Signature Wealth Management Partners LLC Lowers Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Signature Wealth Management Partners LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOG) by 9.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,288 shares of the information services provider’s stock after selling 450 shares during the period. Signature Wealth Management Partners LLC’s holdings in Alphabet were worth $817,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Weiss Asset Management LP bought a new position in Alphabet during the third quarter valued at approximately $25,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Alphabet during the 3rd quarter worth approximately $33,000. Sanctuary Wealth Management L.L.C. grew its holdings in shares of Alphabet by 87.3% in the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 117 shares in the last quarter. Iron Horse Wealth Management LLC increased its position in Alphabet by 32.3% in the third quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock worth $57,000 after purchasing an additional 84 shares during the last quarter. Finally, Kieckhefer Group LLC bought a new stake in Alphabet in the fourth quarter worth $76,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 1.5 %

Shares of NASDAQ:GOOG opened at $205.60 on Friday. The company has a market capitalization of $2.52 trillion, a PE ratio of 27.27, a P/E/G ratio of 1.27 and a beta of 0.99. 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 $207.08. The business’s fifty day simple moving average is $189.70 and its 200-day simple moving average is $175.54.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The business 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 firm’s revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.55 earnings per share. As a group, equities research analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value 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. This trade represents a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total value of $3,990,600.00. Following the sale, the chief executive officer now owns 2,084,306 shares in the company, valued at $369,672,512.16. The trade was a 1.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 121,630 shares of company stock valued at $22,258,133 in the last 90 days. Insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

GOOG has been the topic of a number of research reports. Jefferies Financial Group boosted their target price on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Wedbush restated an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a research report on Thursday. UBS Group lifted their target price on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Wells Fargo & Company increased their price target on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Oppenheimer lifted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company 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.