Tran Capital Management L.P. Sells 17,833 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Tran Capital Management L.P. decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 317,539 shares of the information services provider’s stock after selling 17,833 shares during the period. Alphabet comprises about 5.2% of Tran Capital Management L.P.’s investment portfolio, making the stock its 6th biggest holding. Tran Capital Management L.P.’s holdings in Alphabet were worth $44,357,000 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 the company. Live Oak Investment Partners acquired a new position in shares of Alphabet in the 4th quarter valued at about $26,000. VitalStone Financial LLC boosted its stake in Alphabet by 1,900.0% in the second quarter. VitalStone Financial LLC now owns 280 shares of the information services provider’s stock valued at $34,000 after acquiring an additional 266 shares during the period. Sanctuary Wealth Management L.L.C. bought a new position in shares of Alphabet during the fourth quarter valued at approximately $34,000. Turim 21 Investimentos Ltda. acquired a new stake in shares of Alphabet during the 3rd quarter worth approximately $38,000. Finally, Meritage Group LP boosted its position in Alphabet by 1,061.5% during the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after purchasing an additional 276 shares during the period. 40.03% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on GOOGL shares. Roth Mkm cut their target price on Alphabet from $166.00 to $164.00 and set a “buy” rating on the stock in a research note on Wednesday, January 31st. Susquehanna lifted their price objective on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Redburn Atlantic increased their target price on shares of Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. KeyCorp boosted their price target on shares of Alphabet from $153.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, January 29th. Finally, Citigroup raised their price objective on shares of Alphabet from $153.00 to $168.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Five analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $155.48.

Alphabet Stock Up 0.1 %

Shares of Alphabet stock opened at $150.87 on Thursday. Alphabet Inc. has a 12-month low of $99.74 and a 12-month high of $153.78. The stock has a market capitalization of $1.88 trillion, a P/E ratio of 26.01, a PEG ratio of 1.39 and a beta of 1.04. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The stock has a 50 day moving average price of $143.33 and a two-hundred day moving average price of $138.03.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. During the same period in the prior year, the company earned $1.05 earnings per share. Equities analysts expect that Alphabet Inc. will post 6.77 earnings per share for the current year.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $140.11, for a total transaction of $3,152,475.00. Following the sale, the chief executive officer now owns 2,422,691 shares in the company, valued at $339,443,236.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Frances Arnold sold 240 shares of the firm’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 transaction of $33,722.40. Following the completion of the transaction, the director now owns 14,815 shares in the company, valued at approximately $2,081,655.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $140.11, for a total value of $3,152,475.00. Following the completion of the sale, the chief executive officer now owns 2,422,691 shares in the company, valued at $339,443,236.01. The disclosure for this sale can be found here. Insiders have sold 251,378 shares of company stock worth $35,461,377 in the last ninety days. Insiders own 0.88% of the company’s stock.

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.