Wright Investors Service Inc. Has $6.56 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOG)

Wright Investors Service Inc. cut its holdings in Alphabet Inc. (NASDAQ:GOOG) by 3.2% during the fourth quarter, Holdings Channel reports. The firm owned 46,515 shares of the information services provider’s stock after selling 1,557 shares during the quarter. Alphabet makes up 1.8% of Wright Investors Service Inc.’s portfolio, making the stock its 10th biggest holding. Wright Investors Service Inc.’s holdings in Alphabet were worth $6,555,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in GOOG. Totem Point Management LLC lifted its holdings in Alphabet by 22.0% in the 1st quarter. Totem Point Management LLC now owns 3,171 shares of the information services provider’s stock worth $8,857,000 after purchasing an additional 571 shares in the last quarter. Somerville Kurt F lifted its holdings in Alphabet by 10.3% in the 1st quarter. Somerville Kurt F now owns 118 shares of the information services provider’s stock worth $330,000 after purchasing an additional 11 shares in the last quarter. BCK Partners Inc. purchased a new position in Alphabet in the 1st quarter worth approximately $2,564,000. Hall Capital Management Co. Inc. raised its holdings in shares of Alphabet by 53.2% during the 1st quarter. Hall Capital Management Co. Inc. now owns 144 shares of the information services provider’s stock worth $402,000 after acquiring an additional 50 shares in the last quarter. Finally, Fairfield Bush & CO. raised its holdings in shares of Alphabet by 6.8% during the 1st quarter. Fairfield Bush & CO. now owns 3,370 shares of the information services provider’s stock worth $9,412,000 after acquiring an additional 214 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the transaction, the chief accounting officer now owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 660 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the transaction, the chief accounting officer now directly owns 27,920 shares in the company, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. Insiders have sold 251,339 shares of company stock valued at $36,377,482 in the last quarter. 12.99% of the stock is owned by insiders.

Alphabet Stock Performance

NASDAQ:GOOG opened at $155.72 on Friday. The stock’s fifty day moving average is $147.46 and its 200 day moving average is $141.87. Alphabet Inc. has a fifty-two week low of $103.27 and a fifty-two week high of $161.70. The firm has a market capitalization of $1.94 trillion, a PE ratio of 26.85, a PEG ratio of 1.45 and a beta of 1.05. 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 released its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The company had revenue of $86.31 billion for the quarter, compared to analyst estimates of $85.28 billion. During the same quarter in the prior year, the firm posted $1.05 EPS. Alphabet’s quarterly revenue was up 13.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Alphabet Inc. will post 6.78 earnings per share for the current year.

Wall Street Analyst Weigh In

GOOG has been the topic of several recent research reports. Oppenheimer upped their price objective on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Susquehanna upped their price objective on Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Stifel Nicolaus upped their price objective on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday. Raymond James upped their price objective on Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a report on Thursday, April 11th. Six research 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 $159.86.

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.