Petredis Investment Advisors LLC Cuts Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Petredis Investment Advisors LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 5.2% in the 4th quarter, HoldingsChannel reports. The firm owned 20,012 shares of the information services provider’s stock after selling 1,100 shares during the quarter. Petredis Investment Advisors LLC’s holdings in Alphabet were worth $3,811,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Redhawk Wealth Advisors Inc. increased its stake in Alphabet by 1.1% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider’s stock valued at $966,000 after purchasing an additional 54 shares during the period. Investment Advisory Group LLC grew 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 buying an additional 56 shares during the last quarter. McGlone Suttner Wealth Management Inc. increased its position in Alphabet by 4.6% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 1,275 shares of the information services provider’s stock valued at $243,000 after acquiring an additional 56 shares during the period. Sunburst Financial Group LLC raised its stake in Alphabet by 2.1% during the 3rd quarter. Sunburst Financial Group LLC now owns 2,959 shares of the information services provider’s stock valued at $495,000 after acquiring an additional 60 shares during the last quarter. Finally, Johnson Financial Group LLC lifted its position in Alphabet by 2.6% during the 3rd quarter. Johnson Financial Group LLC now owns 2,360 shares of the information services provider’s stock worth $395,000 after acquiring an additional 60 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOG opened at $201.90 on Monday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.47 trillion, a P/E ratio of 26.78, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99. The firm has a 50-day moving average price of $187.95 and a two-hundred day moving average price of $175.21. Alphabet Inc. has a twelve month low of $131.55 and a twelve month high of $203.84.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. During the same period last year, the company posted $1.55 EPS. The company’s revenue was up 15.1% on a year-over-year basis. As a group, research analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GOOG shares. Citigroup upped their price target on Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Phillip Securities upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Pivotal Research boosted their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. UBS Group raised their price objective on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their target price on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $205.13.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total transaction of $550,702.88. Following the completion of the sale, the chief accounting officer now owns 17,847 shares in the company, valued at approximately $3,468,029.04. This trade represents a 13.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the completion of the transaction, the chief executive officer now owns 2,084,306 shares in the company, valued at approximately $369,672,512.16. This trade represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 133,387 shares of company stock valued at $24,368,654. Corporate insiders own 12.99% of the company’s stock.

Alphabet 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.