Carret Asset Management LLC Has $24.83 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Carret Asset Management LLC cut its position in Alphabet Inc. (NASDAQ:GOOG) by 0.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 176,211 shares of the information services provider’s stock after selling 541 shares during the period. Alphabet comprises about 3.2% of Carret Asset Management LLC’s portfolio, making the stock its 5th biggest holding. Carret Asset Management LLC’s holdings in Alphabet were worth $24,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Wynn Capital LLC bought a new stake in shares of Alphabet during the 4th quarter valued at $4,108,000. Bfsg LLC lifted its position in shares of Alphabet by 1.1% during the 4th quarter. Bfsg LLC now owns 42,399 shares of the information services provider’s stock valued at $5,975,000 after acquiring an additional 468 shares during the period. Acas LLC lifted its position in shares of Alphabet by 11.5% during the 4th quarter. Acas LLC now owns 2,277 shares of the information services provider’s stock valued at $321,000 after acquiring an additional 235 shares during the period. Panview Asian Equity Master Fund bought a new stake in shares of Alphabet during the 4th quarter valued at $20,012,000. Finally, Fountainhead AM LLC lifted its position in shares of Alphabet by 5.6% during the 4th quarter. Fountainhead AM LLC now owns 3,204 shares of the information services provider’s stock valued at $452,000 after acquiring an additional 169 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the transaction, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Alphabet news, Director John L. Hennessy sold 800 shares of the company’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $159.56, for a total value of $127,648.00. Following the sale, the director now owns 7,991 shares in the company, valued at approximately $1,275,043.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total value of $2,985,750.00. Following the sale, the chief executive officer now owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The disclosure for this sale can be found here. Insiders sold a total of 251,339 shares of company stock valued at $36,377,482 in the last 90 days. Corporate insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of GOOG opened at $176.28 on Friday. Alphabet Inc. has a 12-month low of $104.42 and a 12-month high of $176.28. The business has a 50-day simple moving average of $148.48 and a two-hundred day simple moving average of $142.51. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The stock has a market cap of $2.19 trillion, a PE ratio of 27.23, a PEG ratio of 1.48 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. During the same quarter in the prior year, the firm earned $1.17 EPS. The business’s revenue for the quarter was up 15.4% compared to the same quarter last year. Analysts anticipate that Alphabet Inc. will post 6.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.