Sachetta LLC Decreases Stake in Alphabet Inc. (NASDAQ:GOOG)

Sachetta LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 10.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,967 shares of the information services provider’s stock after selling 686 shares during the quarter. Sachetta LLC’s holdings in Alphabet were worth $1,136,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Weiss Asset Management LP purchased a new stake in shares of Alphabet during the 3rd quarter valued at about $25,000. Safe Harbor Fiduciary LLC acquired a new stake in Alphabet in the third quarter valued at approximately $33,000. HWG Holdings LP purchased a new stake in shares of Alphabet during the second quarter valued at approximately $40,000. Sanctuary Wealth Management L.L.C. lifted its position in shares of Alphabet by 87.3% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after purchasing an additional 117 shares in the last quarter. Finally, Iron Horse Wealth Management LLC boosted its stake in shares of Alphabet by 32.3% in the third quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock valued at $57,000 after purchasing an additional 84 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $189.80, for a total value of $284,700.00. Following the completion of the transaction, the director now owns 21,824 shares of the company’s stock, valued at approximately $4,142,195.20. This represents a 6.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,834 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $197.55, for a total value of $559,856.70. Following the transaction, the chief accounting officer now directly owns 20,681 shares in the company, valued at $4,085,531.55. This trade represents a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 133,387 shares of company stock valued at $24,368,654 in the last ninety days. Company insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Jefferies Financial Group lifted their target price on Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research 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. Oppenheimer lifted their price objective on Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their target price on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Six 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $205.13.

Alphabet Trading Up 1.2 %

NASDAQ:GOOG opened at $201.90 on Monday. The firm has a market capitalization of $2.47 trillion, a P/E ratio of 26.78, a P/E/G ratio of 1.27 and a beta of 0.99. The business has a 50 day simple moving average of $187.95 and a 200 day simple moving average of $175.21. 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 Inc. has a 12-month low of $131.55 and a 12-month high of $203.84.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (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 the consensus estimate of $86.39 billion. During the same quarter in the previous year, the company posted $1.55 earnings per share. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. Equities research analysts predict that Alphabet Inc. will post 8.02 EPS for the current year.

Alphabet 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.