Next Level Private LLC Cuts Position in Alphabet Inc. (NASDAQ:GOOG)

Next Level Private LLC cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 2.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,141 shares of the information services provider’s stock after selling 248 shares during the quarter. Next Level Private LLC’s holdings in Alphabet were worth $1,570,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in GOOG. Totem Point Management LLC increased its holdings in shares of Alphabet by 22.0% in the 1st quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock valued at $8,857,000 after acquiring an additional 571 shares during the period. Somerville Kurt F boosted its position in shares of Alphabet by 10.3% in the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after purchasing an additional 11 shares in the last quarter. BCK Partners Inc. acquired a new stake in shares of Alphabet in the 1st quarter worth $2,564,000. Hall Capital Management Co. Inc. boosted its position in shares of Alphabet by 53.2% in the 1st quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock worth $402,000 after purchasing an additional 50 shares in the last quarter. Finally, Fairfield Bush & CO. boosted its position in shares of Alphabet by 6.8% in the 1st quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock worth $9,412,000 after purchasing an additional 214 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Susquehanna raised their price objective on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Raymond James raised their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $146.33.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 425 shares of Alphabet stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $139.61, for a total value of $59,334.25. Following the completion of the transaction, the chief accounting officer now owns 27,259 shares in the company, valued at approximately $3,805,628.99. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Frances Arnold sold 240 shares of the company’s stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $140.51, for a total value of $33,722.40. Following the transaction, the director now directly owns 14,815 shares in the company, valued at $2,081,655.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 425 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $139.61, for a total value of $59,334.25. Following the completion of the transaction, the chief accounting officer now owns 27,259 shares in the company, valued at $3,805,628.99. The disclosure for this sale can be found here. Insiders sold a total of 251,378 shares of company stock valued at $35,461,377 in the last quarter. 12.99% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Shares of GOOG opened at $152.16 on Thursday. The stock has a 50-day moving average of $144.57 and a two-hundred day moving average of $139.30. Alphabet Inc. has a one year low of $100.29 and a one year high of $155.20. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The stock has a market cap of $1.89 trillion, a P/E ratio of 26.20, a P/E/G ratio of 1.40 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The business had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $85.28 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.05 EPS. As a group, research analysts predict that Alphabet Inc. will post 6.77 EPS for the current 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.