Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Parkside Investments LLC

Parkside Investments LLC decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 9.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,597 shares of the information services provider’s stock after selling 7,586 shares during the quarter. Alphabet accounts for about 2.1% of Parkside Investments LLC’s holdings, making the stock its 6th biggest holding. Parkside Investments LLC’s holdings in Alphabet were worth $14,206,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harrell Investment Partners LLC raised its position in Alphabet by 0.9% in 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. Redhawk Wealth Advisors Inc. grew its stake in shares of Alphabet by 1.1% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock worth $966,000 after purchasing an additional 54 shares during the period. Investment Advisory Group LLC increased its holdings in shares of Alphabet by 0.7% in the 4th quarter. Investment Advisory Group LLC now owns 7,684 shares of the information services provider’s stock valued at $1,463,000 after purchasing an additional 56 shares in the last quarter. McGlone Suttner Wealth Management Inc. lifted its stake in shares of Alphabet by 4.6% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 1,275 shares of the information services provider’s stock valued at $243,000 after purchasing an additional 56 shares during the period. Finally, Sunburst Financial Group LLC grew its position in Alphabet by 2.1% during the third quarter. Sunburst Financial Group LLC now owns 2,959 shares of the information services provider’s stock worth $495,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, Director Frances Arnold sold 441 shares of the company’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 sale, the director now directly owns 16,490 shares in the company, valued at $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $171.42, for a total transaction of $234,331.14. Following the sale, the chief accounting officer now directly owns 26,349 shares of the company’s stock, valued at approximately $4,516,745.58. This trade represents a 4.93 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 122,887 shares of company stock valued at $22,470,464. Insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOG has been the subject of a number of research reports. Scotiabank lifted their price target on shares of Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Friday, January 24th. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Canaccord Genuity Group raised their price target on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Oppenheimer boosted their price objective on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group lifted their target price on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $205.13.

Alphabet Stock Performance

NASDAQ GOOG opened at $197.18 on Thursday. 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 company has a market capitalization of $2.41 trillion, a PE ratio of 26.15, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99. The business’s 50-day moving average price is $188.64 and its 200 day moving average price is $175.20. Alphabet Inc. has a twelve month low of $131.55 and a twelve month high of $203.84.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping 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 business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $86.39 billion. During the same period last year, the company earned $1.55 earnings per share. The company’s quarterly revenue was up 15.1% on a year-over-year basis. On average, research analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Company 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.