Gibraltar Capital Management Inc. Has $11.04 Million Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Gibraltar Capital Management Inc. reduced its position in Alphabet Inc. (NASDAQ:GOOG) by 5.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,304 shares of the information services provider’s stock after selling 4,861 shares during the period. Alphabet makes up 4.7% of Gibraltar Capital Management Inc.’s investment portfolio, making the stock its 6th largest holding. Gibraltar Capital Management Inc.’s holdings in Alphabet were worth $11,035,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Veracity Capital LLC boosted its position in Alphabet by 12.4% in the fourth quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock worth $1,493,000 after purchasing an additional 1,173 shares during the last quarter. Independence Bank of Kentucky grew its position in shares of Alphabet by 25.3% during the 4th quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock valued at $859,000 after acquiring an additional 1,230 shares during the period. Washington Trust Bank grew its position in shares of Alphabet by 33.0% during the 3rd quarter. Washington Trust Bank now owns 7,359 shares of the information services provider’s stock valued at $970,000 after acquiring an additional 1,826 shares during the period. CNB Bank raised its holdings in shares of Alphabet by 6.6% in the 3rd quarter. CNB Bank now owns 27,723 shares of the information services provider’s stock worth $3,655,000 after purchasing an additional 1,710 shares during the period. Finally, Sloy Dahl & Holst LLC raised its holdings in shares of Alphabet by 1.9% in the 3rd quarter. Sloy Dahl & Holst LLC now owns 8,238 shares of the information services provider’s stock worth $1,086,000 after purchasing an additional 155 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the transaction, the chief executive officer now directly owns 2,280,511 shares of the company’s stock, valued at approximately $380,389,234.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,280,511 shares in the company, valued at $380,389,234.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the sale, the director now directly owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. Insiders sold a total of 275,129 shares of company stock valued at $40,382,765 in the last quarter. Corporate insiders own 12.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GOOG. Stifel Nicolaus boosted their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Morgan Stanley restated an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research note on Thursday, April 11th. Susquehanna increased their target price on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Raymond James boosted their price target 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, Oppenheimer raised their price objective on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Alphabet has an average rating of “Buy” and an average price target of $165.67.

Alphabet Price Performance

GOOG stock opened at $165.57 on Thursday. The firm has a 50 day moving average of $150.52 and a 200-day moving average of $143.31. The firm has a market capitalization of $2.06 trillion, a P/E ratio of 25.39, a price-to-earnings-growth ratio of 1.23 and a beta of 1.02. Alphabet Inc. has a 12 month low of $104.50 and a 12 month high of $176.42. The company has a current ratio of 2.15, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.51 by $0.38. The firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period last year, the firm earned $1.17 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 7.66 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a — dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th.

About Alphabet

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.