Alphabet Inc. (NASDAQ:GOOG) Holdings Decreased by Abbrea Capital LLC

Abbrea Capital LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 0.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,893 shares of the information services provider’s stock after selling 77 shares during the period. Alphabet makes up about 0.9% of Abbrea Capital LLC’s portfolio, making the stock its 26th largest holding. Abbrea Capital LLC’s holdings in Alphabet were worth $6,468,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Tandem Wealth Advisors LLC purchased a new stake in Alphabet during the third quarter valued at about $25,000. Bruce G. Allen Investments LLC bought a new stake in Alphabet in the fourth quarter worth $26,000. Equitec Proprietary Markets LLC acquired a new position in shares of Alphabet during the 4th quarter valued at about $28,000. Buck Wealth Strategies LLC acquired a new position in Alphabet during the third quarter valued at approximately $32,000. Finally, Barometer Capital Management Inc. acquired a new position in Alphabet in the 3rd quarter valued at $32,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity at Alphabet

In related 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 completion of the transaction, the chief financial officer now directly owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, Director John L. Hennessy sold 2,100 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the transaction, the director now directly owns 5,891 shares in the company, valued at $1,035,402.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Ruth Porat sold 48,077 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of 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 disclosure for this sale can be found here. Insiders sold a total of 253,439 shares of company stock worth $36,746,578 in the last quarter. Corporate insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

GOOG has been the topic of a number of research analyst reports. Susquehanna raised their target price on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. 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 note on Monday, April 8th. Raymond James increased their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Finally, Stifel Nicolaus lifted their price target on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $165.67.

Alphabet Stock Up 10.0 %

Shares of NASDAQ:GOOG opened at $173.69 on Friday. Alphabet Inc. has a one year low of $104.42 and a one year high of $176.42. The stock has a market cap of $2.16 trillion, a price-to-earnings ratio of 26.64, a P/E/G ratio of 1.45 and a beta of 1.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The company has a 50 day moving average of $149.12 and a 200-day moving average of $142.75.

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. The firm had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a return on equity of 30.01% and a net margin of 25.90%. The company’s revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.17 earnings per share. On average, sell-side analysts forecast that Alphabet Inc. will post 6.79 earnings per share 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.