Alphabet Inc. (NASDAQ:GOOG) is Yacktman Asset Management LP’s 4th Largest Position

Yacktman Asset Management LP lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 7.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,808,388 shares of the information services provider’s stock after selling 311,766 shares during the period. Alphabet comprises approximately 5.0% of Yacktman Asset Management LP’s portfolio, making the stock its 4th largest position. Yacktman Asset Management LP’s holdings in Alphabet were worth $536,716,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Cranbrook Wealth Management LLC raised its holdings in Alphabet by 14.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 570 shares of the information services provider’s stock valued at $80,000 after buying an additional 70 shares in the last quarter. Manchester Financial Inc. boosted its position in Alphabet by 3.6% during 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 period. Atticus Wealth Management LLC boosted its position in Alphabet by 1.4% during 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 period. Congress Park Capital LLC grew its holdings in Alphabet by 0.3% during the fourth quarter. Congress Park Capital LLC now owns 22,542 shares of the information services provider’s stock valued at $3,177,000 after purchasing an additional 76 shares during the last quarter. Finally, Emerald Advisors LLC raised its position in shares of Alphabet by 0.6% in the fourth quarter. Emerald Advisors LLC now owns 13,565 shares of the information services provider’s stock valued at $1,912,000 after purchasing an additional 76 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $173.69 on Friday. The business has a 50 day simple moving average of $149.12 and a 200 day simple moving average of $142.75. Alphabet Inc. has a one year low of $104.42 and a one year high of $176.42. The company has a market capitalization of $2.16 trillion, a PE ratio of 26.64, a price-to-earnings-growth 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.

Alphabet (NASDAQ:GOOG) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.49 by $0.40. The company had revenue of $80.54 billion for 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 30.01%. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.17 EPS. On average, sell-side analysts forecast that Alphabet Inc. will post 6.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on GOOG shares. Stifel Nicolaus lifted their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Oppenheimer lifted their target price on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Raymond James raised their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Finally, Susquehanna upped their target price on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Alphabet has a consensus rating of “Buy” and a consensus target price of $165.67.

Insider Activity

In related news, Director John L. Hennessy sold 2,100 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director John L. Hennessy sold 2,100 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $175.76, for a total transaction of $369,096.00. Following the sale, the director now directly owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now 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 90 days, insiders sold 253,439 shares of company stock worth $36,746,578. Insiders own 12.99% of the company’s stock.

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.