Alphabet Inc. (NASDAQ:GOOG) Shares Sold by Glassy Mountain Advisors Inc.

Glassy Mountain Advisors Inc. reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,727 shares of the information services provider’s stock after selling 1,682 shares during the period. Alphabet comprises about 3.4% of Glassy Mountain Advisors Inc.’s investment portfolio, making the stock its 9th largest holding. Glassy Mountain Advisors Inc.’s holdings in Alphabet were worth $8,276,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Veracity Capital LLC boosted its position in Alphabet by 12.4% during the fourth quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock valued at $1,493,000 after purchasing an additional 1,173 shares during the last quarter. Independence Bank of Kentucky boosted its position in Alphabet by 25.3% during the fourth quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock valued at $859,000 after purchasing an additional 1,230 shares during the last quarter. Washington Trust Bank boosted its position in Alphabet by 33.0% during the third quarter. Washington Trust Bank now owns 7,359 shares of the information services provider’s stock valued at $970,000 after purchasing an additional 1,826 shares during the last quarter. CNB Bank boosted its position in Alphabet by 6.6% during the third quarter. CNB Bank now owns 27,723 shares of the information services provider’s stock valued at $3,655,000 after purchasing an additional 1,710 shares during the last quarter. Finally, Sloy Dahl & Holst LLC boosted its position in Alphabet by 1.9% during the third quarter. Sloy Dahl & Holst LLC now owns 8,238 shares of the information services provider’s stock valued at $1,086,000 after purchasing an additional 155 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the transaction, the chief executive officer now owns 2,332,691 shares in the company, valued at $309,548,095.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Alphabet news, CFO Ruth Porat sold 48,077 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the transaction, the chief financial officer now owns 1,777,106 shares in the company, valued at approximately $243,854,485.32. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’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 in the company, valued at approximately $309,548,095.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 228,839 shares of company stock worth $32,835,757. Company insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

GOOG opened at $156.00 on Wednesday. Alphabet Inc. has a 12-month low of $103.27 and a 12-month high of $161.70. The stock has a market cap of $1.94 trillion, a price-to-earnings ratio of 26.90, a PEG ratio of 1.44 and a beta of 1.05. The business has a 50 day moving average of $146.95 and a 200-day moving average of $141.51. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.05.

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, topping analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $86.31 billion for the quarter, compared to analyst estimates of $85.28 billion. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.05 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post 6.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

GOOG has been the subject of several recent research reports. Raymond James increased their price target on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Stifel Nicolaus raised their price objective on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday. Oppenheimer raised their price objective on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Finally, Susquehanna raised 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. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Alphabet presently has a consensus rating of “Buy” and an average price target of $159.86.

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.