Smithbridge Asset Management Inc. DE Has $11.17 Million Position in Alphabet Inc. $GOOG

Smithbridge Asset Management Inc. DE decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 62,941 shares of the information services provider’s stock after selling 1,193 shares during the quarter. Alphabet makes up approximately 2.0% of Smithbridge Asset Management Inc. DE’s investment portfolio, making the stock its 12th biggest position. Smithbridge Asset Management Inc. DE’s holdings in Alphabet were worth $11,165,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. ACT Advisors LLC. raised its holdings in Alphabet by 3.5% during the 2nd quarter. ACT Advisors LLC. now owns 1,625 shares of the information services provider’s stock worth $288,000 after purchasing an additional 55 shares during the last quarter. LongView Wealth Management boosted its stake in shares of Alphabet by 1.1% in the 2nd quarter. LongView Wealth Management now owns 5,126 shares of the information services provider’s stock valued at $909,000 after purchasing an additional 56 shares during the last quarter. Kooman & Associates grew its position in shares of Alphabet by 1.4% during the 2nd quarter. Kooman & Associates now owns 4,127 shares of the information services provider’s stock worth $732,000 after buying an additional 56 shares during the period. Colton Groome Financial Advisors LLC raised its stake in shares of Alphabet by 3.4% during the second quarter. Colton Groome Financial Advisors LLC now owns 1,742 shares of the information services provider’s stock worth $309,000 after buying an additional 57 shares during the last quarter. Finally, Brueske Advisory Services LLC lifted its holdings in Alphabet by 2.7% in the second quarter. Brueske Advisory Services LLC now owns 2,194 shares of the information services provider’s stock valued at $389,000 after buying an additional 58 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Hsbc Global Res raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday, October 7th. Jefferies Financial Group raised their price target on Alphabet from $230.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Piper Sandler reaffirmed a “neutral” rating on shares of Alphabet in a research note on Wednesday, July 9th. Phillip Securities lowered Alphabet from a “strong-buy” rating to a “moderate buy” rating in a research note on Monday, September 8th. Finally, Oppenheimer restated an “outperform” rating and set a $270.00 target price (up previously from $235.00) on shares of Alphabet in a report on Wednesday, September 3rd. Six equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $244.68.

Alphabet Price Performance

GOOG opened at $253.79 on Monday. The stock has a market cap of $3.07 trillion, a P/E ratio of 27.03, a P/E/G ratio of 1.72 and a beta of 1.00. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $257.58. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The company has a fifty day simple moving average of $232.18 and a 200 day simple moving average of $193.25.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96.43 billion during the quarter, compared to analysts’ expectations of $93.67 billion. During the same period in the previous year, the firm earned $1.89 earnings per share. The company’s revenue was up 13.8% on a year-over-year basis. On average, research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 23,820 shares of the firm’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the sale, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 2,778 shares of Alphabet stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $245.00, for a total transaction of $680,610.00. Following the completion of the transaction, the chief accounting officer directly owned 17,293 shares in the company, valued at approximately $4,236,785. The trade was a 13.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 243,372 shares of company stock valued at $55,110,740 over the last 90 days. 12.99% of the stock is owned by company insiders.

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.