Weatherly Asset Management L. P. Sells 840 Shares of Alphabet Inc. (NASDAQ:GOOG)

Weatherly Asset Management L. P. lowered its position in Alphabet Inc. (NASDAQ:GOOG) by 3.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 26,981 shares of the information services provider’s stock after selling 840 shares during the quarter. Weatherly Asset Management L. P.’s holdings in Alphabet were worth $3,802,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of GOOG. Tandem Wealth Advisors LLC purchased a new stake in Alphabet in the 3rd quarter worth $25,000. Bruce G. Allen Investments LLC purchased a new stake in Alphabet in the 4th quarter worth $26,000. Equitec Proprietary Markets LLC purchased a new stake in Alphabet in the 4th quarter worth $28,000. Buck Wealth Strategies LLC purchased a new stake in Alphabet in the 3rd quarter worth $32,000. Finally, Barometer Capital Management Inc. purchased a new stake in Alphabet in the 3rd quarter worth $32,000. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $161.10 on Thursday. 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 1-year low of $103.27 and a 1-year high of $161.70. The firm has a market capitalization of $2.00 trillion, a P/E ratio of 27.78, a price-to-earnings-growth ratio of 1.47 and a beta of 1.05. The company’s 50-day moving average is $148.20 and its 200 day moving average is $142.40.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $85.28 billion. During the same period in the prior year, the company posted $1.05 EPS. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. Research analysts forecast that Alphabet Inc. will post 6.79 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, CFO Ruth Porat sold 48,077 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the sale, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the transaction, the senior vice president now directly owns 144,685 shares in the company, valued at approximately $22,566,519.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the transaction, the chief financial officer now owns 1,777,106 shares in the company, valued at $243,854,485.32. The disclosure for this sale can be found here. Insiders have sold 251,339 shares of company stock valued at $36,377,482 in the last ninety days. 12.99% of the stock is owned by company insiders.

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.