Oxinas Partners Wealth Management LLC Cuts Position in Alphabet Inc. (NASDAQ:GOOGL)



Oxinas Partners Wealth Management LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 8.4% in the first quarter, HoldingsChannel.com reports. The firm owned 120 shares of the information services provider’s stock after selling 11 shares during the quarter. Oxinas Partners Wealth Management LLC’s holdings in Alphabet were worth $334,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Morling Financial Advisors LLC purchased a new position in Alphabet during the 4th quarter valued at about $29,000. West Bancorporation Inc. A new position in Alphabet during the 4th quarter purchased valued at about $29,000. Wealthgate Family Office LLC purchased a new position in Alphabet during the 4th quarter valued at about $32,000. NS Partners Ltd purchased a new position in Alphabet during the 4th quarter valued at about $41,000. Finally, Schubert & Co purchased a new position in Alphabet during the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 41.70% of the company’s stock.

NASDAQ GOOGL opened at $2,174.75 on Tuesday. The company’s fifty day simple moving average is $2,256.24 and its 200-day simple moving average is $2,556.07. Alphabet Inc. has a 52 week low of $2,037.69 and a 52 week high of $3,030.93. The company has a current ratio of 2.87, a quick ratio of 2.85 and a debt-to-equity ratio of 0.06. The stock has a market cap of $1.43 trillion, a P/E ratio of 19.67, a PEG ratio of 1.06 and a beta of 1.10.

Shares of Alphabet are set to split on Monday, July 18th. The 20-1 split was announced on Tuesday, February 1st. The newly issued shares will be issued to shareholders after the closing bell on Friday, July 15th.

Alphabet (NASDAQ:GOOGL – Get Rating) last issued its quarterly earnings results on Tuesday, April 26th. The information services provider reported $24.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $25.70 by ($1.08). The company had revenue of $56.02 billion during the quarter, compared to the consensus estimate of $56.17 billion. Alphabet had a return on equity of 30.18% and a net margin of 27.57%. During the same quarter last year, the firm posted $26.29 EPS. On average, research analysts expect that Alphabet Inc. will post 110.62 EPS for the current fiscal year.

In related news, SVP Prabhakar Raghavan sold 490 shares of Alphabet stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $2,335.30, for a total value of $1,144,297.00. Following the completion of the sale, the senior vice president now owns 497 shares in the company, valued at $1,160,644.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder 2016 Gp LLC Gv sold 544,249 shares of Alphabet stock in a transaction on Monday, April 11th. The stock was sold at an average price of $11.16, for a total transaction of $6,073,818.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 551,528 shares of company stock valued at $24,397,562. Insiders own 11.44% of the company’s stock.

Several research firms have weighed in on GOOGL. Piper Sandler dropped their target price on shares of Alphabet from $2,900.00 to $2,775.00 and set an “overweight” rating for the company in a report on Thursday, June 2nd. KeyCorp lowered their price target on shares of Alphabet from $3,400.00 to $3,075.00 and set an “overweight” rating for the company in a report on Wednesday, April 20th. Morgan Stanley lowered their price target on shares of Alphabet from $3,270.00 to $3,000.00 in a report on Wednesday, June 1st. Barclays lowered their price target on shares of Alphabet from $3,300.00 to $3,200.00 and set an “overweight” rating for the company in a report on Wednesday, April 27th. Finally, Tigress Financial lifted their price target on shares of Alphabet from $3,540.00 to $3,670.00 and gave the stock a “strong-buy” rating in a report on Friday, March 18th. One analyst has rated the stock with a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet currently has an average rating of “Buy” and a consensus target price of $3,277.59.

Alphabet Profile (Get Rating)

Alphabet Inc provides 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 Pets segments. The Google Services segment offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL – Get Rating).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)



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