Financial Advisors LLC Sells 320 Shares of Alphabet Inc. (NASDAQ:GOOG)

Financial Advisors LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,629 shares of the information services provider’s stock after selling 320 shares during the period. Alphabet comprises approximately 0.7% of Financial Advisors LLC’s investment portfolio, making the stock its 12th biggest position. Financial Advisors LLC’s holdings in Alphabet were worth $3,189,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in Alphabet by 11.3% in the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after purchasing an additional 9,703,425 shares during the last quarter. International Assets Investment Management LLC bought a new position in Alphabet in the 4th quarter valued at approximately $11,600,970,000. FMR LLC boosted its position in Alphabet by 3.8% during the 3rd quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock worth $15,852,868,000 after buying an additional 4,348,188 shares during the period. Cerity Partners LLC grew its holdings in Alphabet by 198.7% during the 4th quarter. Cerity Partners LLC now owns 3,882,882 shares of the information services provider’s stock worth $547,215,000 after acquiring an additional 2,583,128 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Alphabet by 93.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 4,591,383 shares of the information services provider’s stock worth $647,064,000 after acquiring an additional 2,222,950 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the transaction, the chief financial officer now owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction that occurred on 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 owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, 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. In the last 90 days, insiders sold 253,439 shares of company stock worth $36,746,578. Insiders own 12.99% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on GOOG shares. Morgan Stanley reiterated an “overweight” rating and set a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Stifel Nicolaus upped their price target on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Susquehanna raised their price objective on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Oppenheimer lifted their price objective on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Finally, Raymond James increased 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. Six analysts have rated the stock with a buy rating, According to MarketBeat, Alphabet currently has an average rating of “Buy” and an average target price of $165.67.

Alphabet Trading Up 10.0 %

NASDAQ GOOG opened at $173.69 on Monday. The company has a current ratio of 2.15, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The business has a fifty day simple moving average of $149.12 and a 200 day simple moving average of $142.78. Alphabet Inc. has a 12 month low of $104.42 and a 12 month high of $176.42. The firm has a market capitalization of $2.16 trillion, a P/E ratio of 26.64, a PEG ratio of 1.59 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. During the same quarter in the prior year, the company posted $1.17 earnings per share. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, analysts predict that Alphabet Inc. will post 6.8 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.