Eley Financial Management Inc Trims Holdings in Alphabet Inc. (NASDAQ:GOOG)

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

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

Wall Street Analysts Forecast Growth

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

Alphabet Price Performance

Shares of Alphabet stock traded up $15.96 during trading on Friday, reaching $173.91. 36,395,327 shares of the stock traded hands, compared to its average volume of 22,368,740. The company has a market capitalization of $2.16 trillion, a price-to-earnings ratio of 29.81, a P/E/G ratio of 1.48 and a beta of 1.05. The business has a fifty day simple moving average of $148.48 and a two-hundred day simple moving average of $142.51. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. Alphabet Inc. has a 52-week low of $104.42 and a 52-week high of $176.42.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.49 by $0.40. The company had revenue of $80.54 billion during the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The firm’s revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the business posted $1.17 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 6.79 EPS for the current year.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total transaction of $3,541,725.00. Following the completion of the sale, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the transaction, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $136.49, for a total transaction of $93,086.18. Following the completion of the transaction, the chief accounting officer now directly owns 28,602 shares of the company’s stock, valued at approximately $3,903,886.98. The disclosure for this sale can be found here. Over the last quarter, insiders sold 251,339 shares of company stock worth $36,377,482. Corporate 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.