AMI Investment Management Inc. Has $7.27 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

AMI Investment Management Inc. lessened its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,550 shares of the information services provider’s stock after selling 3,970 shares during the quarter. Alphabet comprises 2.9% of AMI Investment Management Inc.’s holdings, making the stock its 10th biggest position. AMI Investment Management Inc.’s holdings in Alphabet were worth $7,265,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Tolleson Wealth Management Inc. acquired a new stake in shares of Alphabet in the second quarter worth $411,000. Westshore Wealth LLC grew its position in shares of Alphabet by 31.2% in the second quarter. Westshore Wealth LLC now owns 15,700 shares of the information services provider’s stock valued at $1,887,000 after purchasing an additional 3,730 shares during the period. Washington Trust Bank grew its position in shares of Alphabet by 33.0% in the third quarter. Washington Trust Bank now owns 7,359 shares of the information services provider’s stock valued at $970,000 after purchasing an additional 1,826 shares during the period. Woodley Farra Manion Portfolio Management Inc. grew its position in shares of Alphabet by 20.0% in the second quarter. Woodley Farra Manion Portfolio Management Inc. now owns 5,986 shares of the information services provider’s stock valued at $724,000 after purchasing an additional 996 shares during the period. Finally, CNB Bank boosted its position in Alphabet by 6.6% during the third quarter. CNB Bank now owns 27,723 shares of the information services provider’s stock worth $3,655,000 after acquiring an additional 1,710 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GOOG shares. Raymond James lifted their target price on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Susquehanna boosted their price target on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $146.33.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $152.26 on Friday. The stock has a market cap of $1.89 trillion, a price-to-earnings ratio of 26.25, a PEG ratio of 1.40 and a beta of 1.05. Alphabet Inc. has a 52 week low of $100.29 and a 52 week high of $155.20. The company’s 50-day moving average price is $144.75 and its 200 day moving average price is $139.39. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 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 firm had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $85.28 billion. During the same period in the prior year, the company earned $1.05 EPS. The firm’s revenue was up 13.5% on a year-over-year basis. As a group, research analysts forecast that Alphabet Inc. will post 6.77 earnings per share for the current fiscal year.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 425 shares of Alphabet stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $139.61, for a total transaction of $59,334.25. Following the sale, the chief accounting officer now owns 27,259 shares in the company, valued at $3,805,628.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Amie Thuener O’toole sold 425 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $139.61, for a total transaction of $59,334.25. Following the completion of the sale, the chief accounting officer now owns 27,259 shares of the company’s stock, valued at $3,805,628.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $143.49, for a total transaction of $28,698.00. Following the sale, the director now directly owns 6,784 shares of the company’s stock, valued at approximately $973,436.16. The disclosure for this sale can be found here. Insiders have sold a total of 251,138 shares of company stock worth $35,427,655 in the last three months. Company insiders own 12.99% 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.