Investment Advisory Group LLC Cuts Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Investment Advisory Group LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,487 shares of the information services provider’s stock after selling 91 shares during the period. Investment Advisory Group LLC’s holdings in Alphabet were worth $1,055,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Financial Advisors Network Inc. boosted its stake in shares of Alphabet by 4.5% in the first quarter. Financial Advisors Network Inc. now owns 161 shares of the information services provider’s stock valued at $450,000 after purchasing an additional 7 shares during the period. Turim 21 Investimentos Ltda. lifted its holdings in Alphabet by 10.8% in the 1st quarter. Turim 21 Investimentos Ltda. now owns 82 shares of the information services provider’s stock worth $229,000 after buying an additional 8 shares in the last quarter. West Michigan Advisors LLC boosted its position in Alphabet by 3.7% in the 1st quarter. West Michigan Advisors LLC now owns 252 shares of the information services provider’s stock valued at $704,000 after buying an additional 9 shares during the last quarter. Somerville Kurt F grew its stake in shares of Alphabet by 10.3% during the first quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock valued at $330,000 after acquiring an additional 11 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC increased its position in shares of Alphabet by 1.4% during the first quarter. Stonebridge Capital Advisors LLC now owns 1,182 shares of the information services provider’s stock worth $3,301,000 after acquiring an additional 16 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Alphabet stock opened at $157.46 on Friday. The company has a market cap of $1.96 trillion, a PE ratio of 27.15, a P/E/G ratio of 1.45 and a beta of 1.05. Alphabet Inc. has a 12 month low of $103.27 and a 12 month high of $161.70. The company has a fifty day moving average price of $147.35 and a two-hundred day moving average price of $141.72. 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 posted its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The business had revenue of $86.31 billion during the quarter, compared to analyst estimates of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The company’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.05 EPS. Research analysts expect that Alphabet Inc. will post 6.78 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on GOOG. Stifel Nicolaus increased their price target on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday. Oppenheimer raised their price target on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Susquehanna lifted their price target on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Raymond James increased their price objective on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $159.86.

Insider Activity

In related news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $159.56, for a total value of $127,648.00. Following the sale, the director now owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the sale, the director now directly owns 7,991 shares in the company, valued at approximately $1,275,043.96. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Frances Arnold sold 230 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 251,339 shares of company stock valued at $36,377,482. 12.99% of the stock is currently owned by insiders.

Alphabet Company 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.