Romano Brothers AND Company Sells 3,265 Shares of Alphabet Inc. (NASDAQ:GOOG)

Romano Brothers AND Company cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 46,840 shares of the information services provider’s stock after selling 3,265 shares during the period. Alphabet comprises approximately 1.0% of Romano Brothers AND Company’s investment portfolio, making the stock its 19th biggest holding. Romano Brothers AND Company’s holdings in Alphabet were worth $6,601,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOOG. Tandem Wealth Advisors LLC acquired a new position in Alphabet during the third quarter worth $25,000. Bruce G. Allen Investments LLC acquired a new position in Alphabet during the fourth quarter worth $26,000. HWG Holdings LP acquired a new position in Alphabet during the second quarter worth $26,000. Buck Wealth Strategies LLC acquired a new position in Alphabet during the third quarter worth $32,000. Finally, Barometer Capital Management Inc. acquired a new position in Alphabet during the third quarter worth $32,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Raymond James upped their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Oppenheimer upped their price objective on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Finally, Susquehanna upped their price objective on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $157.50.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the transaction, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $136.49, for a total value of $93,086.18. Following the completion of the transaction, the chief accounting officer now owns 28,602 shares of the company’s stock, valued at $3,903,886.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the transaction, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 251,339 shares of company stock valued at $36,033,907. 12.99% of the stock is currently owned by corporate insiders.

Alphabet Trading Down 1.8 %

GOOG opened at $156.33 on Tuesday. Alphabet Inc. has a twelve month low of $103.27 and a twelve month high of $161.70. The company has a 50-day simple moving average of $146.73 and a 200 day simple moving average of $141.34. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $1.94 trillion, a price-to-earnings ratio of 26.95, a P/E/G ratio of 1.47 and a beta of 1.05.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The business had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $85.28 billion. During the same quarter in the prior year, the business posted $1.05 earnings per share. Alphabet’s revenue was up 13.5% compared to the same quarter last year. Analysts predict that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

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.