Eley Financial Management Inc Sells 654 Shares of Alphabet Inc. (NASDAQ:GOOG)

Eley Financial Management Inc trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,847 shares of the information services provider’s stock after selling 654 shares during the period. Alphabet comprises 1.6% of Eley Financial Management Inc’s holdings, making the stock its 23rd biggest holding. Eley Financial Management Inc’s holdings in Alphabet were worth $3,502,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in GOOG. Bruce G. Allen Investments LLC purchased a new stake in Alphabet in the 4th quarter valued at about $26,000. Tandem Wealth Advisors LLC purchased a new stake in shares of Alphabet in the 3rd quarter worth approximately $25,000. Equitec Proprietary Markets LLC purchased a new stake in shares of Alphabet in the 4th quarter worth approximately $28,000. Buck Wealth Strategies LLC purchased a new stake in shares of Alphabet in the 3rd quarter worth approximately $32,000. Finally, Barometer Capital Management Inc. purchased a new stake in shares of Alphabet in the 3rd quarter worth approximately $32,000. 27.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on GOOG. Morgan Stanley reissued an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Oppenheimer upped their price target on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Susquehanna increased their price objective on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Stifel Nicolaus increased their price objective on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Raymond James increased their price objective on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Alphabet presently has an average rating of “Buy” and a consensus price target of $159.86.

Alphabet Trading Up 10.1 %

Shares of GOOG traded up $15.96 during trading on Friday, reaching $173.91. 36,395,327 shares of the company traded hands, compared to its average volume of 22,368,740. Alphabet Inc. has a twelve month low of $104.42 and a twelve month high of $176.42. The stock has a market cap of $2.16 trillion, a PE ratio of 29.81, a price-to-earnings-growth ratio of 1.48 and a beta of 1.05. The stock has a 50-day simple moving average of $148.48 and a 200-day simple moving average of $142.51. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. During the same period last year, the business earned $1.17 earnings per share. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, analysts anticipate that Alphabet Inc. will post 6.79 earnings per share for the current year.

Insider Buying and Selling

In other Alphabet news, Director Frances Arnold sold 230 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the sale, the director now directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the transaction, the chief accounting officer now owns 27,920 shares in the company, valued at approximately $4,009,032.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Frances Arnold sold 230 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Insiders have sold a total of 251,339 shares of company stock valued at $36,377,482 in the last ninety days. Company insiders own 12.99% of the company’s stock.

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.