MKT Advisors LLC Cuts Stake in Alphabet Inc. (NASDAQ:GOOG)

MKT Advisors LLC reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 4.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,787 shares of the information services provider’s stock after selling 197 shares during the quarter. MKT Advisors LLC’s holdings in Alphabet were worth $748,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Harrell Investment Partners LLC increased its holdings in Alphabet by 0.9% in the 4th quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider’s stock worth $1,078,000 after buying an additional 53 shares during the period. Redhawk Wealth Advisors Inc. lifted its stake in Alphabet by 1.1% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock valued at $966,000 after acquiring an additional 54 shares during the period. Investment Advisory Group LLC boosted its holdings in shares of Alphabet by 0.7% in the 4th quarter. Investment Advisory Group LLC now owns 7,684 shares of the information services provider’s stock valued at $1,463,000 after acquiring an additional 56 shares during the last quarter. McGlone Suttner Wealth Management Inc. increased its stake in shares of Alphabet by 4.6% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 1,275 shares of the information services provider’s stock worth $243,000 after acquiring an additional 56 shares during the period. Finally, Sunburst Financial Group LLC raised its holdings in shares of Alphabet by 2.1% during the third quarter. Sunburst Financial Group LLC now owns 2,959 shares of the information services provider’s stock worth $495,000 after purchasing an additional 60 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total value of $550,702.88. Following the transaction, the chief accounting officer now owns 17,847 shares in the company, valued at approximately $3,468,029.04. This represents a 13.70 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 122,887 shares of company stock worth $22,470,464. 12.99% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have weighed in on GOOG. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Barclays lifted their price target on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Pivotal Research upped their price objective on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Scotiabank raised their price objective on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research note on Friday, January 24th. Finally, Oppenheimer boosted their target price on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $205.13.

Alphabet Stock Performance

NASDAQ GOOG opened at $197.07 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The stock’s 50 day simple moving average is $188.29 and its 200-day simple moving average is $175.13. The company has a market cap of $2.41 trillion, a PE ratio of 26.14, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $203.84.

Alphabet (NASDAQ:GOOG) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.55 earnings per share. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

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.