Graphene Investments SAS Sells 2,300 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Graphene Investments SAS cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 9.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,900 shares of the information services provider’s stock after selling 2,300 shares during the period. Graphene Investments SAS’s holdings in Alphabet were worth $2,920,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in GOOGL. DC Investments Management LLC purchased a new position in shares of Alphabet in the first quarter valued at about $114,000. Bridgefront Capital LLC purchased a new position in shares of Alphabet in the first quarter valued at about $225,000. Worth Asset Management LLC purchased a new position in shares of Alphabet in the first quarter valued at about $206,000. Eudaimonia Advisors LLC increased its position in shares of Alphabet by 15.1% in the first quarter. Eudaimonia Advisors LLC now owns 99 shares of the information services provider’s stock valued at $275,000 after acquiring an additional 13 shares during the period. Finally, Aspire Capital Advisors LLC purchased a new position in shares of Alphabet in the first quarter valued at about $281,000. 40.03% of the stock is owned by institutional investors.

Alphabet Price Performance

Alphabet stock opened at $154.40 on Wednesday. The stock has a market cap of $1.92 trillion, a price-to-earnings ratio of 26.62, a price-to-earnings-growth ratio of 1.46 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. Alphabet Inc. has a 1 year low of $102.63 and a 1 year high of $160.22. The firm has a 50-day moving average of $145.76 and a two-hundred day moving average of $140.19.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. During the same period in the previous year, the company earned $1.05 EPS. On average, research analysts forecast that Alphabet Inc. will post 6.78 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on GOOGL shares. Wolfe Research boosted their price objective on shares of Alphabet from $170.00 to $180.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Wells Fargo & Company decreased their price objective on shares of Alphabet from $144.00 to $141.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 3rd. StockNews.com upgraded shares of Alphabet from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 20th. Rosenblatt Securities reduced their price target on shares of Alphabet from $174.00 to $172.00 and set a “buy” rating on the stock in a research report on Wednesday, January 31st. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $185.00 price target (up previously from $178.00) on shares of Alphabet in a research report on Wednesday, April 10th. Five investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $156.64.

Insider Buying and Selling at Alphabet

In other news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the sale, the chief financial officer now owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Frances Arnold sold 230 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the sale, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the sale, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The disclosure for this sale can be found here. Insiders sold a total of 228,839 shares of company stock valued at $32,835,757 in the last three months. Company insiders own 0.88% of the company’s stock.

Alphabet Company 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.