Deltec Asset Management LLC Sells 1,439 Shares of Alphabet Inc. (NASDAQ:GOOG)

Deltec Asset Management LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 7.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,441 shares of the information services provider’s stock after selling 1,439 shares during the quarter. Deltec Asset Management LLC’s holdings in Alphabet were worth $2,916,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Capital International Investors boosted its holdings in shares of Alphabet by 9.3% during the 1st quarter. Capital International Investors now owns 87,716,562 shares of the information services provider’s stock valued at $13,355,724,000 after purchasing an additional 7,470,042 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Alphabet by 19.7% during the first quarter. JPMorgan Chase & Co. now owns 84,171,721 shares of the information services provider’s stock valued at $12,815,986,000 after buying an additional 13,876,534 shares during the last quarter. Capital World Investors boosted its stake in Alphabet by 2.2% during the first quarter. Capital World Investors now owns 45,731,826 shares of the information services provider’s stock valued at $6,963,128,000 after buying an additional 979,083 shares during the last quarter. Capital Research Global Investors increased its stake in Alphabet by 2.0% in the 1st quarter. Capital Research Global Investors now owns 35,558,778 shares of the information services provider’s stock worth $5,414,179,000 after acquiring an additional 684,968 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Alphabet by 4.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,657,421 shares of the information services provider’s stock worth $2,688,743,000 after acquiring an additional 636,008 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on GOOG shares. UBS Group raised their target price on shares of Alphabet from $187.00 to $192.00 and gave the company a “neutral” rating in a report on Wednesday. Citigroup boosted their target price on shares of Alphabet from $212.00 to $216.00 and gave the stock a “buy” rating in a report on Wednesday. Jefferies Financial Group increased their price target on shares of Alphabet from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday. DA Davidson raised Alphabet to a “hold” rating in a research note on Tuesday, September 10th. Finally, Pivotal Research raised their price objective on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $200.56.

Alphabet Stock Up 2.9 %

NASDAQ:GOOG opened at $176.14 on Thursday. The stock has a fifty day simple moving average of $163.56 and a 200-day simple moving average of $170.30. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 0.04. The company has a market cap of $2.18 trillion, a price-to-earnings ratio of 27.02, a price-to-earnings-growth ratio of 1.27 and a beta of 1.04. Alphabet Inc. has a twelve month low of $123.93 and a twelve month high of $193.31.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $86.39 billion. Alphabet had a net margin of 26.70% and a return on equity of 30.49%. The firm’s quarterly revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.55 EPS. Analysts anticipate that Alphabet Inc. will post 7.64 EPS for the current year.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total transaction of $114,576.00. Following the completion of the sale, the chief accounting officer now directly owns 31,334 shares of the company’s stock, valued at $5,264,112. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $162.35, for a total transaction of $3,652,875.00. Following the transaction, the chief executive officer now directly owns 2,182,385 shares of the company’s stock, valued at $354,310,204.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the sale, the chief accounting officer now owns 31,334 shares of the company’s stock, valued at approximately $5,264,112. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 220,426 shares of company stock valued at $35,993,340 over the last quarter. 12.99% of the stock is owned by corporate insiders.

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.