Donaldson Capital Management LLC Sells 6,340 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Donaldson Capital Management LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 9.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 63,446 shares of the information services provider’s stock after selling 6,340 shares during the period. Donaldson Capital Management LLC’s holdings in Alphabet were worth $8,863,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. FMR LLC lifted its stake in shares of Alphabet by 5.6% in the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after purchasing an additional 12,070,681 shares during the period. Northern Trust Corp raised its stake in Alphabet by 3.7% during the 3rd quarter. Northern Trust Corp now owns 67,684,197 shares of the information services provider’s stock worth $8,857,154,000 after acquiring an additional 2,416,328 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Alphabet by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 34,035,275 shares of the information services provider’s stock worth $4,453,856,000 after acquiring an additional 335,219 shares during the period. American Century Companies Inc. raised its stake in Alphabet by 7.8% during the 3rd quarter. American Century Companies Inc. now owns 25,064,614 shares of the information services provider’s stock worth $3,279,955,000 after acquiring an additional 1,809,910 shares during the period. Finally, Jennison Associates LLC raised its stake in Alphabet by 9.3% during the 3rd quarter. Jennison Associates LLC now owns 24,145,417 shares of the information services provider’s stock worth $3,159,669,000 after acquiring an additional 2,058,221 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 1.4 %

NASDAQ:GOOGL opened at $156.28 on Tuesday. Alphabet Inc. has a twelve month low of $102.63 and a twelve month high of $160.22. The company has a market cap of $1.94 trillion, a price-to-earnings ratio of 26.94, a price-to-earnings-growth ratio of 1.42 and a beta of 1.05. The stock has a fifty day simple moving average of $146.43 and a 200-day simple moving average of $140.78. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last released 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. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $70.77 billion. During the same period last year, the company earned $1.05 earnings per share. Analysts anticipate that Alphabet Inc. will post 6.78 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on GOOGL. KeyCorp raised their target price on shares of Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday. Canaccord Genuity Group increased their price objective on shares of Alphabet from $180.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. JMP Securities reaffirmed a “market outperform” rating and set a $160.00 price objective on shares of Alphabet in a report on Wednesday, April 10th. Jefferies Financial Group increased their price objective on shares of Alphabet from $175.00 to $180.00 and gave the company a “buy” rating in a report on Friday. Finally, Mizuho increased their price objective on shares of Alphabet from $155.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Five analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $158.71.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the completion of the sale, the chief executive officer now directly owns 2,303,011 shares in the company, valued at $362,516,961.51. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction dated Tuesday, January 30th. The stock was 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 directly owns 15,104 shares in the company, valued at $2,326,922.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the sale, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 251,339 shares of company stock worth $36,377,482. 0.88% of the stock is currently owned by insiders.

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.