Stonegate Investment Group LLC Sells 719 Shares of Alphabet Inc. (NASDAQ:GOOG)

Stonegate Investment Group LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 3.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,284 shares of the information services provider’s stock after selling 719 shares during the quarter. Stonegate Investment Group LLC’s holdings in Alphabet were worth $2,718,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in GOOG. Moneta Group Investment Advisors LLC grew its position in shares of Alphabet by 61,587.1% during the 4th 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 in the last quarter. FMR LLC increased its position in 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 purchasing an additional 4,348,188 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Alphabet by 11.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock valued at $12,649,838,000 after purchasing an additional 9,703,425 shares in the last quarter. Morgan Stanley lifted its position in shares of Alphabet by 37.6% in the 4th quarter. Morgan Stanley now owns 71,779,112 shares of the information services provider’s stock worth $6,368,961,000 after purchasing an additional 19,612,974 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Alphabet by 2.3% during 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 in the last quarter. 27.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on GOOG shares. Raymond James boosted their price objective on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Susquehanna boosted their price target on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research report on Wednesday, January 31st. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $146.33.

Check Out Our Latest Analysis on GOOG

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total transaction of $94,769.40. Following the sale, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the sale, the chief accounting officer now owns 27,920 shares in the company, valued at approximately $4,009,032.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $143.49, for a total value of $28,698.00. Following the completion of the transaction, the director now owns 6,784 shares of the company’s stock, valued at $973,436.16. The disclosure for this sale can be found here. Insiders sold 228,239 shares of company stock valued at $32,432,382 in the last three months. 12.99% of the stock is owned by insiders.

Alphabet Stock Performance

Shares of GOOG stock opened at $156.37 on Thursday. Alphabet Inc. has a 12-month low of $103.27 and a 12-month high of $157.00. The business’s fifty day simple moving average is $145.42 and its 200-day simple moving average is $139.98. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The company has a market cap of $1.94 trillion, a PE ratio of 26.96, a PEG ratio of 1.45 and a beta of 1.05.

Alphabet (NASDAQ:GOOGGet Free Report) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $86.31 billion for 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 firm’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.05 EPS. Analysts expect that Alphabet Inc. will post 6.77 earnings per share for the current fiscal year.

Alphabet Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGFree Report).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.