Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Narwhal Capital Management

Narwhal Capital Management reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 296,188 shares of the information services provider’s stock after selling 5,583 shares during the period. Alphabet accounts for about 5.0% of Narwhal Capital Management’s holdings, making the stock its 5th largest holding. Narwhal Capital Management’s holdings in Alphabet were worth $56,406,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Weiss Asset Management LP purchased a new position in Alphabet during the third quarter worth $25,000. Safe Harbor Fiduciary LLC purchased a new position in Alphabet during the third quarter worth $33,000. Sanctuary Wealth Management L.L.C. increased its position in Alphabet by 87.3% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after buying an additional 117 shares in the last quarter. Iron Horse Wealth Management LLC increased its position in Alphabet by 32.3% during the third quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock worth $57,000 after buying an additional 84 shares in the last quarter. Finally, Kieckhefer Group LLC purchased a new position in Alphabet during the fourth quarter worth $76,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Up 1.7 %

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

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $86.39 billion. During the same period last year, the business earned $1.55 EPS. The business’s quarterly revenue was up 15.1% on a year-over-year basis. Sell-side analysts forecast that Alphabet Inc. will post 8.02 earnings per share for the current year.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $171.42, for a total value of $234,331.14. Following the transaction, the chief accounting officer now directly owns 26,349 shares of the company’s stock, valued at $4,516,745.58. The trade was a 4.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 37,134 shares of Alphabet stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the sale, the director now directly owns 282,832 shares in the company, valued at $52,329,576.64. The trade was a 11.61 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 122,887 shares of company stock valued at $22,470,464. Corporate insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GOOG. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Citigroup lifted their price objective on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Pivotal Research lifted their price objective on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Scotiabank lifted their price objective on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a research report on Friday, January 24th. Finally, Wells Fargo & Company lifted their price objective on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $205.13.

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.