Waldron Private Wealth LLC Cuts Holdings in Alphabet Inc. (NASDAQ:GOOG)

Waldron Private Wealth LLC decreased its position in Alphabet Inc. (NASDAQ:GOOG) by 3.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 87,734 shares of the information services provider’s stock after selling 3,159 shares during the period. Waldron Private Wealth LLC’s holdings in Alphabet were worth $12,364,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the stock. Tandem Wealth Advisors LLC acquired a new position in Alphabet during the third quarter worth about $25,000. Bruce G. Allen Investments LLC acquired a new position in Alphabet in the 4th quarter valued at about $26,000. HWG Holdings LP purchased a new stake in shares of Alphabet in the 2nd quarter valued at approximately $26,000. Equitec Proprietary Markets LLC purchased a new stake in shares of Alphabet in the 4th quarter valued at approximately $28,000. Finally, Buck Wealth Strategies LLC purchased a new stake in shares of Alphabet in the 3rd quarter valued at approximately $32,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GOOG shares. Stifel Nicolaus upped their target price on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research note on Tuesday. Raymond James upped their target price on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Susquehanna boosted their price target on shares of Alphabet from $150.00 to $170.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Morgan Stanley reiterated an “overweight” rating and set a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Finally, Oppenheimer upped their target price on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $159.86.

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the sale, the director now directly owns 15,104 shares of the company’s stock, valued at $2,326,922.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director John L. Hennessy sold 800 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $159.56, for a total value of $127,648.00. Following the transaction, the director now owns 7,991 shares in the company, valued at $1,275,043.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Frances Arnold sold 230 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 228,839 shares of company stock valued at $32,835,757. Insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of GOOG opened at $156.00 on Wednesday. The company has a 50-day simple moving average of $146.95 and a 200-day simple 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. The company has a market capitalization of $1.94 trillion, a PE ratio of 26.90, a P/E/G ratio of 1.44 and a beta of 1.05. Alphabet Inc. has a 52-week low of $103.27 and a 52-week high of $161.70.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. The firm had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm’s revenue was up 13.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.05 EPS. Equities research analysts predict that Alphabet Inc. will post 6.78 earnings per share for the current fiscal year.

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.