Navis Wealth Advisors LLC Cuts Holdings in Alphabet Inc. (NASDAQ:GOOG)

Navis Wealth Advisors LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,602 shares of the information services provider’s stock after selling 128 shares during the quarter. Alphabet makes up approximately 1.0% of Navis Wealth Advisors LLC’s portfolio, making the stock its 22nd biggest position. Navis Wealth Advisors LLC’s holdings in Alphabet were worth $876,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Weiss Asset Management LP purchased a new stake in shares of Alphabet in the 3rd quarter valued at approximately $25,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Alphabet during the third quarter worth $33,000. Sanctuary Wealth Management L.L.C. grew its stake in shares of Alphabet by 87.3% during the third quarter. Sanctuary Wealth Management L.L.C. now owns 251 shares of the information services provider’s stock worth $42,000 after purchasing an additional 117 shares in the last quarter. Iron Horse Wealth Management LLC increased its holdings in Alphabet by 32.3% in the third quarter. Iron Horse Wealth Management LLC now owns 344 shares of the information services provider’s stock valued at $57,000 after buying an additional 84 shares during the last quarter. Finally, Kieckhefer Group LLC acquired a new stake in Alphabet in the fourth quarter valued at $76,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the sale, the director now owns 282,832 shares in the company, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $171.42, for a total transaction of $234,331.14. Following the completion of the transaction, the chief accounting officer now directly owns 26,349 shares of the company’s stock, valued at $4,516,745.58. The trade was a 4.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 122,887 shares of company stock worth $22,470,464 in the last three months. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on GOOG. Citigroup upped their price objective on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group upped their target price on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Phillip Securities raised Alphabet to a “strong-buy” rating in a research report on Friday, November 1st. UBS Group lifted their target price on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group raised their price objective on shares of Alphabet from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $205.13.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $197.07 on Wednesday. The firm has a market capitalization of $2.41 trillion, a P/E ratio of 26.14, a PEG ratio of 1.27 and a beta of 0.99. Alphabet Inc. has a one year low of $131.55 and a one year high of $203.84. The company’s fifty day moving average is $188.29 and its two-hundred day moving average is $175.13. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $86.39 billion. During the same period in the previous year, the business earned $1.55 earnings per share. Alphabet’s quarterly revenue was up 15.1% compared to the same quarter last year. Analysts forecast that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

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.