Sycale Advisors NY LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 46.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 80,181 shares of the information services provider’s stock after selling 69,863 shares during the quarter. Alphabet accounts for about 2.1% of Sycale Advisors NY LLC’s holdings, making the stock its 10th largest holding. Sycale Advisors NY LLC’s holdings in Alphabet were worth $9,598,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in GOOGL. Live Oak Investment Partners acquired a new position in shares of Alphabet during the fourth quarter valued at approximately $26,000. Armor Investment Advisors LLC acquired a new stake in shares of Alphabet in the second quarter valued at approximately $28,000. CarsonAllaria Wealth Management Ltd. increased its holdings in shares of Alphabet by 136.7% in the second quarter. CarsonAllaria Wealth Management Ltd. now owns 284 shares of the information services provider’s stock valued at $34,000 after purchasing an additional 164 shares during the last quarter. Sanctuary Wealth Management L.L.C. acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $34,000. Finally, Turim 21 Investimentos Ltda. acquired a new stake in shares of Alphabet in the third quarter valued at approximately $38,000. Institutional investors and hedge funds own 35.08% of the company’s stock.
Analyst Ratings Changes
GOOGL has been the subject of several recent research reports. Susquehanna reaffirmed a “positive” rating and issued a $150.00 price target on shares of Alphabet in a report on Thursday, August 31st. Mizuho increased their price target on Alphabet from $135.00 to $155.00 in a report on Wednesday, July 26th. Truist Financial increased their price target on Alphabet from $122.00 to $160.00 in a report on Wednesday, July 26th. StockNews.com lowered Alphabet from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 14th. Finally, Roth Mkm increased their price objective on Alphabet from $146.00 to $152.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Five investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $147.00.
Alphabet Trading Up 0.7 %
NASDAQ:GOOGL opened at $136.25 on Tuesday. Alphabet Inc. has a 12-month low of $84.86 and a 12-month high of $141.22. The stock has a fifty day moving average price of $133.42 and a 200 day moving average price of $127.88. The firm has a market cap of $1.71 trillion, a PE ratio of 26.15, a price-to-earnings-growth ratio of 1.51 and a beta of 1.05. The company has a current ratio of 2.04, a quick ratio of 2.01 and a debt-to-equity ratio of 0.05.
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings data on Tuesday, October 24th. The information services provider reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.10. Alphabet had a return on equity of 25.24% and a net margin of 22.46%. The company had revenue of $64.05 billion for the quarter, compared to analyst estimates of $63.13 billion. Sell-side analysts anticipate that Alphabet Inc. will post 5.74 earnings per share for the current fiscal year.
Insider Buying and Selling at Alphabet
In other Alphabet news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $137.30, for a total value of $27,460.00. Following the sale, the director now owns 7,584 shares of the company’s stock, valued at approximately $1,041,283.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Prabhakar Raghavan sold 16,083 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $133.82, for a total transaction of $2,152,227.06. Following the sale, the senior vice president now owns 75,621 shares of the company’s stock, valued at approximately $10,119,602.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $137.30, for a total value of $27,460.00. Following the sale, the director now directly owns 7,584 shares in the company, valued at approximately $1,041,283.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 176,576 shares of company stock valued at $23,425,367. 0.88% of the stock is owned by corporate insiders.
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, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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