Sowell Financial Services LLC Has $12.78 Million Position in Alphabet Inc. (NASDAQ:GOOG)

Sowell Financial Services LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 90,661 shares of the information services provider’s stock after selling 8,247 shares during the quarter. Alphabet makes up approximately 0.7% of Sowell Financial Services LLC’s portfolio, making the stock its 27th largest position. Sowell Financial Services LLC’s holdings in Alphabet were worth $12,777,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in GOOG. Moneta Group Investment Advisors LLC boosted its holdings in shares of Alphabet by 61,587.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock worth $11,539,004,000 after purchasing an additional 129,835,437 shares during the period. Bank of New York Mellon Corp lifted its stake in Alphabet by 1,807.4% in the third quarter. Bank of New York Mellon Corp now owns 57,069,444 shares of the information services provider’s stock valued at $5,487,226,000 after acquiring an additional 54,077,519 shares during the last quarter. Norges Bank acquired a new stake in Alphabet in the fourth quarter valued at approximately $3,059,614,000. Morgan Stanley lifted its stake in Alphabet by 37.6% in the fourth quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock valued at $6,368,961,000 after acquiring an additional 19,612,974 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Alphabet by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after acquiring an additional 9,703,425 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GOOG has been the subject of a number of analyst reports. Susquehanna lifted their target price on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Raymond James lifted their target price on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th.

Alphabet Trading Up 1.3 %

NASDAQ:GOOG opened at $153.94 on Monday. Alphabet Inc. has a 12 month low of $103.27 and a 12 month high of $157.00. The firm has a market cap of $1.91 trillion, a price-to-earnings ratio of 26.54, a P/E/G ratio of 1.42 and a beta of 1.05. 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 company’s 50 day moving average is $145.39 and its 200-day moving average is $140.21.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company had revenue of $86.31 billion for the quarter, compared to analyst estimates of $85.28 billion. During the same quarter last year, the firm posted $1.05 earnings per share. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. Equities analysts anticipate that Alphabet Inc. will post 6.77 EPS for the current year.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the transaction, the chief executive officer now owns 2,325,513 shares of the company’s stock, valued at $362,012,608.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the transaction, the chief executive officer now owns 2,325,513 shares of the company’s stock, valued at $362,012,608.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total transaction of $105,566.78. Following the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at approximately $4,532,870.36. The disclosure for this sale can be found here. Insiders have sold a total of 250,739 shares of company stock valued at $35,934,957 over the last 90 days. 12.99% of the stock is currently owned by company insiders.

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.