Alphabet Inc. (NASDAQ:GOOG) Position Cut by Trust Asset Management LLC

Trust Asset Management LLC lessened its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 125,692 shares of the information services provider’s stock after selling 2,732 shares during the quarter. Alphabet comprises 1.7% of Trust Asset Management LLC’s investment portfolio, making the stock its 7th biggest holding. Trust Asset Management LLC’s holdings in Alphabet were worth $17,714,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in GOOG. Kozak & Associates Inc. grew its stake in Alphabet by 2.9% during the 3rd quarter. Kozak & Associates Inc. now owns 9,412 shares of the information services provider’s stock worth $1,306,000 after buying an additional 265 shares during the last quarter. Avior Wealth Management LLC grew its stake in shares of Alphabet by 1.4% in the 3rd quarter. Avior Wealth Management LLC now owns 24,970 shares of the information services provider’s stock valued at $3,292,000 after purchasing an additional 346 shares during the last quarter. Founders Financial Securities LLC grew its stake in shares of Alphabet by 32.1% in the 3rd quarter. Founders Financial Securities LLC now owns 2,548 shares of the information services provider’s stock valued at $336,000 after purchasing an additional 619 shares during the last quarter. Leonard Rickey Investment Advisors P.L.L.C. grew its stake in shares of Alphabet by 4.3% in the 3rd quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 2,543 shares of the information services provider’s stock valued at $335,000 after purchasing an additional 106 shares during the last quarter. Finally, Integrated Investment Consultants LLC grew its stake in shares of Alphabet by 10.2% in the 3rd quarter. Integrated Investment Consultants LLC now owns 7,552 shares of the information services provider’s stock valued at $996,000 after purchasing an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

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

Alphabet Stock Performance

Shares of GOOG stock opened at $173.69 on Friday. The stock has a fifty day moving average price of $149.12 and a 200 day moving average price of $142.75. The stock has a market cap of $2.16 trillion, a PE ratio of 26.64, a P/E/G ratio of 1.45 and a beta of 1.05. Alphabet Inc. has a 1 year low of $104.42 and a 1 year high of $176.42. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. The firm had revenue of $80.54 billion during 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%. Alphabet’s revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.17 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 6.79 earnings per share for the current fiscal year.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $1,035,402.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $243,854,485.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $1,035,402.16. The disclosure for this sale can be found here. Insiders sold a total of 253,439 shares of company stock valued at $36,746,578 over the last three months. 12.99% of the stock is currently owned by insiders.

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.