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Citigroup boosted their price target on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Finally, UBS Group boosted their target price on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $209.13.

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.