CHURCHILL MANAGEMENT Corp Reduces Position in Alphabet Inc. (NASDAQ:GOOGL)

CHURCHILL MANAGEMENT Corp cut its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 9.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 235,775 shares of the information services provider’s stock after selling 24,746 shares during the period. Alphabet accounts for 0.5% of CHURCHILL MANAGEMENT Corp’s investment portfolio, making the stock its 20th largest holding. CHURCHILL MANAGEMENT Corp’s holdings in Alphabet were worth $20,802,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. DC Investments Management LLC purchased a new position in shares of Alphabet in the 1st quarter valued at $114,000. Bridgefront Capital LLC purchased a new position in Alphabet during the 1st quarter worth $225,000. Worth Asset Management LLC purchased a new position in Alphabet during the 1st quarter worth $206,000. Eudaimonia Advisors LLC grew its position in Alphabet by 15.1% during the 1st quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock worth $275,000 after purchasing an additional 13 shares during the last quarter. Finally, Aspire Capital Advisors LLC acquired a new stake in shares of Alphabet in the 1st quarter worth $281,000. 34.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on GOOGL. Wells Fargo & Company raised their target price on shares of Alphabet from $145.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, February 3rd. Bank of America raised their target price on shares of Alphabet from $125.00 to $128.00 and gave the stock a “buy” rating in a research note on Wednesday, April 26th. Credit Suisse Group reduced their price objective on shares of Alphabet from $136.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, April 26th. Morgan Stanley raised their price objective on shares of Alphabet from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, April 26th. Finally, Truist Financial raised their price objective on shares of Alphabet from $120.00 to $122.00 and gave the company a “buy” rating in a research note on Wednesday, April 26th. Four investment analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $130.56.

Insider Activity

In other news, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the company’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $12.72, for a total value of $347,128.80. Following the completion of the transaction, the insider now directly owns 10,958,925 shares in the company, valued at $139,397,526. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, Director Ann Mather sold 380 shares of the stock in a transaction on Monday, February 27th. The shares were sold at an average price of $90.05, for a total transaction of $34,219.00. Following the transaction, the director now directly owns 11,300 shares in the company, valued at approximately $1,017,565. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 27,290 shares of the stock in a transaction on Friday, May 12th. The shares were sold at an average price of $12.72, for a total transaction of $347,128.80. Following the transaction, the insider now owns 10,958,925 shares in the company, valued at $139,397,526. The disclosure for this sale can be found here. Over the last three months, insiders bought 732,217 shares of company stock worth $21,135,371 and sold 753,384 shares worth $30,574,577. Insiders own 0.88% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $123.48 on Friday. Alphabet Inc. has a 52-week low of $83.34 and a 52-week high of $126.43. The firm has a fifty day moving average of $108.64 and a 200-day moving average of $99.13. The firm has a market capitalization of $1.57 trillion, a P/E ratio of 27.50, a PEG ratio of 1.54 and a beta of 1.10. The company has a quick ratio of 2.32, a current ratio of 2.35 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL – Get Rating) last released its quarterly earnings data on Tuesday, April 25th. The information services provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.11. The company had revenue of $69.79 billion during the quarter, compared to analyst estimates of $57.19 billion. Alphabet had a net margin of 20.58% and a return on equity of 22.84%. During the same quarter in the prior year, the business earned $1.23 earnings per share. As a group, analysts predict that Alphabet Inc. will post 5.41 EPS for the current year.

Alphabet Profile

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Alphabet, Inc engages in the business of delivering online advertising, cloud-based solutions that provide enterprise customers with infrastructure and platform services, the provision of communication and collaboration tools, and sales of other products and services such as apps and in-app purchases, hardware, and subscription-based products.