Alphabet Inc. (NASDAQ:GOOG) is Parkside Investments LLC’s 6th Largest Position

Parkside Investments LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 9.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 74,597 shares of the information services provider’s stock after selling 7,586 shares during the quarter. Alphabet accounts for approximately 2.1% of Parkside Investments LLC’s holdings, making the stock its 6th largest holding. Parkside Investments LLC’s holdings in Alphabet were worth $14,206,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GOOG. Harrell Investment Partners LLC grew its position 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 purchasing an additional 53 shares during the last quarter. Redhawk Wealth Advisors Inc. grew its holdings in Alphabet by 1.1% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock worth $966,000 after buying an additional 54 shares in the last quarter. Investment Advisory Group LLC increased its position in 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 period. McGlone Suttner Wealth Management Inc. raised its stake in Alphabet by 4.6% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 1,275 shares of the information services provider’s stock valued at $243,000 after acquiring an additional 56 shares in the last quarter. Finally, Sunburst Financial Group LLC boosted its position in Alphabet by 2.1% during the 3rd quarter. Sunburst Financial Group LLC now owns 2,959 shares of the information services provider’s stock worth $495,000 after acquiring an additional 60 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GOOG. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Citigroup increased their price target on Alphabet from $212.00 to $216.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group raised their target price on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. increased their price objective on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, UBS Group boosted their target price on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.13.

Alphabet Stock Performance

GOOG opened at $197.18 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market cap of $2.41 trillion, a PE ratio of 26.15, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99. The stock has a 50-day moving average of $188.64 and a 200-day moving average of $175.20. Alphabet Inc. has a 52-week low of $131.55 and a 52-week high of $203.84.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $86.39 billion. During the same quarter last year, the company posted $1.55 earnings per share. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. As a group, equities research analysts forecast that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $171.42, for a total transaction of $234,331.14. Following the completion of the sale, the chief accounting officer now owns 26,349 shares in the company, valued at $4,516,745.58. This represents a 4.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the sale, the director now directly owns 282,832 shares in the company, valued at $52,329,576.64. This trade represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 122,887 shares of company stock valued at $22,470,464. Company insiders own 12.99% 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.