Blue Edge Capital LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,315 shares of the information services provider’s stock after selling 19 shares during the quarter. Blue Edge Capital LLC’s holdings in Alphabet were worth $2,304,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOG. Magnolia Capital Advisors LLC raised its holdings in shares of Alphabet by 57.2% in the 3rd quarter. Magnolia Capital Advisors LLC now owns 294 shares of the information services provider’s stock valued at $29,000 after buying an additional 107 shares during the period. Stephenson National Bank & Trust grew its stake in Alphabet by 200.0% during the 3rd quarter. Stephenson National Bank & Trust now owns 30 shares of the information services provider’s stock worth $44,000 after purchasing an additional 20 shares in the last quarter. Chiron Capital Management LLC acquired a new position in Alphabet during the 3rd quarter worth $44,000. Clearview Wealth Advisors LLC acquired a new position in Alphabet during the 4th quarter worth $44,000. Finally, Clear Perspectives Financial Planning LLC acquired a new position in Alphabet during the 4th quarter worth $44,000. 31.94% of the stock is currently owned by institutional investors.
GOOG has been the subject of several analyst reports. Oppenheimer reissued a “buy” rating and set a $1,800.00 target price on shares of Alphabet in a research note on Friday, October 30th. Zacks Investment Research cut Alphabet from a “buy” rating to a “hold” rating in a research note on Wednesday, February 3rd. Jefferies Financial Group upped their price objective on Alphabet from $2,150.00 to $2,400.00 in a research report on Wednesday, February 3rd. Morgan Stanley upped their price objective on Alphabet from $2,050.00 to $2,200.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 3rd. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $2,390.00 price objective (up from $2,050.00) on shares of Alphabet in a research report on Wednesday, February 3rd. Two equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $2,184.71.
In other news, SVP Philipp Schindler sold 1,385 shares of the stock in a transaction that occurred on Wednesday, December 30th. The stock was sold at an average price of $1,762.01, for a total transaction of $2,440,383.85. Following the completion of the transaction, the senior vice president now directly owns 19,950 shares of the company’s stock, valued at approximately $35,152,099.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ann Mather sold 52 shares of the stock in a transaction that occurred on Monday, January 4th. The stock was sold at an average price of $1,757.54, for a total value of $91,392.08. Following the transaction, the director now directly owns 1,117 shares of the company’s stock, valued at $1,963,172.18. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,999 shares of company stock valued at $5,434,607. 12.99% of the stock is owned by company insiders.
Shares of NASDAQ GOOG traded down $27.80 during trading hours on Tuesday, reaching $2,037.08. The stock had a trading volume of 72,237 shares, compared to its average volume of 1,637,658. The firm has a market cap of $1.37 trillion, a price-to-earnings ratio of 38.82, a PEG ratio of 1.66 and a beta of 0.98. The company has a current ratio of 3.41, a quick ratio of 3.39 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a fifty-two week low of $1,013.54 and a fifty-two week high of $2,152.68. The firm has a 50-day moving average of $1,922.66 and a 200-day moving average of $1,706.52.
Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Monday, February 1st. The information services provider reported $22.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $15.91 by $6.39. The firm had revenue of $56.90 billion during the quarter, compared to the consensus estimate of $52.86 billion. Alphabet had a return on equity of 17.31% and a net margin of 20.80%. The firm’s revenue was up 23.5% compared to the same quarter last year. During the same period in the prior year, the business earned $15.35 EPS. On average, equities analysts predict that Alphabet Inc. will post 52.19 EPS for the current year.
Alphabet Inc provides online advertising services in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It offers performance and brand advertising services. The company operates through Google and Other Bets segments. The Google segment offers products, such as Ads, Android, Chrome, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube, as well as technical infrastructure.
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