Coastal Investment Advisors Inc. Lowers Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Coastal Investment Advisors Inc. lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 6.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,585 shares of the information services provider’s stock after selling 2,308 shares during the quarter. Alphabet comprises about 0.7% of Coastal Investment Advisors Inc.’s holdings, making the stock its 24th largest position. Coastal Investment Advisors Inc.’s holdings in Alphabet were worth $2,787,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. VitalStone Financial LLC purchased a new stake in Alphabet in the 4th quarter valued at approximately $25,000. Laurel Wealth Planning LLC boosted its holdings in Alphabet by 1,900.0% in the 3rd quarter. Laurel Wealth Planning LLC now owns 300 shares of the information services provider’s stock valued at $29,000 after purchasing an additional 285 shares in the last quarter. Coston McIsaac & Partners boosted its holdings in Alphabet by 1,900.0% in the 3rd quarter. Coston McIsaac & Partners now owns 320 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 304 shares in the last quarter. McElhenny Sheffield Capital Management LLC purchased a new stake in Alphabet in the 4th quarter valued at approximately $33,000. Finally, TFO TDC LLC boosted its holdings in Alphabet by 952.6% in the 3rd quarter. TFO TDC LLC now owns 400 shares of the information services provider’s stock valued at $38,000 after purchasing an additional 362 shares in the last quarter. Hedge funds and other institutional investors own 34.06% of the company’s stock.

Insider Transactions at Alphabet

In other news, major shareholder 2021 Gp L.L.C. Gv acquired 415,000 shares of the company’s stock in a transaction dated Monday, March 13th. The stock was acquired at an average cost of $29.29 per share, for a total transaction of $12,155,350.00. Following the acquisition, the insider now directly owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, major shareholder 2019 Gp L.L.C. Gv sold 87,922 shares of the stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $14.13, for a total value of $1,242,337.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder 2021 Gp L.L.C. Gv purchased 415,000 shares of the stock in a transaction that occurred on Monday, March 13th. The stock was bought at an average price of $29.29 per share, with a total value of $12,155,350.00. Following the completion of the acquisition, the insider now owns 1,709,527 shares in the company, valued at approximately $50,072,045.83. The disclosure for this purchase can be found here. In the last ninety days, 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.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of analyst reports. Raymond James lifted their price objective on Alphabet from $119.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, April 26th. UBS Group lifted their price target on shares of Alphabet from $120.00 to $123.00 and gave the company a “buy” rating in a research report on Thursday, April 6th. Barclays lifted their price target on shares of Alphabet from $150.00 to $160.00 and gave the company an “overweight” rating in a research report on Friday, February 3rd. Royal Bank of Canada lifted their price target on shares of Alphabet from $130.00 to $132.00 in a research report on Wednesday, April 26th. Finally, Robert W. Baird lifted their price target on shares of Alphabet from $120.00 to $123.00 and gave the company an “outperform” rating in a research report on Wednesday, April 26th. Four investment analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $130.56.

Alphabet Trading Up 2.1 %

Shares of Alphabet stock opened at $123.48 on Friday. Alphabet Inc. has a fifty-two week low of $83.34 and a fifty-two week high of $126.43. The firm has a market cap of $1.57 trillion, a PE ratio of 27.50, a P/E/G ratio of 1.54 and a beta of 1.10. The business’s fifty day moving average is $108.64 and its two-hundred day moving average is $99.13. 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 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.11. The business had revenue of $69.79 billion during the quarter, compared to the consensus estimate of $57.19 billion. Alphabet had a return on equity of 22.84% and a net margin of 20.58%. During the same period in the prior year, the firm posted $1.23 EPS. Analysts anticipate that Alphabet Inc. will post 5.41 earnings per share for the current year.

Alphabet Company 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.