Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Cardinal Capital Management

Cardinal Capital Management reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,405 shares of the information services provider’s stock after selling 490 shares during the period. Alphabet accounts for about 1.7% of Cardinal Capital Management’s portfolio, making the stock its 13th largest holding. Cardinal Capital Management’s holdings in Alphabet were worth $8,997,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. RWQ Financial Management Services Inc. raised its holdings in Alphabet by 8.2% in the 4th quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock valued at $8,591,000 after acquiring an additional 4,664 shares during the last quarter. Ballast Advisors LLC lifted its position in Alphabet by 9.6% during the third quarter. Ballast Advisors LLC now owns 15,747 shares of the information services provider’s stock worth $2,061,000 after buying an additional 1,385 shares in the last quarter. Quantum Financial Advisors LLC boosted its stake in Alphabet by 8.0% during the third quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock worth $998,000 after buying an additional 564 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Alphabet by 2.4% in the 3rd quarter. Acadian Asset Management LLC now owns 4,416,533 shares of the information services provider’s stock valued at $577,908,000 after buying an additional 104,366 shares in the last quarter. Finally, NatWest Group plc increased its stake in shares of Alphabet by 239.0% in the 4th quarter. NatWest Group plc now owns 100,793 shares of the information services provider’s stock worth $14,080,000 after acquiring an additional 71,057 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Up 0.3 %

Alphabet stock opened at $156.01 on Friday. The stock has a market cap of $1.94 trillion, a PE ratio of 26.90, a P/E/G ratio of 1.42 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. The stock’s fifty day moving average is $146.16 and its two-hundred day moving average is $140.40. Alphabet Inc. has a 1-year low of $102.63 and a 1-year high of $160.22.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. The business had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. During the same quarter last year, the company earned $1.05 EPS. On average, sell-side analysts expect that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer now owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction on 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 directly owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Prabhakar Raghavan sold 3,258 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the transaction, the senior vice president now directly owns 144,685 shares in the company, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 251,339 shares of company stock valued at $36,377,482. 0.88% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on GOOGL. Canaccord Genuity Group raised their price objective on shares of Alphabet from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday. JMP Securities reaffirmed a “market outperform” rating and set a $160.00 price target on shares of Alphabet in a research report on Wednesday, April 10th. Barclays decreased their price objective on Alphabet from $180.00 to $173.00 and set an “overweight” rating on the stock in a report on Wednesday, January 31st. Wolfe Research raised their target price on Alphabet from $170.00 to $180.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $185.00 price target (up previously from $178.00) on shares of Alphabet in a research note on Wednesday, April 10th. Five analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $157.97.

About Alphabet

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.