Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Sigma Planning Corp

Sigma Planning Corp cut its stake in Alphabet Inc. (NASDAQ:GOOG) by 67.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,115 shares of the information services provider’s stock after selling 110,958 shares during the quarter. Alphabet comprises approximately 0.6% of Sigma Planning Corp’s investment portfolio, making the stock its 26th biggest position. Sigma Planning Corp’s holdings in Alphabet were worth $7,486,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Cranbrook Wealth Management LLC grew its position in shares of Alphabet by 14.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 570 shares of the information services provider’s stock worth $80,000 after acquiring an additional 70 shares in the last quarter. Columbia Trust Co 01012016 boosted its position in Alphabet by 3.7% during the 3rd quarter. Columbia Trust Co 01012016 now owns 2,087 shares of the information services provider’s stock valued at $275,000 after purchasing an additional 74 shares during the period. Manchester Financial Inc. boosted its position in Alphabet by 3.6% during the 4th quarter. Manchester Financial Inc. now owns 2,124 shares of the information services provider’s stock valued at $299,000 after purchasing an additional 74 shares during the period. Atticus Wealth Management LLC boosted its position in Alphabet by 1.4% during the 3rd quarter. Atticus Wealth Management LLC now owns 5,262 shares of the information services provider’s stock valued at $694,000 after purchasing an additional 75 shares during the period. Finally, Congress Park Capital LLC boosted its position in Alphabet by 0.3% during the 4th quarter. Congress Park Capital LLC now owns 22,542 shares of the information services provider’s stock valued at $3,177,000 after purchasing an additional 76 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Up 1.4 %

Shares of Alphabet stock opened at $157.95 on Tuesday. The business’s fifty day moving average price is $147.65 and its two-hundred day moving average price is $142.12. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10. The company has a market capitalization of $1.96 trillion, a P/E ratio of 27.23, a PEG ratio of 1.44 and a beta of 1.05. Alphabet Inc. has a 1-year low of $103.27 and a 1-year high of $161.70.

Alphabet (NASDAQ:GOOG) last announced its 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 firm had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $85.28 billion. During the same quarter in the previous year, the business earned $1.05 EPS. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. As a group, research analysts forecast that Alphabet Inc. will post 6.78 EPS for the current year.

Wall Street Analyst Weigh In

GOOG has been the subject of a number of analyst reports. Raymond James boosted their price objective on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Susquehanna boosted their price objective on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research report on Wednesday, January 31st. Morgan Stanley restated an “overweight” rating and set a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Stifel Nicolaus boosted their price objective on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Oppenheimer lifted their target price on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $159.86.

Insider Transactions at Alphabet

In other news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the sale, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the transaction, the chief financial officer now directly owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the transaction, the chief executive officer now owns 2,303,011 shares in the company, valued at $362,516,961.51. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 251,339 shares of company stock valued at $36,377,482. 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.