Cohen Capital Management Inc. Decreases Holdings in Alphabet Inc. (NASDAQ:GOOG)

Cohen Capital Management Inc. trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 8.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,420 shares of the information services provider’s stock after selling 900 shares during the period. Cohen Capital Management Inc.’s holdings in Alphabet were worth $1,468,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Cranbrook Wealth Management LLC raised its stake in shares of Alphabet by 14.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 570 shares of the information services provider’s stock worth $80,000 after purchasing an additional 70 shares during the last quarter. Columbia Trust Co 01012016 raised its stake in shares of Alphabet by 3.7% in the third quarter. Columbia Trust Co 01012016 now owns 2,087 shares of the information services provider’s stock worth $275,000 after purchasing an additional 74 shares during the last quarter. Manchester Financial Inc. raised its stake in shares of Alphabet by 3.6% in the fourth quarter. Manchester Financial Inc. now owns 2,124 shares of the information services provider’s stock worth $299,000 after purchasing an additional 74 shares during the last quarter. Atticus Wealth Management LLC raised its stake in shares of Alphabet by 1.4% in the third quarter. Atticus Wealth Management LLC now owns 5,262 shares of the information services provider’s stock worth $694,000 after purchasing an additional 75 shares during the last quarter. Finally, Congress Park Capital LLC raised its stake in shares of Alphabet by 0.3% in the fourth quarter. Congress Park Capital LLC now owns 22,542 shares of the information services provider’s stock worth $3,177,000 after purchasing an additional 76 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total value of $3,291,525.00. Following the completion of the transaction, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total value of $3,291,525.00. Following the completion of the transaction, the chief executive officer now directly owns 2,377,691 shares of the company’s stock, valued at approximately $347,832,416.39. The disclosure for this sale can be found here. Over the last quarter, insiders sold 251,339 shares of company stock valued at $36,377,482. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Alphabet Stock Performance

NASDAQ:GOOG opened at $161.10 on Thursday. The stock has a 50-day simple moving average of $148.20 and a two-hundred day simple moving average of $142.40. Alphabet Inc. has a 52-week low of $103.27 and a 52-week high of $161.70. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10. The firm has a market capitalization of $2.00 trillion, a PE ratio of 27.78, a P/E/G ratio of 1.47 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The business had revenue of $86.31 billion during the quarter, compared to analyst estimates of $85.28 billion. During the same quarter in the previous year, the company posted $1.05 earnings per share. Alphabet’s revenue for the quarter was up 13.5% on a year-over-year basis. Analysts forecast that Alphabet Inc. will post 6.79 EPS for the current year.

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.