Cedar Mountain Advisors LLC Trims Stake in Alphabet Inc. (NASDAQ:GOOG)

Cedar Mountain Advisors LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 15.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 354 shares of the information services provider’s stock after selling 63 shares during the quarter. Cedar Mountain Advisors LLC’s holdings in Alphabet were worth $67,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Redhawk Wealth Advisors Inc. boosted its holdings in shares of Alphabet by 1.1% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock worth $966,000 after buying an additional 54 shares during the period. Investment Advisory Group LLC boosted its holdings in shares of Alphabet by 0.7% during the fourth quarter. Investment Advisory Group LLC now owns 7,684 shares of the information services provider’s stock worth $1,463,000 after acquiring an additional 56 shares during the period. McGlone Suttner Wealth Management Inc. boosted its holdings in shares of Alphabet by 4.6% during the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 1,275 shares of the information services provider’s stock worth $243,000 after acquiring an additional 56 shares during the period. Sunburst Financial Group LLC grew its position in shares of Alphabet by 2.1% in the third quarter. Sunburst Financial Group LLC now owns 2,959 shares of the information services provider’s stock valued at $495,000 after purchasing an additional 60 shares during the last quarter. Finally, Johnson Financial Group LLC increased its stake in shares of Alphabet by 2.6% during the third quarter. Johnson Financial Group LLC now owns 2,360 shares of the information services provider’s stock worth $395,000 after purchasing an additional 60 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Down 4.1 %

Shares of NASDAQ:GOOG opened at $193.64 on Tuesday. Alphabet Inc. has a 52-week low of $131.55 and a 52-week high of $203.84. The company has a market capitalization of $2.37 trillion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company has a fifty day moving average of $187.95 and a 200-day moving average of $175.08.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. During the same quarter in the prior year, the firm earned $1.55 EPS. The business’s revenue for the quarter was up 15.1% compared to the same quarter last year. On average, equities analysts predict that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total value of $3,990,600.00. Following the completion of the sale, the chief executive officer now directly owns 2,084,306 shares in the company, valued at $369,672,512.16. This represents a 1.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Frances Arnold sold 441 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the sale, the director now owns 16,490 shares in the company, valued at $2,820,779.40. This trade represents a 2.60 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 133,387 shares of company stock worth $24,368,654. Insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on GOOG. Oppenheimer upped their price objective on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Barclays raised their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Jefferies Financial Group boosted their price objective on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Finally, Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Six analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.13.

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.