Perfromance Wealth Partners LLC Sells 9,226 Shares of Alphabet Inc. (NASDAQ:GOOG)

Perfromance Wealth Partners LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 1.1% during the 4th quarter, HoldingsChannel reports. The firm owned 839,754 shares of the information services provider’s stock after selling 9,226 shares during the quarter. Alphabet comprises 5.2% of Perfromance Wealth Partners LLC’s investment portfolio, making the stock its 5th biggest position. Perfromance Wealth Partners LLC’s holdings in Alphabet were worth $118,347,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in GOOG. Hutchens & Kramer Investment Management Group LLC lifted its holdings in Alphabet by 3.0% in the fourth quarter. Hutchens & Kramer Investment Management Group LLC now owns 4,578 shares of the information services provider’s stock valued at $645,000 after acquiring an additional 135 shares during the last quarter. Coerente Capital Management lifted its holdings in Alphabet by 3.8% in the fourth quarter. Coerente Capital Management now owns 6,495 shares of the information services provider’s stock valued at $915,000 after acquiring an additional 240 shares during the last quarter. True North Advisors LLC lifted its holdings in Alphabet by 1.9% in the fourth quarter. True North Advisors LLC now owns 55,938 shares of the information services provider’s stock valued at $7,883,000 after acquiring an additional 1,065 shares during the last quarter. Chicago Capital LLC lifted its holdings in Alphabet by 57.0% in the fourth quarter. Chicago Capital LLC now owns 52,768 shares of the information services provider’s stock valued at $7,437,000 after acquiring an additional 19,150 shares during the last quarter. Finally, Glass Jacobson Investment Advisors llc lifted its holdings in Alphabet by 3.2% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 4,756 shares of the information services provider’s stock valued at $670,000 after acquiring an additional 149 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of recent analyst reports. Susquehanna upped their price objective on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Raymond James boosted their target price on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $146.33.

Read Our Latest Report on Alphabet

Alphabet Stock Down 0.4 %

Shares of NASDAQ GOOG opened at $155.87 on Wednesday. Alphabet Inc. has a 52-week low of $102.38 and a 52-week high of $157.00. The business’s 50 day moving average is $145.15 and its two-hundred day moving average is $139.74. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The firm has a market cap of $1.94 trillion, a price-to-earnings ratio of 26.87, a PEG ratio of 1.41 and a beta of 1.05.

Alphabet (NASDAQ:GOOGGet Free Report) last posted its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business had revenue of $86.31 billion for the quarter, compared to analyst estimates of $85.28 billion. During the same quarter in the prior year, the company earned $1.05 earnings per share. The company’s revenue was up 13.5% on a year-over-year basis. Research analysts predict that Alphabet Inc. will post 6.77 EPS for the current year.

Insider Transactions at Alphabet

In other news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the sale, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Ruth Porat sold 48,077 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the transaction, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 48,076 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $142.20, for a total value of $6,836,407.20. Following the completion of the transaction, the insider now directly owns 12,725 shares in the company, valued at approximately $1,809,495. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 228,239 shares of company stock valued at $32,432,382. 12.99% of the stock is currently owned by company insiders.

About Alphabet

(Free Report)

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.

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Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGFree Report).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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