Gradient Investments LLC Sells 6,950 Shares of Alphabet Inc. (NASDAQ:GOOG)

Gradient Investments LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOG) by 1.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 438,348 shares of the information services provider’s stock after selling 6,950 shares during the period. Alphabet comprises approximately 1.7% of Gradient Investments LLC’s holdings, making the stock its 14th largest holding. Gradient Investments LLC’s holdings in Alphabet were worth $83,479,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. M&G PLC acquired a new position in Alphabet during the 3rd quarter valued at about $2,240,000. Coldstream Capital Management Inc. raised its holdings in shares of Alphabet by 14.4% in the third quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider’s stock valued at $19,642,000 after purchasing an additional 14,738 shares during the last quarter. Metis Global Partners LLC lifted its position in shares of Alphabet by 1.4% in the third quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider’s stock worth $50,488,000 after purchasing an additional 4,292 shares in the last quarter. Stevens Capital Management LP boosted its holdings in Alphabet by 172.9% during the third quarter. Stevens Capital Management LP now owns 91,237 shares of the information services provider’s stock worth $15,254,000 after purchasing an additional 57,810 shares during the last quarter. Finally, Verdence Capital Advisors LLC grew its position in Alphabet by 10.2% in the third quarter. Verdence Capital Advisors LLC now owns 63,545 shares of the information services provider’s stock valued at $10,624,000 after purchasing an additional 5,892 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Alphabet Trading Up 1.2 %

Shares of Alphabet stock opened at $201.90 on Monday. Alphabet Inc. has a 52-week low of $131.55 and a 52-week high of $203.84. The stock has a market cap of $2.47 trillion, a PE ratio of 26.78, a PEG ratio of 1.27 and a beta of 0.99. The firm has a 50-day moving average of $187.95 and a 200-day moving average of $175.21. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analyst estimates of $86.39 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.55 EPS. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.02 EPS for the current year.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total value of $3,990,600.00. Following the completion of the transaction, the chief executive officer now directly owns 2,084,306 shares in the company, valued at approximately $369,672,512.16. The trade was a 1.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $171.42, for a total transaction of $234,331.14. Following the sale, the chief accounting officer now owns 26,349 shares in the company, valued at $4,516,745.58. This represents a 4.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 133,387 shares of company stock valued at $24,368,654 in the last three months. Corporate insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the topic of several analyst reports. UBS Group boosted their price target on shares of Alphabet from $187.00 to $192.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. increased their price target on Alphabet from $208.00 to $212.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Oppenheimer upped their price objective on Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Finally, 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, October 30th. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.13.

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.