Alphabet Inc. (NASDAQ:GOOG) Shares Sold by PSI Advisors LLC

PSI Advisors LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 3.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,258 shares of the information services provider’s stock after selling 100 shares during the quarter. PSI Advisors LLC’s holdings in Alphabet were worth $459,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of GOOG. Veracity Capital LLC increased its stake in Alphabet by 12.4% during the fourth quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock worth $1,493,000 after purchasing an additional 1,173 shares during the period. Independence Bank of Kentucky increased its stake 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 worth $859,000 after purchasing an additional 1,230 shares during the period. Washington Trust Bank increased its stake in Alphabet by 33.0% during the third quarter. Washington Trust Bank now owns 7,359 shares of the information services provider’s stock worth $970,000 after purchasing an additional 1,826 shares during the period. CNB Bank increased its stake in Alphabet by 6.6% during the third quarter. CNB Bank now owns 27,723 shares of the information services provider’s stock worth $3,655,000 after purchasing an additional 1,710 shares during the period. Finally, Sloy Dahl & Holst LLC increased its stake 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 worth $1,086,000 after purchasing an additional 155 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the transaction, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $157.41, for a total value of $3,541,725.00. Following the completion of the transaction, the chief executive officer now owns 2,303,011 shares of the company’s stock, valued at $362,516,961.51. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the transaction, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at approximately $4,009,032.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 251,339 shares of company stock valued at $36,377,482. 12.99% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GOOG. Morgan Stanley restated an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. 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, April 16th. Susquehanna upped their price target on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Oppenheimer upped their price target on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Finally, Raymond James upped their price target on Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alphabet has an average rating of “Buy” and an average target price of $159.86.

Alphabet Stock Performance

GOOG stock opened at $157.95 on Tuesday. The firm has a market cap of $1.96 trillion, a P/E ratio of 27.23, a P/E/G ratio of 1.44 and a beta of 1.05. The stock’s 50 day simple moving average is $147.65 and its 200 day simple moving average is $142.12. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12-month low of $103.27 and a 12-month 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, topping analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 27.22% and a net margin of 24.01%. The firm had revenue of $86.31 billion during the quarter, compared to the consensus estimate of $85.28 billion. During the same period in the prior year, the business earned $1.05 EPS. The firm’s revenue was up 13.5% on a year-over-year basis. As a group, equities research analysts predict that Alphabet Inc. will post 6.78 EPS for the current 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.