West Wealth Group LLC Reduces Position in Alphabet Inc. (NASDAQ:GOOG)

West Wealth Group LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 19.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,565 shares of the information services provider’s stock after selling 389 shares during the quarter. West Wealth Group LLC’s holdings in Alphabet were worth $298,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. James Hambro & Partners LLP boosted its stake in shares of Alphabet by 1.5% during the fourth quarter. James Hambro & Partners LLP now owns 878,197 shares of the information services provider’s stock worth $167,266,000 after buying an additional 13,274 shares during the period. Mount Yale Investment Advisors LLC raised its stake in Alphabet by 1.5% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 74,535 shares of the information services provider’s stock valued at $14,194,000 after acquiring an additional 1,071 shares during the last quarter. Ridgecrest Wealth Partners LLC lifted its position in Alphabet by 3.5% during the 4th quarter. Ridgecrest Wealth Partners LLC now owns 23,797 shares of the information services provider’s stock worth $4,532,000 after acquiring an additional 800 shares during the period. Valued Wealth Advisors LLC grew its stake in shares of Alphabet by 19.6% in the 4th quarter. Valued Wealth Advisors LLC now owns 830 shares of the information services provider’s stock valued at $158,000 after purchasing an additional 136 shares during the last quarter. Finally, McLean Asset Management Corp raised its stake in shares of Alphabet by 10.1% during the fourth quarter. McLean Asset Management Corp now owns 5,953 shares of the information services provider’s stock worth $1,134,000 after purchasing an additional 548 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Canaccord Genuity Group boosted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Barclays lifted their price objective on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. UBS Group increased their target price on Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $205.13.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $171.42, for a total transaction of $234,331.14. Following the sale, the chief accounting officer now owns 26,349 shares in the company, valued at approximately $4,516,745.58. This trade represents a 4.93 % 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 this hyperlink. Also, Director Frances Arnold sold 441 shares of Alphabet 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 sale, the director now directly owns 16,490 shares of the company’s stock, valued at $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 122,887 shares of company stock worth $22,470,464 over the last three months. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Stock Up 0.1 %

Shares of NASDAQ GOOG opened at $197.18 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The firm’s 50-day moving average is $188.64 and its two-hundred day moving average is $175.20. Alphabet Inc. has a 12-month low of $131.55 and a 12-month high of $203.84. 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.

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