Keel Point LLC Reduces Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Keel Point LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 6.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,465 shares of the information services provider’s stock after selling 677 shares during the period. Keel Point LLC’s holdings in Alphabet were worth $1,334,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Moneta Group Investment Advisors LLC lifted its position in Alphabet by 61,587.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 130,046,253 shares of the information services provider’s stock worth $11,539,004,000 after buying an additional 129,835,437 shares during the period. FMR LLC increased its stake in shares of Alphabet by 3.8% during the 3rd quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock valued at $15,852,868,000 after acquiring an additional 4,348,188 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Alphabet by 11.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after acquiring an additional 9,703,425 shares during the period. Morgan Stanley boosted its position in shares of Alphabet by 37.6% in the fourth quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock worth $6,368,961,000 after acquiring an additional 19,612,974 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Alphabet by 2.3% in the third quarter. Northern Trust Corp now owns 57,269,184 shares of the information services provider’s stock valued at $7,550,942,000 after purchasing an additional 1,275,060 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 1,777,106 shares in the company, valued at $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 news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the sale, the chief executive officer now directly owns 2,377,691 shares of the company’s stock, valued at $347,832,416.39. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Ruth Porat sold 48,077 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly 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 have sold 251,339 shares of company stock worth $36,377,482 over the last 90 days. Company insiders own 12.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GOOG. Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price target on shares of Alphabet in a research note on Thursday, April 11th. Stifel Nicolaus increased their target price on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday. Raymond James boosted their price target on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Susquehanna upped their price target on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Finally, Oppenheimer lifted their price objective on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Alphabet has a consensus rating of “Buy” and a consensus price target of $159.86.

Alphabet Stock Up 0.6 %

Shares of NASDAQ GOOG opened at $156.88 on Thursday. The stock has a fifty day moving average price of $147.15 and a 200 day moving average price of $141.61. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12-month low of $103.27 and a 12-month high of $161.70. The company has a market cap of $1.95 trillion, a P/E ratio of 27.05, a P/E/G ratio of 1.44 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The business had revenue of $86.31 billion during the quarter, compared to analyst estimates of $85.28 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.05 earnings per share. Research analysts anticipate that Alphabet Inc. will post 6.78 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.